THETA/USD (-0.31%)
Theta Network quickly points out that it's not a decentralized version of Twitch or YouTube. What it is, though, is a media, AI, and entertainment blockchain. Its governance token, THETA, provides access to the network for various use cases.
THETA is one of two tokens on the blockchain. It serves as a staking and governance token, allowing for project transparency. Theta's unique design provides fast, low-cost, and green transactions. A Proof of Stake mechanism on the network makes THETA a highly secure token.
A Bit About Theta Network
The Theta protocol runs on a dual-coin system. THETA is the governance and staking token, while TFUEL handles utility. When it first launched, the token ran on the Ethereum network. It then moved to Theta's first mainnet.
Since then, the project has launched three other versions of its mainnet, each improving the token's functionality. Although Theta has its own blockchain, it's still ERC-compliant.
Hence, THETA token holders continue to benefit from Ethereum's vast user base. The Theta wallet allows for easy storage and use. Besides buying THETA, interacting with the network is another way to acquire the token. Engaging with content, such as videos, could earn you THETA.
Welcome to a world of decentralized video and streaming made possible with blockchain tech!CryptoLists.com
Theta is a decentralized content streaming network that operates on a modified PoS mechanism, called Multi-level Byzantine Fault Tolerance (BFT).
The configuration involves a Validator Committee that grants the initial approval for transactions and a Guardian Pool responsible for validating transactions. Thanks to this design, THETA is highly secure.
The Guardian nodes provide an extra security layer. Validators and Guardians stake THETA to ensure network security. THETA works hand-in-hand with TFUEL, the protocol's gas token. Where THETA is responsible for securing the blockchain, TFUEL handles operations. Staking THETA earns TFUEL, providing a way to pay for micro-transactions on the network.
Utility of Theta Network?
The demand for content delivery has never been higher, and expectations are that it'll continue rising. Therefore, the Theta network, and its tokens will have more value as decentralized streaming gains popularity. THETA handles some of the roles on the network to complement TFUEL. Over time, the token's utility might expand, but currently, it's mainly sized for incentivizing and rewarding different Theta ecosystem stakeholders.
Governance
Decentralization only works when no one party is responsible for decisions. So, community ownership is a principal component of a blockchain project like Theta. Leaving decision-making to community members allows transparency. THETA facilitates this process. Owning the token allows you to contribute to protocol decisions, network upgrades, pricing, and more.
Staking
If you own THETA, you can stake it to act as a Guardian node, giving you the power to seal blocks and verify Validator nodes. Guardian staking requires a minimum of 1,000 THETA. A quick look at the Theta network whitepaper tells you the other requirements. Find out if you qualify for the staking process. You can also stake the token to become a Theta Validator and help produce new blocks.
Earning TFUEL
Running nodes as a Validator or Guardian generates TFUEL, the network's gas token. Staking can earn 1-2 TFUEL per day, depending on the number of tokens. You can then use TFUEL to pay for transactions and other services, such as content streaming on Theta.tv.
Trading
If you are hoping to generate passive income from your THETA, then trading it is the best way to use it. The token is available on various exchanges with several currency pairs. You can trade THETA for another cryptocurrency for a profit. Trading crypto is a risky as any other investment. Learn everything you can about THETA before trading with it. Watch out for price volatility.
Theta Network Price details
›› THETA tokenomics and social media
Advantages of Theta Network
+ The network's multi-level BFT consensus design provides robust security for THETA transactions+ THETA has its own wallet that is available for download on Android and iOS
+ Token holders enjoy incredible speeds, with the network processing 1000 transactions per second
+ THETA transactions are energy-efficient, producing virtually zero carbon footprint courtesy of the consensus mechanism
+ Using THETA on the network earns TFUEL, which supports transactions and other utilities
Disadvantages
- THETA has low to medium liquidity, which reduces its value to token holders- A privatized ICO increased the token's centralization, posing a risk to new investors
- The Theta blockchain can be vulnerable to security attacks due to decentralization, risking the token's value
- Videos on Theta.tv take too long to buffer, which affects the cost of using it
Costs
▪ Rated at 8/10TFUEL is the token used to pay for transactions on the Theta network. Each transaction is about 6 to 10 TFUEL, approximately $0.3816 to $0.636 at the time of writing. Trading fees average $1.70.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 9.5/10
THETA didn't have a traditional ICO, which is one reason it failed to grab attention. The project only availed the token to private investors. It wasn't until the move from Ethereum to Theta's mainnet that the public started paying attention to the digital asset.
The value of THETA at a time when video streaming is a billion-dollar industry is clear. Social media sentiments about the token are largely positive, with crypto enthusiasts excited to experience the unique opportunities it affords.
A supportive developer community drives the token's growth and adoption. Theta Labs has strong credibility, which extends to the protocol. The network has attracted big-name investors and partners, including Samsung, Sony, and Nirvana Capital.
FAQ
Should I invest in the Theta Network token?
Investing in any cryptocurrency asset requires a proper comprehension of its rewards and risks. Be sure THETA meets your investment demands. Additionally, analyze the risks of such an investment.
Who is the founder of Theta Network (THETA)?
Mitch Liu and Jieyi Long founded the Theta network in 2017. Liu, the CEO, co-founded Gameview Studios and Tapjoy. Long, the CIO, co-founded Madskill Game Studios.
Are THETA transactions secure?
Yes. The network has several safety measures, including a modified BFT consensus design to protect against attacks. Its dual token system also improves the system’s security.
History of Theta Network
January 2018 – Theta Labs launched an ICO for its governance token, THETA, which was only open to private investors. It was an ERC-20 token running on Ethereum.
March 2019 – Theta's first mainnet, (Mainnet 1.0) launched, allowing the token to move from Ethereum to its own blockchain.
May 2020 – Mainnet 2.0 went online, providing a two-layer consensus framework, which included Guardian nodes. The mechanism improved transaction security and speed.
July 2021 – The launch of Mainnet 3.0 offered smart contract capabilities, thus enhancing interaction for token holders.
Screenshots from Theta Network
More sites where to buy/sell/trade Theta Network
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
