Theta Labs awarded U.S. Patent for “Decentralized Edge Storage Network With Flexible File Sharding”

Theta Network Update for March 29, 2023

The video is an update on the latest news about Theta Network. It covers the new patent awarded to Theta Labs and its implications for decentralized edge storage networks.

New Patent Awarded to Theta Labs

• Theta Labs has been awarded US Patent 11611 615b1 for a decentralized edge storage network with flexible file sharding.

• The patent validates the innovative and novel approach to decentralized edge networks built by the Theta team.

• Flexible file sharding makes the network's decentralized storage functionality more robust and effective.

• An early Alpha version of The Edge store Gateway implementation is already live at dataedgestore.com.

Implications of the New Patent

• The patent follows previous patents issued for decentralized data streaming and delivery, ultra-high transaction throughput micro-payments methods, systems for pure node discovery, decentralized digital rights management via NFTs, preventing denial services attacks, and decentralized edge networks.

• The Theta edstar library implements a unique technique called flexible file sharding which can be viewed as a probabilistic extension of the chord protocol for distributed hash tables.

• A wide array of decentralized applications can be built on top of the Theta Edge store including permanent storage for digital assets such as images and videos; training datasets such as pre-trained models generative task outputs; data availability services for layer 2 scaling solutions; a decentralized content delivery network for video music game patches software updates; storage back in for general web 3D apps like blogging sites chat apps; decentralized app stores; decentralized GitHub repositories; metaverse digital assets like 3D models of characters and buildings in virtual reality worlds.

• Theta Edge nodes already support decentralized streaming and encoding/transcoding. With the addition of decentralized storage, the Edge node will offer a complete and decentralized service for video streaming as well as any other type of file transfer or streaming.

Conclusion

• The production version can be used as a scale by enterprises around the world.

• The new patent is a significant milestone for Theta Network and its ecosystem.

Theta Edge Network

This section discusses the Theta Edge Network and its innovative technology. The network uses flexible file sharding and other patented techniques to achieve high scalability, resource availability, and security. It supports various types of content delivery within a unified data retrieval framework.

Key Points:

• The Theta Edge Network uses flexible file sharding to achieve high scalability and resource availability.

• The network attains self-organizing, self-adaptive, self-evolving, minimal operational overhead, highly available, robust characteristics.

• A network node can join or leave at any time.

• The network supports delivery of various types of content such as live streams, video demand, data blobs within a unified data retrieval framework.

• It is highly secure with digital rights management compatible with general data protection regulations.

Theta Hackathon 2023

This section announces the opening of submissions for the Theta Hackathon 2023. Builders are encouraged to submit their projects in gaming and metaverse NFTs mini-chain and video projects categories.

Key Points:

• Submissions for the Theta Hackathon 2023 are now open.

• Over 250 plus prizes will be awarded in gaming and metaverse NFTS mini-chain and video project categories.

• Fuse Wars team clarifies that they did not participate in last year's hackathon but will participate this year.

OpenTheta CEO Meets Mitch Liu

This section discusses Pizza Jolo's meeting with Mitch Liu, the CEO of Theta Labs. The meeting was described as an amazing honor to connect with such an innovative and visionary leader in the tech industry.

Key Points:

• Pizza Jolo, the CEO and founder of OpenTheta, had a meeting with Mitch Liu.

• The meeting was described as an amazing honor to connect with such an innovative and visionary leader in the tech industry.

Pine Castle's One Year Anniversary

This section congratulates Andrea Berry on her one year anniversary at Theta Network. She has been head of Business Development for one year now.

Key Points:

• Andrea Berry celebrates her one year anniversary at Theta Network.

• She has been head of Business Development for one year now.

Popsmags Pine Cast Episode

This section announces a new episode of Popsmags Pine Cast. The episode covers pie news, Simply News, KP3 drop, March Madness bracket Scandal, and much more.

Key Points:

• A new episode of Popsmags Pine Cast is available.

• The episode covers pie news, Simply News, KP3 drop, March Madness bracket Scandal.

Theta Network Update

This section provides an update on the Theta Network, including its price, trading volume, and staking nodes.

Theta Price and Market Cap

• The price of Theta is at $1.04 with a market cap of $1.04 billion.

Trading Volume and Staking Nodes

• Trading volume for Theta is at 26.4 million.

• Total staking nodes for Theta are 3152.

• T fuel staked and locked away is at 59.89 percent.

T Fuel Price and Market Cap

• The price of T Fuel is at $0.053 cents with a market cap of $326 million.

• Trading volume for T Fuel is at 88.5 million.

• Total Elite Edge nodes are 8157, which have been upgraded to Elite status by staking a minimum of 10,000 TQ.

• T Fuel staked and locked away is at 39.31 percent.

T Drops Price and Market Cap

• The price of T Drops is at $0.004 cents with a market cap of $43.7 million.

• Trading volume for T Drops is at 85,000.

• No information available on the change between Theta and T Fuel in a 24-hour period due to technical issues with Theta Lands website.

Movement on Fiately.com

This section discusses movement on fiately.com related to the Theta Network.

Transactions on Fiately.com

• Transactions were happening in the South Korea region as well as Kucoin and Gate IO in the US related to the Theta Network.

Conclusion

This section concludes the update on the Theta Network.

Final Thoughts

• If you enjoyed the update, hit the thumbs up and subscribe to the channel.

• The Crypto Sherpa is signing off.