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Everything You Need to Know About THETA

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What is THETA?

THETA is a decentralized video streaming network and cryptocurrency. It runs on its own blockchain. THETA provides a cost-effective and higher-bandwidth alternative to some of the cumbersome elements of other video streaming networks. It offers a unique incentivization system so that users can easily upload videos and reap rewards for renting out their spare bandwidth and computing resources. It is a multiplicative platform: as more users join the THETA network, more and more bandwidth becomes available and the system becomes more and more open for easy video streaming.

THETA’s tokens are the THETA coin, used for the voting consensus on changes to the blockchain and protocol, and TFUEL used to execute transactions. THETA is both P2P and open-source. It has immense scalability and is integrally based on how users interact with each other. Its open-source capacity allows the network to grow not only in video streaming but in software enhancements and content additions. The implications for THETA’s growth thus make it vast and powerful, with its ability to provide more than just video streaming but a host of other opportunities as well.

Who Created THETA?

Mitch Liu founded THETA.

When Was THETA Launched?

Liu launched THETA in March 2019.

How Does THETA Work?

THETA operates from a hybrid proof-of-work and proof-of-stake system. There are three types of participants who function as nodes: enterprise validators, guardians, and edges. The enterprise validators occupy the proof-of-stake function on the THETA blockchain. These nodes are for big businesses that stake THETA coins as a channel to deliver content and execute transactions. Guardian nodes are the main contributors to changes in the blockchain. They perform work to ensure the smooth operation and accurate execution of enterprise validators’ transactions. By doing so, they are afforded different types of rewards on the THETA platform. Lastly, there are edge nodes. These are the users who rent their bandwidth and ensure the primary functionality of THETA.

While THETA coins are the primary tokens/source of money on the THETA blockchain, THETA also distributes TFUELs. THETA coins are the governance tokens that provide users with systemic rewards, such as the ability to distribute content. Users receive TFUELs for directly contributing to the expansion of the system by A) viewing video streams and B) renting out their bandwidth. They are also the reward tokens for executing transactions across the THETA blockchain.

How to Keep Your THETA Safe

Users should store their THETA coins and TFUEL in a cryptocurrency wallet with a private key. This ensures users’ sole access to their funds.

Is THETA a Good Investment?

THETA has seen tremendous growth since its inception. At one point, it saw 1000% returns while other cryptos on the market had gone under. While it does have high volatility like any cryptocurrency, several review agencies have indicated its long-term benefits. THETA is a highly efficient system with uniquely strong processing power–three seconds per transaction. As the video streaming phenomenon continues to proliferate, THETA has become one of its largest contributors. The THETA blockchain also allows developers to add other services onto it over time, making it highly adaptable. Lastly, THETA hosts mammoth companies like Google, hugely increasing its overall value. Objectively, then, investing THETA seems like a worthwhile path to pursue, if cautiously.

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