Theta Fuel is the second native token of Theta blockchain. It works as a utility token. Its main function is to incentivize the network participants for lending redundant computing power. Theta blockchain is a content distribution network that makes content delivery seamless for video on demand platforms. Besides incentivizing participants for relaying content and validating transactions, it is also used as gas (transaction fee) for deploying smart contracts on Theta blockchain.
As a blockchain, Theta is razor focused on solving major challenges that content distributors face. Content streaming platforms in the traditional space rely on centralized systems to distribute content. This puts a lot of scalability pressure on servers which in turn hampers the content quality and issues of downtime. To resolve these challenges, Theta allows users to stream the content and relay it for effective distribution of the content.
|Founder||Mitch Liu and Jieyi Long|
|Blockchain Protocol||Proof of Stake|
|Circulating Supply||6,015,966,822 TFUEL|
The entire Theta Blockchain’s ecosystem was founded by Mitch Liu and Jieyi Long in 2017. Liu has a BS in Computer Science Engineering from MIT, and an MBA from Stanford Graduate School of Business. Before founding Theta, Liu developed and scaled numerous content and gaming platforms. He founded Gameview Studios – the creator of the famous game Tap Fish which clocked the highest downloads on both play store and app store.
Long is the co-founder and CTO of Silver TV and Theta Labs. He holds a degree in Bs in Microelectronics from Peking university. He has also been a research assistant (PhD) at Northwestern university. He has patented content delivery technologies under his name.
Theta Fuel works on a peer to peer protocol which is similar to Tendermint (the protocol used in Cosmos) To become a validator on the Theta blockchain an individual (guardian node) must have a minimum of 1000 THETA tokens to stake and earn TFUEL as rewards. Whereas, an enterprise node requires 1 million THETA tokens. Both THETA and TFUEL power the Theta blockchain ecosystem.
There are three categories of validators on Theta network. They are Enterprise Vallidator nodes, Guardian nodes and Edge nodes.
Enterprise Validator node: In this category firms stake a huge amount of THETA tokens to relay content by streaming it. The validator nodes play a vital role in securing a blockchain. Eminent firms like Google, Samsung, Binance and Gumi are a part of this category.
Guardian node: These nodes are managed by a community of validators. Together a group of individuals contribute to achieve consensus at predefined targets. The guardian node is responsible for doing an audit of the transactions made by Enterprise validators.
Edge nodes: This category allows individuals to lend their computing power to stream content on Theta Tv. These participants are rewarded with TFUEL tokens. The network allows peer to peer content distribution without the need for a content delivery network (CDN)
The unique case of Theta blockchain is that it offers a suite of offerings including decentralization of video content distribution, delivery and streaming. Besides this, the platform also offers a hallway for users to put their redundant computing power to use. Theta as an ecosystem benefits three groups. The first is content consumers who get to stream quality content, second is content creators who get to broadcast their content to a bigger audience and earn higher revenues and third are the content on demand platforms who don’t have to worry about building tech infrastructure from scratch.
|Theta Fuel Price Today||₹4.64|
|Price Change <Yearly>||NA|
|Market Rank (as per CMC)||111|
|Fully Diluted Market Cap||₹27,853,403,893|
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