Theta Network

THETA Price

What is Theta Network?

Theta network is a decentralized video streaming network that is powered by blockchain technology. Theta allows users to watch video content and get rewarded with tokens as they share their internet bandwidth and computing resources on a peer-to-peer (P2P) basis. Besides a line-up of institutional investors like Node Capital and DHVC, Theta Network is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

How does THETA work?

The video streaming services on Theta rely on a distributed network of users who voluntarily contribute their spare bandwidth and computing resources to run Theta’s system, in return for Theta Fuel (TFuel) reward.

Theta runs on a modified proof-of-stake consensus mechanism as it has a unique multi-Byzantine Fault Tolerance (BFT) which combines a committee of 20-30 Validator nodes with a second later of thousands of Guardian nodes. This acts to speed up approvals and is faster than traditional proof-of-work networks. Theta’s multi-BFT design achieves a healthy balance between consistency, speed, and decentralization.

With this architecture in place, Theta’s Network’s content storage and delivery capabilities are powered by Theta Edge Nodes. Besides the Validator and Guardian nodes, community members of Theta also operate the Theta Edge Nodes, which make up the Theta Edge Network that is fully decentralized for data delivery and edge computing. Crucially, edge nodes allow users to capture live video, transcode and relay video content as well as share bandwidth across the network globally without the need for centralised servers. As of April 2021, the edge network has as many as 30,000 nodes, if not more; making it the backbone for Theta’s P2P content-sharing ecosystem.

In addition, Theta can support Turing-complete smart contracts. These smart contracts open a new avenue for various user experiences, as more DApps are built on the Theta network. Subsequently, Theta launched the Theta Token Minter which allows any user to create new TNT-20 tokens on the Theta blockchain with no smart contract experience required – meaning users can input token name, ticker symbol, and supply parameters of their new token and the Token Minter will mint the new tokens. This seamless and non-technical way to mint tokens on the Theta blockchain invites a wide range of DApps and assets that can be built on the protocol.

Theta Network operates on a dual token design:

THETA is the native token for Theta Network that serves multiple governance tasks. THETA is used to stake as a Validator or Guardian node. Its Validator notes are run by Google, Blockchain Ventures, Samsung, Sony Europe and Binance, along with a network of community-run Guardian nodes. By staking and operating a node, users earn a proportional amount of new Theta Fuel.

Theta Fuel (TFUEL) is the operational token of the Theta protocol. TFUEL is used for on-chain transactions such as rewarding Edge Nodes relayers for sharing video content, or for interacting with smart contracts. So, TFUEL can be earned by relayers of the Edge network for every video stream they relay to other users on the p2p network.

Why was this project started?

Theta aims to provide blockchain-enabled solutions to issues, such as poor quality and inefficient bottlenecks, faced by the traditional video streaming system.  Currently, most centralized video streaming platforms suffer from poor infrastructure and high costs that result in poor user experience. In turn, content creators earn less due to barriers such as these between them and end users.  The team at Theta Network aims to disrupt the traditional video streaming industry in its current centralized form and rely on a distributed network of users whose contributions are rewarded.

Where can you buy Theta Network?

THETA tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Theta Network is Binance, where the most active trading pair THETA/USDT has a trading volume of $65,926,713.37 in the last 24 hours. Other popular options include WhiteBIT and BYDFi.

What is the daily trading volume of Theta Network (THETA)?

The trading volume of Theta Network (THETA) is $250,370,674.37 in the last 24 hours, representing a -11.00% decrease from one day ago and signalling a recent fall in market activity.

What is the all-time high for Theta Network (THETA)?

The highest price paid for Theta Network (THETA) is BTC0.0002785, which was recorded on Apr 16, 2021 (over 3 years). Comparatively, the current price is -80.90% lower than the all-time high price.

What is the all-time low for Theta Network (THETA)?

The lowest price paid for Theta Network (THETA) is BTC0.0₅9399, which was recorded on Mar 13, 2020 (over 4 years). Comparatively, the current price is 7,337.00% higher than the all-time low price.

What is the market cap of Theta Network (THETA)?

Market capitalization of Theta Network (THETA) is BTC30,090.1726 and is ranked #64 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of THETA tokens (1 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Theta Network (THETA)?

The fully diluted valuation (FDV) of Theta Network (THETA) is BTC30,090.1726. This is a statistical representation of the maximum market cap, assuming the maximum number of 1 Billion THETA tokens are in circulation today. Depending on how the emission schedule of THETA tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Theta Network compare against its peers?

With a price increase of 53.90% in the last 7 days, Theta Network (THETA) is outperforming the global cryptocurrency market which is up 9.70%, while outperforming when compared to similar Smart Contract Platform cryptocurrencies which are up 7.90%.