It has been reported that the Theta Network has welcomed a new member into its validator program. The latest company that will be joining the validator program is the European subsidiary of Sony. The Theta Network is prominently known for being a video protocol that is based on the decentralized blockchain network.
Sony has confirmed that it is their research and development group from Europe that has joined the enterprise validator of Theta. The name of the research and development group of Sony in Europe is the Center Europe Brussels Laboratory.
The recent joining of the Sony subsidiary with the validator program of Theta was announced by both firms on Tuesday, March 2, 2021. The companies have revealed that they will also be working on the governance council program apart from the enterprise validator.
Following the announcement of the joining, the Sony subsidiary has announced that it will be helping Theta Network with the enterprise validator project.
The Sony subsidiary has revealed that it will be operating one of the nodes for the enterprise validator. The node that the Sony subsidiary is going to operate is based on the proof-of-stake consensus protocol for Theta. It has been revealed that the particular node that the Sony subsidiary is to operate is located in Europe. This node is responsible for validating the transactions that flow through the said protocol.
Theta Network has also confirmed that the Sony Europe subsidiary would also be one of the governing council members at Theta Network. The company will be providing Theta Network with full support in ensuring the stability of the network, its security, and the planning of the strategic technology.
Sony is the latest major company that has become a contributor to the Theta Network in its validator program. In the past, the Theta Network has been joined by several major companies from different sectors.
Some of the major companies supporting the Theta Network include the tech giant, Samsung, and the search engine giant, Google.
Apart from the above platforms, the network is also some of the major firms from the crypto-sector as its members. Names of some of the major cryptocurrency firms include Gumi, Blockchain.com, and Binance.
Mitch Liu, the CEO of Theta Labs also talked about Sony Europe being the latest member in its validator program. He stated that the Theta Network is making constant development in the decentralized sector. It has been making a swift transition from a centralized platform to a decentralized platform.
As of now, the Theta Network has 14 validators verifying the transactions for the project from different locations. The firm stated that out of the 14, 7 validators are being run by the Theta Network itself, while the 7th node from the remainder is being operated by Sony Europe.