ell, the co-founder of Youtube Steve Chen and the co-founder of Twitch, Justin Kan have collaborated to help advise Theta Network in becoming the most superior video streaming platform in the entirety of Web 2 & 3.
The Theta Network was founded in 2017 with the mission to build a decentralised blockchain that focuses on video streaming, a $90B industry that is consistently rising. How will Theta Network destroy leading competitors, YouTube and Twitch?
Let’s find out!
Theta Network is a Peer-to-Peer (P2P), Proof-of-Stake (PoS) blockchain which incentivises users to share their computing resources whilst watching video content. Why is this and how does it work?
How Does Theta Network Work?
Well, as a user watches a video and shares their computing power. Simultaneously, what happens is part of your computer power is shared with other users who are watching that video. The user who is sharing their power will be rewarded with tokens for doing so (TFUEL)!
Unlike other PoS blockchains, the Theta Network has 3 different types of nodes to run their fully decentralised blockchain:
As I just mentioned, users who share computational resources by setting up an Edge node will be rewarded with TFUEL tokens.
These are nodes set up by large companies such as Sony, Google and Samsung. Validator nodes require a minimum of 1 million staked THETA tokens (very expensive) and have the role of processing every transaction that takes place on the network.
Act as a second layer of security for the Validator nodes. They double-check that the transactional blocks are created by Validators, which if they’re not will be blocked and destroyed.
These nodes work together to create a secure, fast and rewarding network.
Theta Network Ecosystem
When the Theta Blockchain was launched, the Theta team created the first dApp within the ecosystem, called THETA.tv which is a live video streaming platform that rewards both streamers and users who watch content on the platform. Both streamers and users will earn TFUEL tokens!
The ecosystem has grown to see many other popular built or integrated dApps, such as:
This is the first-ever DEX on the Theta Blockchain where you can swap native tokens or provide liquidity to earn extra rewards (Risk of impermanent loss).
The OpenSea of the Theta Network. You can discover top-tier NFTs such as an official Steve McQueen collection, MetaCannes Film3 Festival and so many more exclusive projects. ThetaDrop is currently in the Beta stages, but it is still incredible!
Theta’s very own Metaverse that will thrive when the narrative makes an entrance!
Designed for the enormous esports community, ThetaTV is the ultimate streaming platform that allows users to watch videos and earn the TFUEL token!
Many famous streamers would love this ecosystem…
Theta Network Tokens (THETA/TFUEL)
Theta’s blockchain is home to two native tokens, both serving different purposes:
The governance token which allows entities to set up nodes and create/vote on proposals! THETA is required to set up any of the node options, as mentioned above. All nodes reward you with TFUEL tokens.
A superior reward token for those who watch, stream, stake and provide computing power! TFUEL is also known as the “operational token” as it powers everything on the network and is used to pay for gas fees, share live streams and so much more!
Both tokens hold separate utilities and together create the perfect dual-token economy for the entertainment industry.
How to Buy Theta Network THETA & TFUEL
Both the THETA and TFUEL tokens are not available on Ethereum or any EVM-compatible networks. The THETA & TFUEL tokens are available on centralised exchanges and can be held, bought or sold on decentralised exchanges within native Theta Wallets.
There are two main ways to buy THETA and TFUEL, but you will always go through a centralised exchange (CEX). Here are the options:
Option 1- Centralised Exchange
Finding TFUEL and THETA on CEXs is easy! We recommend using one of these centralised exchanges when buying or trading the THETA & TFUEL tokens. Here is a list of CEXs with a few delicious promotions:
- Binance - The most popular CEX in the world
- ByBit - EARN UP TO $30K in DEPOSIT BONUSES
- BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
- Coinbase - Spend $100 and Get $10 back!
Option 2 - DeFi Wallet & Decentralised Exchange
To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor/Ledger):
- Theta Wallet - The leading wallet within the ecosystem. This is recommended by the team!
- TrustWallet - Top-tier multi-chain wallet
If you are buying TFUEL & THETA through your DeFi wallet, we have compiled a small list of Decentralised Exchanges (DEXs) for you to swap or trade assets that are available on the network.
- ThetaSwap - We have already spoken about this DEX!
- Voltswap - Community-powered DEX
- Theta Bridge - Need to swap or bridge over tokens from different blockchains? This bridge has you covered!
There are not that many decentralised exchanges in the ecosystem as of yet, but these are the three most used DEXs in the ecosystem.
Next time you’re watching your favourite YouTube or Twitch streamer, don’t forget to tell them about the Theta Network and Theta.TV! Whilst you’re at it, you may as well tell everyone who’s watching. The world is missing out on a source of income…
At the time of writing, THETA is sitting at a price of $0.589, ranked #58 on CoinMarketCap and has a market cap of $589M! The THETA token once peaked at an all-time high of $15.90 and reached a market cap of over $13.4B!
TFUEL on the other hand is currently priced $0.031 with a market cap of $199M. It is clear that there is potential, for both tokens.
Theta Network Roadmap
2023 seems to be very exciting for the Theta community. There is so much on the roadmap, I will only pick out a few worth sharing:
- Q2 - Metachain partners launch in Testnet
- Q3 - Metachain partners go live on Mainnet
- Q3-Q4 - Next-Gen Theta Edge Network
As I mentioned, there is more on the roadmap and you can take a look for yourself by following this link and scrolling to the bottom of the page!