cryptocurrencies

Theta (THETA) - A Complete Guide

Daksh Murkute | | |

Theta is a decentralized blockchain ecosystem, which is trying to improve the delivery and streaming of video content. By using Theta, users can watch video content in their desired quality with very reduced cost.

 

It is trying to capture the market of centralized video content websites, and for this, it is setting up a peer-to-peer network that can allow the people’s system to use their unused bandwidth and resources.

 

There are two types of tokens in the Theta ecosystem. The first one is called THETA and the second is the THETA token. Each one has a different role in the system.

 

In this blog, I am going to tell you everything about Theta and its native tokens.

If we look at the current content delivery network around the world, most of them are dependent on centralized data centers and servers. And over the years the requirements are increasing with the demands. Now 4k content, 8k content, and even VR are ruling the world, and the hunger to get more and more quality content is increasing day by day. And with all this technology, the technical costs are also increasing.

 

All these problems are somewhat degrading the confidence of the content creators because of the low pay. Theta is covering this part of the market by providing a blockchain with cheaper delivery costs without losing the quality of the content.

 

What is Theta?

What is Theta?

Theta is a leading video delivery project working on a blockchain network. Its aim is to solve the problem of content delivery by providing it to the remotest locations throughout the world at a very reduced cost. Users can watch video content in their desired quality.

 

Major video platforms can join with this network for a very competitive and cheaper delivery cost of their content.

 

THETA is the native token of Theta.

 

What is THETA coin and TFUEL coin?

THETA coin is used for staking. By using THETA users can contribute to blocking production and protocol governance. Those who stake on the network are called nodes and are rewarded with the new token TFUEL, consider it like interest on THETA. THETA has a limited supply of 1 Billion.

 

          

TFUEL in Theta is the operational token. It is used for on-chain transactions like payments to the nodes available in the network for providing their services to the network. It is also used for staking and a minimum of 25% is burned after every payment through TFUEL.

 

What does THETA coin do?

 

What does THETA coin do?

 

The working of Theta is simple; it is made up of two main components.

 

  1. Theta Mesh Delivery Network- it is responsible for peer-to-peer streaming of content.
     

  2. Theta blockchain- it is responsible to provide security to the Mesh network and distribute rewards to the users.

 

Let's understand each, one by one.

 

Theta Mesh Delivery Network- as the name suggests mesh is the topology of the network in which each node can talk with the other. The same goes in Theta,  

 

Theta Mesh Delivery Network is a series of nodes that can talk with each other in the network and also act as a caching node.

 

Caching nodes are those nodes that store and relay video streams to other connected nodes.

 

There is something called Geo Optimized Tracker Server and Intelligent Player client that ensures that content is delivered without any delay.

 

Streamer, viewers, Advertisers, and caching nodes, they all are the participants in the Mesh Network of Theta.

 

Theta Blockchain- it works on the background of Mesh Delivery Network and provides support to it. It offers the consensus mechanism for Theta and also manages the distribution of Theta in the network. Let’s talk about some of its components.

 

  1. Consensus Mechanism- its consensus mechanism follows two-layer, first one is reserved for enterprise Validator Nodes, they are small in number and responsible for making new blocks on the blockchain. And the second layer has Guardian Nodes, they do the block finalization which is proposed by the first layer nodes.
     

  2. Smart contracts: Theta has EVM compatible smart contracts, which helps the rewarding systems become trustless in the ecosystem.
     

  3. Theta Edge Network: They help in the network as caching nodes and they can also solve small calculations for transcoding.
     

  4. Mining: Theta has also a mining concept in which edge nodes can stake TFUEL and earn more TFUEL and become Elite Edge nodes.

 

Where to buy THETA coin?

 

Where to buy THETA coin?

 

THETA can be bought in various exchanges, almost all the major exchanges have THETA like Binance, Houbi Global, etc.

 

Theta also has a dedicated wallet to store THETA. Its wallet can work both as a mobile or web.

 

Where to buy TFUEL coin?

 TFUEL is limited to only some exchanges like Binance, Bithumb, Gate.io, etc.

 

Is THETA coin a good investment?

 

Is THETA coin a good investment?

 

Theta is designed for long-term investments. And if you want to buy, now might be the best time to buy. It is the most underappreciated project available. It was started in 2018 as an ERC-20 token, the price when I am writing this blog is $6.48 USD. And the current market ranking of THETA is #30 according to market cap. It has a circulating supply of 1 Billion THETA coins with the same amount of maximum supply.

 

Also Read: Guide to Chiliz

Also Read: Guide to Sia Network

 

What do you think about the THETA coin?

Theta's uniqueness is its concept of decentralizing video streaming, as well as edge computing, data delivery, and everything else that makes it more efficient to achieve its goal. The network is powered by its own blockchain and has two native tokens. I believe it has a genuine roadmap and proper planning, as well as a well-thought-out thought process. It is, in my opinion, the most undervalued project out there, and it has the potential to explode in the near future.

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