Friday, March 29, 2024
by Hideo Nakamura
Rank #50
Theta Network (THETA)

Theta Network THETA

$ 2.94
0.00004186 BTC
Marketcap
$ 2,944,760,262
Volume (24h)
$ 42,656,263
Circulating Supply
1,000,000,000 THETA
Total Supply
1,000,000,000 THETA
  • Charts
  • Historical Data
  • Markets
  • Social
  • Comments
  • Zoom
  • Hour
  • Day
  • Week
  • Month
  • Year
  • All Time
  • Type
  • Line Chart
  • Candlestick
* Currency in USD
Historical Price for Theta Network
DateOpenCloseHighLowVolume
Theta Network Markets
#SourcePairVolumePriceChangeUpdated
THETA

Theta Network (THETA) price has decreased -0.81% today!

Theta Network (THETA) is a cryptocurrency that operates on a blockchain. Currently, it is trading at $ 2.94 and a market capitalization of $ 2,944,760,262. The price of Theta Network has decreased -0.81% in the last 24 hours. Currently, Theta Network ranks #50 among all cryptocurrencies by market capitalization and has a daily trading volume of $ 42,656,263.

What is Theta Network?

Theta Network content Screenshot 2021 06 04 at 23.58.24

Theta network is a decentralized video streaming network that is powered by blockchain technology. Theta allows users to watch video content and get rewarded with tokens as they share their internet bandwidth and computing resources on a peer-to-peer (P2P) basis. Besides a line-up of institutional investors like Node Capital and DHVC, Theta Network is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

How does THETA work?

Theta Network content Screenshot 2021 06 05 at 00.01.27

The video streaming services on Theta rely on a distributed network of users who voluntarily contribute their spare bandwidth and computing resources to run Theta’s system, in return for Theta Fuel (TFuel) reward.

Theta runs on a modified proof-of-stake consensus mechanism as it has a unique multi-Byzantine Fault Tolerance (BFT) which combines a committee of 20-30 Validator nodes with a second later of thousands of Guardian nodes. This acts to speed up approvals and is faster than traditional proof-of-work networks. Theta’s multi-BFT design achieves a healthy balance between consistency, speed, and decentralization.

With this architecture in place, Theta’s Network’s content storage and delivery capabilities are powered by Theta Edge Nodes. Besides the Validator and Guardian nodes, community members of Theta also operate the Theta Edge Nodes, which make up the Theta Edge Network that is fully decentralized for data delivery and edge computing. Crucially, edge nodes allow users to capture live video, transcode and relay video content as well as share bandwidth across the network globally without the need for centralised servers. As of April 2021, the edge network has as many as 30,000 nodes, if not more; making it the backbone for Theta’s P2P content-sharing ecosystem.

In addition, Theta can support Turing-complete smart contracts. These smart contracts open a new avenue for various user experiences, as more DApps are built on the Theta network. Subsequently, Theta launched the Theta Token Minter which allows any user to create new TNT-20 tokens on the Theta blockchain with no smart contract experience required – meaning users can input token name, ticker symbol, and supply parameters of their new token and the Token Minter will mint the new tokens. This seamless and non-technical way to mint tokens on the Theta blockchain invites a wide range of DApps and assets that can be built on the protocol.

Theta Network content Screenshot 2021 06 04 at 23.59.47

Theta Network operates on a dual token design:

THETA is the native token for Theta Network that serves multiple governance tasks. THETA is used to stake as a Validator or Guardian node. Its Validator notes are run by Google, Blockchain Ventures, Samsung, Sony Europe and Binance, along with a network of community-run Guardian nodes. By staking and operating a node, users earn a proportional amount of new Theta Fuel.

Theta Fuel (TFUEL) is the operational token of the Theta protocol. TFUEL is used for on-chain transactions such as rewarding Edge Nodes relayers for sharing video content, or for interacting with smart contracts. So, TFUEL can be earned by relayers of the Edge network for every video stream they relay to other users on the p2p network.

Why was this project started?

Theta Network content Screenshot 2021 06 05 at 00.00.40

Theta aims to provide blockchain-enabled solutions to issues, such as poor quality and inefficient bottlenecks, faced by the traditional video streaming system.  Currently, most centralized video streaming platforms suffer from poor infrastructure and high costs that result in poor user experience. In turn, content creators earn less due to barriers such as these between them and end users.  The team at Theta Network aims to disrupt the traditional video streaming industry in its current centralized form and rely on a distributed network of users whose contributions are rewarded.

How do I get THETA?

THETA can be purchased on exchanges such as Binance and Kucoin. You can browse through the various centralized and decentralized exchanges by heading over to our exchanges page.

Leave a Comment

Follow us

CryptokenTop

CrypTokenTop is a website dedicated to providing comprehensive information and analysis about the world of cryptocurrencies. We cover topics such as Bitcoin, Ethereum, NFTs, ICOs, and other popular crypto topics. Our mission is to help people learn more about the crypto space and make informed decisions about their investments. We provide in-depth articles, analysis, and reviews for beginners and experienced users alike, so everyone can make the most out of the ever-evolving world of cryptocurrency.

© 2023 All Right Reserved. CryptokenTop

en_USEnglish