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What is Theta Network (THETA)? Everything you need to know about THETA Token

Publish by Lucas at 07 November 2021

Theta is one of the first video streaming platforms in the crypto world. Video streaming has been around for a while and attracted many users in the past decades.

However, how does this work in the blockchain world? In this article, we will discover every piece of information about the project including the working architecture? Token use cases and other highlights of Theta.

What is Theta Network?

The Theta Network is a peer-to-peer video streaming platform that aims to provide cheaper, more decentralized entertainment than competing centralized ones.

Existing content delivery networks are unable to keep up in quality, which has led them out-of-date by the rapidly changing industry demands of high-quality streams while also being restricted geographically. Theta was developed to solve these underlying issues.

Theta Website: https://www.thetatoken.org/

It also offers multiple content types including e-sports and movies as well as TV series or music with its user-driven infrastructure powered by blockchain technology for trustless transactions between fans worldwide. Using Theta blockchain-based reward system allows users all over this planet to access premium content wherever they may be located.

How does Theta work?

The Theta blockchain is a P2P protocol for content distribution and transaction processing on the network. It uses Proof-of-Stake consensus, like Tendermint's system at its core which means users have an opportunity to process blocks if their token holdings increase in value over time.

The three categories of participants include:

  • Enterprise validator nodes: Companies who stake THETA tokens for the right to process transactions on the network. Current Validator Nodes include Google and Samsung.
  • Guardian nodes: Users who perform work to ensure that the transaction blocks proposed by the Enterprise Validator Nodes are accurate.
  • Edge Nodes: Users who either share their bandwidth or relay video streams over the Theta network in return for TFUEL.

By utilizing the THETA and TFUEL as two native tokens, the network allows participants to be rewarded in TFUEL whenever they distribute any content such as Video Sharing. On the other hand, THETA is designed to manage the governance of the network.

The key components of Theta also solve such issues include low-quality video and high costs for platform infrastructure that would otherwise ensure smooth Streaming service delivery to end-users.

What is THETA token?

As previously mentioned, the network has two native tokens:

  • THETA: With THETA, you can become a validator or guardian node to earn TFUEL. It also allows for the validation of transactions and producing blocks which are all necessary in order to maintain network integrity
  • TFUEL: TFUEL is the micropayment currency of videos. Users that want to share their streams with others will pay an Edge Node in TFUELS, which can then be used on Theta for streaming purposes

Token Information

THETA Token Price Today

Currently, you can track the token price on Coin98 Markets right at: https://markets.coin98.com/currencies/theta-token

Coin98 Markets is a website that helps users to get updates of the real-time prices, as well as view the detailed information of a Token Metric from any project. More specifically, you can access the home page or the community page of a project, or filter the coins/tokens by Market Cap, Trading Volume, etc.

THETA price is updated currently on Coin98 Markets (updated: 30th Oct 2021)

THETA Token Metrics

  • Ticker: THETA.
  • Blockchain: Theta.
  • Consensus: BFT, POS
  • Function: Governance.
  • Total Supply: 1,000,000,000 THETA.
  • Circulating Supply: 1,000,000,000 THETA.

THETA Token Allocation

THETA Token Allocation

THETA Release Schedule

All THETAs have been unblocked. The current circulation of THETA has fully capped 1,000,000,000 THETA.

How to buy THETA

THETA is operating on its own blockchain for now, Coin98 Exchange will be integrating the token native very soon.

Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.

How to mine THETA

All the THETA tokens are unlocked.

Alternatively, you can buy THETA on centralized exchanges such as: Binance, Huobi, Gate.io….

How to store THETA

You can store the THETA token on Coin98 Wallet when the token is supported.

Roadmaps and Updates

In Q4 2021, the project will be implementing important updates such as:

  • v2 Edgecast fully decentralized streaming Dapp.
  • Beta ThetaPass NFT as virtual tickets DRM.
  • Beta ThetaDrop unified marketplace.
  • Theta video API.
The roadmap of THETA

Team, Investors, and Partners

Team

The founding team of Theta
  • Mitch Liu | CEO: Is BS in Computer Science & Engineering from MIT and MBA from Stanford Graduate School of Business.
  • Jieyi Long | CTO: Is Ph.D. in Computer Engineering from Northwestern University. He also developed multiple patented technologies including VR live streaming as well as instant replays for video games.

Investors

Theta Labs has raised a total of $113M in funding over 5 rounds. Their latest funding was raised on Mar 23, 2021, from a Venture-Series Unknown round.

The project is also funded by many popular investors including: Sierra Ventures, IOSG Ventures, IBC Blockchain Capital, and many more.

Strategic partners of Theta

Partners

The Theta network has partnered with the most popular video streaming platforms and other key infrastructure projects such as Chainlink.

Theta has partnered with various projects from video streaming and entertainment industry

Is THETA a good investment?

This article has provided some of the main ideas related to the THETA token and its implications. You should always Do Your Own Research before making an investment decision.

However, it is important to note that there are a few key points that investors should take into account before making investment decisions:

  • Video streaming is a fairly new concept in the blockchain world. Theta is one of the leading and most successful projects to date. The project is also supported by many famous personalities including Steve Chen - Co-Founder of youtube. This is a project with a lot of potential in the near future.
Steve Chen is the Co-Founder of Youtube
  • Meter Passport, a cross-chain blockchain that connects leading blockchains like Ethereum and Binance Smart Chain has now added support for Theta blockchain — the first time allowing tokens to be moved between this new technology on top of Ethereum as well other networks. This collaboration will improve the scalability of Theta Network in the future.

Conclusion

I hope you have gained all of the important information about THETA including its features and highlights throughout this topic.

If you have any questions about THETA or want to know more about THETA, please feel free to leave a comment below and join Coin98 Community for further discussions about Crypto.

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Lucas

Lucas

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