How many tokens or cryptocurrencies are available in the market, and how do you know which one of them is worth your money and time?
Well, the entire question is pretty difficult to answer, and we are sure it will be hard for you to believe there are more than the few you know, like bitcoin, Ethereum, and the usual ones that appear on the news every five minutes.
The digital token market is quite wide in terms of how many options you have available, but, of course, everything ends up being a matter of what has value and what doesn’t and how you can decide to operate around those options.
To make this simple, you just need to know you have dozens from where you can choose. When it comes to the theta token in specific, investing in it or not is a bit questionable and a bit complicated to explain.
However, here we are, trying our best to go over the details you need to know and compile a full review that can help you to learn the basics and make a well-informed decision about the currency and how the entire system works.
So, if you are indeed here to learn more about theta token, you’re in the right place.
What Is Theta? – First, The Ecosystem
Before you think about a token, you need to remember the fact that systems and blockchains come first. In other words, you can’t have a cryptocurrency before a network is created and use it as the currency to operate in it.
Don’t worry; we will dive deeper into the currency topic and how to use it, but for now, let’s focus our attention on the real concept behind Theta.
Theta is a native blockchain that uses an open-source protocol. Using this means that developers and partners can build decentralized applications on Theta’s network or ecosystem, which is just like Ethereum and how it operates.
Thus, if you are familiar with Ethereum or maybe you’ve read our article about this blockchain, you will have a much easier time understanding Theta.
Now, besides being the general blockchain, it’s a peer-to-peer, decentralized video delivery network powered by the previously mentioned blockchain technology.
The benefit of using this system is that the system allows free and high-bandwidth content delivery.
Basically, users watch videos, and part of their computing power can be harnessed to transmit those videos to others, with primary users receiving tokens in exchange for their contribution or participation in the ecosystem.
This Theta Network is aiming to be the next generation in entertainment technology. And surpass the regular places or video platforms like YouTube or the booming streaming option, Twitch.
Since it provides a decentralized video streaming infrastructure that’s cheaper than centralized ones and a peer-to-peer video delivery platform powered by its users, it could end up being a better alternative for people around the world.
The best part is that Theta already offers multiple content types, including movies, TV series, and music.
But Then, What Is the Theta Token?
Like all blockchains and decentralized systems or networks, Theta has its own token that is entirely native to use.
So far, you need to keep three parts in mind:
- Theta blockchain.
- Theta network.
- Theta token.
Since everything unifies, the latter is basically how you earn and operate when streaming the media content designed for the Theta Network.
That being said, we are now able to enter the entire definition.
The native token of the Theta Blockchain is THETA, and one of the main purposes or uses is to serve as a governance token.
THETA’s concept as a governance option and its use in the network is related to the fact that blockchains are decentralized by nature. This means that no single party can make any changes without reaching a consensus with other network members, and these members are those that somehow hold THETA.
Basically, the token has the voting power to approve and disapprove Improvement Proposals. This includes the network’s infrastructure, the limit and circulating supply of tokens, and the role of tokens in the network.
Because of its voting power, the THETA token has been designed to be inflationary and is, indeed, the future of the network.
Holders of THETA token are literally stakeholders in the project and are responsible for its direction. Thus, the importance of holding some of the tokens is more crucial than the common use people consider cryptocurrencies for.
Right now, the token is limited to a maximum of 1 billion tokens.
When it Started: Its Origins & Founders
How can you know if Theta, as a network, blockchain, and token, is reliable? You usually go back in time and take a couple of minutes to learn about its background.
Theta was established in 2017 by Mitch Liu, a serial entrepreneur who had previously co-founded mobile games and online advertising startups.
With experience in the entertainment niche, he decided to come up with a new idea that included the decentralized options available today. Next to him, Jieyi Lang, an expert on virtual reality live streaming technologies, decided to take part in the project and formed a team.
Theta’s team hosted a private token sale in 2017 to raise about $20 million to fund their project. They reached the goal when they were able to sell about 30% of the 1 million unit supply available of the token.
From here, Theta as a company was able to start working on the decentralized blockchain project. However, Theta Labs, which is behind Theta Network’s streaming site, has also come up with the idea of Theta.tv as a streaming site.
This site, in particular, charges viewers TFUEL to view video content. Some of the primary users can “forward” it to others in the process as well.
As you can notice, the entire company actually involves more than the actual blockchain and token we are covering today.
However, there aren’t many details about the process of the company and its growth over the last four years except for the statistics shared and obtained from the analysis of all the networks and sites developed by the company-
Today, the Theta Network’s advisory panel includes Justin Kana, who is Twitch’s co-founder, and YouTube co-founder Steve Chen as well as a number of senior executives from Verizon.
Theta’s Structure: How It Works & the Token’s Role
We know that it can be a bit confusing for us to dive into the blockchain and network and the entire world Theta. However, we find it quite hard to remain neutral about everything and just focus on the token that, although it is crucial and has its role, it isn’t the main focus of the element.
Instead, if we decide to explain the Theta token alone, will there be something more to say than the fact it is a native token of the blockchain? We don’t think so unless we decide to talk about its use and how everything operates.
For it, we just fall here: Theta’s structure and all the ecosystems available.
That being said, the first thing to know is how Theta’s blockchain network works.
Since it is built on a peer-to-peer (P2P) protocol, this allows participants to receive real-time rewards for content distribution, as previously mentioned. Also, developers can create DApps using the open-source blockchain protocol.
What is special about this network is that Theta uses a proof-of-stake consensus system similar to Tendermint, which is based upon staking. Participants can lock in large amounts of THETA tokens to be able to process transaction blocks.
For this entire network or ecosystem to work, Theta is powered by three types of participants:
- Enterprise validator nodes.
These companies hold THETA tokens and process transactions on the network.
Some of the businesses involved include Sony, Google, the talent shop Creative Artists Agency, and Samsung.
Participants must stake 1 million THETA coins to validate nodes, which are the network’s first-line defense.
- Guardian nodes.
Guardian nodes are community nodes that maintain consensus through securing validation at predefined points.
These users ensure that transaction blocks created using enterprise validator nodes are executed correctly, adding a second layer to security to the protocol.
A guardian node will block any malicious blocks that slip through validator nodes, and for this participation, Guardian nodes need to stake only 1,000 THETA coins.
- Edge Nodes.
Edge nodes enable users to transmit video streams and share bandwidth with Theta.tv.
For supporting the network, they are awarded TFUEL. The Theta network allows users to stream peer-to-peer without the need to use a central content delivery network.
In case you are a bit confusing, TFUEL is another Theta’s native token and something we will mention a bit later.
Working with Two Tokens: THETA & TFUEL
Continuing what we mentioned about TFUEL and Theta’s tokens, you must know that one of Theta’s unique features is exactly what we will be discussing here.
In the case of TFUEL, it trades at $0.43 per currency and has a market cap of $2.3 billion.
Meanwhile, THETA trades at $7,20 and has a market cap of $7.2 billion.
Participants of Theta Network who share video content with edge nodes receive a reward for streaming data with TFUEL, just like we mentioned. At the same time, end-users are not charged for content distribution because the platform pays for it.
Edge nodes stream only small portions of videos, and end-users can watch content from multiple community nodes, but not full videos.
Similar to BitTorrent, where torrent users are paid for seeding content or contributing to others’ download speeds. So, you can use this example to understand the concept of TFUEL a bit better.
Finally, as we mentioned, THETA’s use remains: It is a governance token that helps manage the blockchain and its future development.
What you don’t know is that THETA tokens can be staked for TFUEL. Still, users need at least 1,000 tokens in order to become eligible guardian nodes and 1 million tokens to become enterprise-level validators.
Theta’s Purpose, Uniqueness & Use
With all the crucial details clear and the fact we talked about its use as a governance token, we can finally focus on the entire purpose behind the token and the ecosystem or network.
We know it can be confusing to understand Theta and why someone would even come with the idea of creating it. However, it can also be easier to find the answers and process them than you think.
To keep it simple, Theta is a blockchain-based platform that aims to revolutionize video delivery. It is designed to encourage its global community of users to support a fully decentralized streaming video platform instead of using the regular media today.
Despite technological advancements, video streaming quality is not up to viewers’ high standards.
Because of their server locations, video streaming platforms and content distributor networks are constrained. Ordinary content distribution networks are paid to provide video content to end-users, but centralized servers can’t keep pace with the ever-increasing demands for streaming quality.
Theta’s goal is to bridge the gap between streaming speed and quality by enabling its global user community to relay videos using its computing power.
The network will have more bandwidth available for video streaming if there are more users, which will increase streaming speed and quality.
It allows content creators to have greater control over their content and its monetization, which was designed to also increase the network’s popularity.
Theta is also supported by investors who believe blockchain technology will be the future of video streaming platforms, considering the current market and how decentralized blockchains are conquering several aspects.
As for the token in specific, the entire option you have is to use it as a virtual currency that will just continue to grow and bring more benefits in the long term instead of being a good option right now.
Theta price is currently set at $6,51 and is considered to be one of the best to invest in due to the rights you get inside the network and how it can be used for digital payments and specific cryptocurrency transactions.
Is Theta What You Need?
It’s not a bad idea to invest in cryptocurrency exchanges and look for options that aren’t as saturated and high as bitcoin or the regular currencies.
However, when you consider the entire market and how volatile it can be, you need to think: “Is this really what I want to invest my money on based on how things can change in seconds?”
It is difficult to keep up with the market cap, but it is quite easy to lose money in the process even when you invest in low-cost tokens like Theta.
You can certainly start small and see what happens, but how long will this work? It just doesn’t feel right.
We have invested in currencies, and THETA is also part of our current currencies in our Binance account, but we feel local lead generation is more cost-effective and profitable than relying on something you never know if it will boom or fall to the deepest hole.
Still, if you decide to invest in this token or other digital currencies, just friendly investment advice: Try your best to stay updated with the market and be instructed about when and why to sell or buy.
This is definitely the best financial advice we can give you.
Now, going back to what we mentioned, you don’t need to take too many risks with lead gen, and you aren’t betting on a cryptocurrency market cap that is more volatile than the wind itself.
Local lead generation can be easier and more effective than many people believe. You can easily make thousands of dollars if you work hard, and the investment isn’t minimal but neither a fortune.
How does it work? How can you start working on it? Can you learn everything?
All the answers can be found right here!
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