Theta is a decentralized video delivery network, powered by users and an innovative new blockchain. 
Using a unique and innovative blockchain network, Theta is backed up by a team that holds more than three decades of experience in the video streaming space, including advisors such as Steven Chen, the co-founder of YouTube and Justin Kan, the co-founder of Twitch. 
The Theta Network will utilize an open source protocol that is specifically designed to decentralize streaming services. The unique nature of the Theta Network blockchain will also allow for the creation of decentralized app layers that provide specific functions, such as peer to peer streaming, live sports broadcasts, education, conferencing, television and movies, and more. 
The first app to be built on top of the Theta blockchain will be a SLIVER.tv dapp, bringing in millions of esports viewers on launch. The core principle of the Theta Network is that network participants that possess unused bandwidth or computing power will cache and relay streams to other network participants.
In turn, these users will mine the native crypto token of the Theta Network, the Theta token. This streaming architecture is extremely effective in geographic regions in which internet connections are unstable or unreliable, and also provide individuals in these regions with the ability to generate passive income from their unused bandwidth.
The peer-to-peer nature of the Theta Network will deliver far higher streaming quality, which will reduce the overall distribution costs for content producers, ultimately empowering the production of original content and reducing the cost of content for consumers. 
Problems Theta Aims to Solve
Some of the problems in the current live video streaming industry today include low-quality video streaming, the high cost of streaming infrastructure and centralized and inefficient ecosystems. Theta network plans to offer users high quality, smooth video streaming. Reduce cost of delivering video streaming and off viewer rewards as Theta token. They also offer users a decentralized CDN delivery streaming throughout the world. 
Theta has three novel concepts which include
Proof-of-engagement: a scheme that proves that viewers legitimately consume the video streams and provide better transparency to advertisers. Also, viewers can earn Theta token for engaging with content.
Reputation dependent mining: caching nodes in Theta protocol play a major role of miners in the Theta blockchain. The block reward is not constant but depends on reputation score of the caching node.
Global reputation Consensus: Theta proposes a mechanism to reach the global consensus on the reputation scores. 
Theta was co-founded and Mitch Liyu, CEO and CTO Jieyi Long. Head of product and platform is Ryan Nicholas, while Riz Virk is the head of Corp development.