Theta

A decentralized video content streaming platform that is powered by users who then in return get rewarded with Theta Tokens.

About Theta

The Theta Network, run by Sliver.TV, is essentially a decentralized video content streaming platform that is powered by users who then in return get rewarded with Theta Tokens. With these Theta tokens you can buy and donate virtual gift cards, unlock premium content, subscriptions and eventually convert them to native Theta tokens, tokens that will run on a custom blockchain rather than ERC-20 compliant tokens, and be exchangeable through exchanges. Both users relaying the video streams and users watching the content can get rewarded by the network.

Token Sale Use of Blockchain

Product

4.6
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

5.0
N/A
5 - Hardly any (or no) competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.

Product

Sliver.TV has a running platform with over a million monthly users according to their documentation. The network is backed by some of the biggest name in the video streaming industry. Its appeal is massive – (Researchers state video content will reach 82% of all internet traffic by 2020) – as well as the network’s target user base. Competition-wise, no one is even close to a running live platform with as many users. Sliver.TV has also raised over $17 million in venture financing from notable Silicon Valley VCs.

Product Whitepaper

Use of Blockchain

4.2
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.

Use of Blockchain

The team behind the Theta network claim the network needs to reach a critical mass of users for it to run smoothly, and so in order to safeguard the network’s growth until that point, Sliver.TV are planning to utilize some sort of bootstrap mechanism, where instead of end users pulling video streams from CDN servers (Like YouTube’s servers), instead only a subset of caching nodes will pull the stream. The main architecture is simple: Streamers publish their video streams to ingest nodes, which run on computers contributed by the user community. The ingest nodes are responsible for transcoding the video stream to different bitrates and resolutions. Then, the caching nodes pull the video streams and relay to end viewers. The block reward is not a constant, instead Sliver.TV devised a formula (which is in the Whitepaper along with all of the relevant information) to calculate a ‘reputation score’ – the higher your reputation score; the bigger the block reward.

Use of Blockchain Roadmap

Whitepaper

4.6
Whitepaper
Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.

Whitepaper

At 37 pages long, it is extremely thorough and comprehensive. The team goes into much detail about the current platform, Sliver.TV’s expectations and business model, the technology and aspirations behind Theta, the coin and the token sale, and the team itself. Nothing crucial is missing and the whitepaper is very well put, albeit visually, not the easiest to digest.

Whitepaper Compliance

Roadmap

4.4
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - Professional.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

5.0
N/A
5 - Well on the way.

Roadmap

Sliver.TV’s development roadmap, both business wise and technology-wise are professional and solid. This must stem from Sliver.TV being a large, well based company that already raised over $17 million in venture financing. Their vision will be the future’s standard, and their feasibility of achieving their goals are high. They do depend on some bootstrapping mechanisms that create this sort of hybrid centralized-decentralized network, but that is just temporary. Sliver.TV’s current platform is working on all cylinders.

Roadmap Company and Team

Compliance

4.0
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.

Compliance

Phase I of the Theta network will launch with the issuance of ERC20-compliant tokens during the token sale. Phase II encompassing a new blockchain and native Theta tokens is planned to launch in Q4 2018, at which time each ERC20 Theta token can be 1:1 exchanged for a native Theta token. Theta tokens work as a long-term sustainable incentive mechanism to motivate various stakeholders to participate in the DSN. Sliver.TV designed the mechanism such that for a caching node, the more video stream relaying work it conducts, the higher mining reward it gets.

Compliance Token Sale

Company and Team

3.8
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

5.0
N/A
5 - Well established, has raised significant funds.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

5.0
N/A
5 - Accomplished, recognized.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

3.0
N/A
3 - Somewhat uncertain, probably okay.

Company and Team

As stated earlier, Sliver.TV is an established, well known video streaming company in today’s market. They are no strangers to fund raising, having raised over $17 million in venture financing, from VCs including Danhua Capital, DCM, Sierra ventures and more. The only information about the team is what is found on the Thetatoken website/whitepaper, which only specifies the found members and advisory board. The rest of the team is not mentioned, hence the relative lower-than-average score.

Company and Team Product

Token Sale

4.4
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

5.0
N/A
5 - Fully thought out and planned.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

5.0
N/A
5 - Carefully planned and fully transparent.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.

Token Sale

Theta tokens are capped at 300,000,000 tokens available for sale. The hard cap is $20 million or the equivalent in ETH. One Theta token will be priced around $0.12, with a minimum purchase of 1 ETH and bonus tokens for purchasers in the first week. According to the team behind Theta, 60% of the anticipated funds will go towards software development (R&D), 20% towards marketing and community development and 20% towards operational and legal expenses. There is some media presense and converage, albeit not as much for a project of this caliber.

Product

Sliver.TV has a running platform with over a million monthly users according to their documentation. The network is backed by some of the biggest name in the video streaming industry. Its appeal is massive – (Researchers state video content will reach 82% of all internet traffic by 2020) – as well as the network’s target user base. Competition-wise, no one is even close to a running live platform with as many users. Sliver.TV has also raised over $17 million in venture financing from notable Silicon Valley VCs.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

5.0
N/A
5 - Hardly any (or no) competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.
Product Score:
4.6

Use of Blockchain

The team behind the Theta network claim the network needs to reach a critical mass of users for it to run smoothly, and so in order to safeguard the network’s growth until that point, Sliver.TV are planning to utilize some sort of bootstrap mechanism, where instead of end users pulling video streams from CDN servers (Like YouTube’s servers), instead only a subset of caching nodes will pull the stream. The main architecture is simple: Streamers publish their video streams to ingest nodes, which run on computers contributed by the user community. The ingest nodes are responsible for transcoding the video stream to different bitrates and resolutions. Then, the caching nodes pull the video streams and relay to end viewers. The block reward is not a constant, instead Sliver.TV devised a formula (which is in the Whitepaper along with all of the relevant information) to calculate a ‘reputation score’ – the higher your reputation score; the bigger the block reward.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

5.0
N/A
5 - Real, tangible, utility-based value.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.
Use of Blockchain Score:
4.2

Whitepaper

At 37 pages long, it is extremely thorough and comprehensive. The team goes into much detail about the current platform, Sliver.TV’s expectations and business model, the technology and aspirations behind Theta, the coin and the token sale, and the team itself. Nothing crucial is missing and the whitepaper is very well put, albeit visually, not the easiest to digest.

Category Breakdown
Comprehensiveness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Whitepaper Score:
4.6

Roadmap

Sliver.TV’s development roadmap, both business wise and technology-wise are professional and solid. This must stem from Sliver.TV being a large, well based company that already raised over $17 million in venture financing. Their vision will be the future’s standard, and their feasibility of achieving their goals are high. They do depend on some bootstrapping mechanisms that create this sort of hybrid centralized-decentralized network, but that is just temporary. Sliver.TV’s current platform is working on all cylinders.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

5.0
N/A
5 - Professional.
Feasiblity

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

5.0
N/A
5 - Well on the way.
Roadmap Score:
4.4

Compliance

Phase I of the Theta network will launch with the issuance of ERC20-compliant tokens during the token sale. Phase II encompassing a new blockchain and native Theta tokens is planned to launch in Q4 2018, at which time each ERC20 Theta token can be 1:1 exchanged for a native Theta token. Theta tokens work as a long-term sustainable incentive mechanism to motivate various stakeholders to participate in the DSN. Sliver.TV designed the mechanism such that for a caching node, the more video stream relaying work it conducts, the higher mining reward it gets.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

5.0
N/A
5 - Foundational or varied use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
4.0

Company and Team

As stated earlier, Sliver.TV is an established, well known video streaming company in today’s market. They are no strangers to fund raising, having raised over $17 million in venture financing, from VCs including Danhua Capital, DCM, Sierra ventures and more. The only information about the team is what is found on the Thetatoken website/whitepaper, which only specifies the found members and advisory board. The rest of the team is not mentioned, hence the relative lower-than-average score.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

5.0
N/A
5 - Well established, has raised significant funds.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

5.0
N/A
5 - Accomplished, recognized.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

3.0
N/A
3 - Somewhat uncertain, probably okay.
Company and Team Score:
3.8

Token Sale

Theta tokens are capped at 300,000,000 tokens available for sale. The hard cap is $20 million or the equivalent in ETH. One Theta token will be priced around $0.12, with a minimum purchase of 1 ETH and bonus tokens for purchasers in the first week. According to the team behind Theta, 60% of the anticipated funds will go towards software development (R&D), 20% towards marketing and community development and 20% towards operational and legal expenses. There is some media presense and converage, albeit not as much for a project of this caliber.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

5.0
N/A
5 - Fully thought out and planned.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

5.0
N/A
5 - Carefully planned and fully transparent.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.
Token Sale Score:
4.4

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