JRNY Crypto
This week I noticed the crypto altcoin THETA was up nearly 5x in the last month. This article is going to be a review of the THETA cryptocurrency project and both their tokens THETA and TFUEL.
Theta is a decentralized video delivery network that was first built on the Ethereum network, but then switched to their own blockchain once it was completed. Their current blockchain is designed with the incentive of sharing your bandwidth with other network users.
Theta is currently building a peer-to-peer mesh network that aims to solve the issues of poor reach, high-cost setup and a centralized structure, while also using blockchain to create an incentive layer to reward users for contributing to the network and keep the network performance fast.
How Does Theta Work?
There are two major parts to Theta. The first being the video delivery network that is comprised of users who join the network and contribute bandwidth. The second part is the Theta blockchain itself, which is used to reward users for contributing with THETA tokens.
Without the incentive to run a node and contribute to the network, the user wouldn’t be inclined to participate and give up their bandwidth. The potential by adding crypto rewards is huge and could lead to the best video delivery network in existence.
The Theta Network
I won’t bore you with the technical aspect of the Theta Network, as that could be an entire 1000 word blog post in itself.
The Theta Blockchain is designed to reduce delivery costs by up to 80% from the existing infrastructure. By removing the middle man that is the massive data cents that currently power CDNs, you not only can earn crypto, but also be part of a much faster and cheaper network.
Digital media is advancing very quickly and the current centralized infrastructure that is in place won’t be able to handle the amount of power that is required for high-quality games, virtual reality and 8k movies. Theta Network solves this issue.
The THETA Token
The purpose of the THETA token is to pay and reward users that contribute their bandwidth to the network. THETA tokens will also be used to purchase premium content, tip and pay content creators, trading virtual products and more.
At the time of this post, THETA is trading at 5x higher than it’s low in mid March on Black Thursday. Many believe the price is rising due to the launch of mainnet 2.0 which is currently 6 days away.
TFUEL Token
In addition to THETA token, the project also created a 2nd cryptocurrency called TFUEL, which stands for THETA FUEL. This new token was created for additional rewards on their streaming platforms ThETA.tv and partner sites GFUEL and SAMSUNG VR.
You can also use TFUEL to make donations to streamers, pay for premium content and get account upgrades.
As the THETA network and these streaming platforms grow, the price of the tokens should increase as well. The project is also working on addition utility for both these tokens.
The Theta Team
One thing to really take note of is how impressive the Theta team and advisors is. The team consists of over 14 members all having a multitude of blockchain, video network and media experience.
One advisor they take great pride in is Steve Chen, who is the co-founder of YouTube. Other notable mentions are Justin Kan the Co-founder of Twitch, and Clifford Morgan the CEO of GFUEL.
Buying and Storing THETA and TFUEL
The largest exchange to offer these Theta tokens is Binance. There are many other exchanges offering THETA but with much smaller volume, so the recommended exchange to purchase these tokens is Binance.
Click here register at Binance Exchange with discounted trading fees
To store your THETA and TFUEL tokens, it’s recommended to use their native wallet found at thetatoken.org. You can also store your tokens in the Ledger Hardware Wallet if you want to further secure your tokens.
Other wallets that support THETA and TFUEL are Trust Wallet and Atomic Wallet.
Theta Samsung Partnership
Something very impressive that Theta Network has coming up is the deal they secured with Samsung to pre-install THETA.tv to millions of Galaxy mobile devices. This will bring thousands of new investors to both tokens and grow the THETA network tremendously.
If users are happy with the THETA tv streaming network, this could be the catalyst that takes THETA to the big leagues.
THETA.tv on Android TVs
At the beginning of May 2020, Theta also launched their app on Android TV, bringing TFUEL token rewards to smart TVs all around the world.
Having easy access to THETA.tv will increase the amount of users and in time boost the price of TFUEL token. This can also introduce many people to the Theta Network.
Theta Network Mainnet 2.0
Theta is very close to launching their mainnet 2.0 which will introduce guardian nodes. This is a revolutionary, two layer consensus mechanism optimized for video delivery.
Theta also announced they have just passed 1,000 nodes on the Theta Network and expect many more after launch of mainnet 2.0.
The Future of Theta Network
With a strong team of experts and advisors, I believe the Theta Network will continue to grow to new levels and we will see the Theta Network become the best video delivery network in existence.
During this next bull run, I expect both THETA and TGUEL to have excellent performance and tremendous growth.
