Theta Fuel (TFUEL)
- Category: Cryptocurrency
- Coin Launched: April, 2021
- Resources: White Paper
- Official Website: Theta Fuel
- Reddit: Theta Fuel
About Theta Fuel
The operational token of the Theta protocol. TFUEL powers on-chain operations like payments to relayers for sharing a video stream, or for deploying or interacting with smart contracts.
Relayers earn TFUEL for every video stream they relay to other users on the network. You can think of Theta Fuel as the "gas" of the protocol.
THETA FUEL History / Information / Buying / Staking
THETA FUEL HISTORY
The Theta Network is a blockchain protocol for improving the process of creating, streaming, and consuming video content online. Theta Fuel Tokens are used in the network to incentivize users to act as peers who share redundant or excess computing and bandwidth resources with other peers. In June 2021, Theta Network added NFTs, e.g. trading cards of media celebrities, to the product portfolio. Prices are quoted in USD and TFUEL.
HOW THETA FUEL WORKS
Theta Token and Blockchain were announced on Medium in November, 2017. The first Theta token sale started in January, 2018, as an ERC-20 token on Ethereum. Theta Network launched its own mainnet 1.0 in March, 2019. When Mainnet 2.0 launched in May 2020, they introduced Guardian nodes, a two layer consensus mechanism to complement its Enterprise validators run by partners including Google, Samsung, Binance, Blockchain.com, and Gumi. Mainnet 2.0 also introduced a Theta "Edge Node" network with peer-to-peer “EdgeCast” technology. This decentralized technology stack adds the ability to capture live video, transcode it in real-time, cache and relay live stream video data to users globally. The Theta Network claims an edge network run by thousands of community members, without central servers or services.
BENEFITS OF USING THETA FUEL
Some of the benefits of using Theta Fuel are:
Theta uses a PoS consensus mechanism that requires less computational power.
Theta has a high transaction throughput as result of PoS.
Theta incorporates the use of smart contracts to facilitate the distribution of rewards and collections.
CAN YOU STAKE THETA FUEL
In order to stake theta Fuel, you need a minimum of 10000 theta fuel minimum. If you’re already running a Guardian Node and staking your Theta tokens, the process will be familiar to you. Tfuel staking is also available on smaller platforms.