Theta Network

What is the Theta Network (THETA)?

THETA is a native coin Theta Network, which is a decentralized video streaming platform. It functions by allowing peer-to-peer (P2P) data exchange computing resources and bandwidth. If you’re interested in current Theta Network pricing, check out the THETA pricing chart above.

Overall, the Theta Network crypto project aims to change the state of the video streaming world by turning decentralization into a centralized industry. The project’s goal is to make the industry more efficient, accessible, and fair for all participants.

Speaking of the participants, Theta benefits viewers, content creators and video platforms. Viewers experience higher-quality videos, content creators earn higher profits, and video platforms increase advertising and subscription revenues while spending less on infrastructure.

The network runs on its own blockchain called Theta. Besides the THETA coin, it also has TFUEL (Theta Fuel) coin. Just as gas is used to support transactions on Ethereum, TFUEL does the same on the Theta network. The maximum number of tokens is 5 billion. In addition, TFUEL is also used to reward viewers for watching videos broadcast on Theta Network and for sharing the content with others.

Also note that Theta Network offers developers Full-featured smart contract platform compatible with EVM to launch your own decentralized applications (dApps). The first dApp built using this platform was a live streaming platform called TETA.tv (This decentralized application was developed by Mitch Liu, co-founder of Theta).

The price of Theta Network is affected by fluctuations in the entire cryptocurrency market. It is known for its volatility and rapid changes in value.

Theta Network Developers

Mitch Liu and Jiey Long founded the Theta Network crypto project in 2018. At the time of the platform’s launch, Theta Network’s price was fixed at around $0.15. It remained in this range for the first two years of its presence on the market.

Jieyi Long has extensive experience in large-scale distributed systems, virtual reality, gaming, and design automation. Mitch Liu also has extensive experience in the gaming industry. Prior to founding Theta Network, Liu co-founded Gameview Studios and Tapjoy.

Except, Justin Kahnco-founder of Twitch and Steve Chenco-founder of YouTube, are consultants to the Theta crypto project.

Starting from the second half of 2020, the asset began to behave more volatile. A few days before the new year, THETA price exceeded $1 for the first time. It has largely been on an upward trajectory throughout 2021, peaking at $14 in April.

It was noted that THETA tokens follow general trends in the cryptocurrency market. For example, the price of Theta Network was negatively affected by the collapse of the cryptocurrency market in May-June 2022.

How does the Theta Network work?

To balance security and high transaction throughput, the network uses Proof-of-Stake (PoS) consensus mechanisms and multi-layer Byzantine fault tolerance (BFT). However, the PoS consensus mechanism that Theta uses is different from the traditional PoS mechanism due to the integration of multiple BFTs.

In addition to using only Validator nodes which validate and create new blocks on the chain, Theta also uses Guardian nodes. They seal blocks and serve as protection against malicious or untrusted Validator nodes. In this way, Theta ensures that no single entity can control the majority of the THETA staked coins.

In addition to the Validator and Guardian nodes, there are also Edge nodes managed by community members. Essentially, Edge nodes allow users to record, encode, and stream live video. In addition, they allow users to distribute network bandwidth across the world in a decentralized manner.

However, please note that while Guardian and Edge nodes are community-run, Validator nodes are operated by Google, Blockchain Ventures, Samsung, Sony Europe and Binance.

Purpose of THETA coins

The main purpose of THETA coins is network management. Since the network uses a PoS consensus mechanism, by staking THETA coins, users can gain control rights. This means that they can participate in decision-making processes regarding the further development of the network and the allocation of its funds. Additionally, users receive TFUEL coins for running nodes and staking THETA coins.

THETA Tokenomics

The maximum supply of THETA coins is 1 billion tokens. Therefore, the asset is anti-inflationary. The Theta Network’s price is likely to rise as available supply dwindles.

THETA coins were originally released in 2018. Theta Network coins were initially issued as ERC-20 tokens are stored on the Ethereum blockchain. However, THETA tokens were later transferred to the Theta blockchain. like original coins. When the Theta blockchain launched in 2019, THETA holders received TFUEL coins at a rate of 1:5, meaning they received five TFUEL coins for every THETA coin.

During the private sale of THETA coins held in 2018, approximately 300 million THETA coins were given away. In this way, $20 million worth of Ethereum coins were collected. The coins remaining after the sale were distributed among the Theta reserve, miner reserve, network seeds, strategic partners and advisors.

If you are planning to buy THETA coins, be sure to check out the Theta Network price chart above.