In this article I will be going over the core platform right now for THETA which is Theta.tv
The gaming community is huge and grew by leaps and bounds over the last year while everyone was in lock down. We also saw random bans, suspensions and so forth which made us really consider the legitimacy of some of these platforms such as Twitch and Youtube.
To me gaming is one of the best ways to bring in crypto adoption. Nearly everyone plays some sort of game and adding a crypto currency as a currency for the game is rather easy to setup. In most cases and cases where we have seen success people honestly are not even aware they are buying a token or crypto. Instead they think it's just some in game currency!
We have seen other platforms start to rise but none that really stand out. Until now...
THETA
What Is Theta?
THETA token is associated with TFUEL and in being so has gained a lot of traction as of recently. With more and more people looking for decartelized solutions THETA token is currently in a prime spot to achieve this.
Traditional systems currently have a streamlined version of getting content to the viewer.
Content Creator > Video Platform > Centralized CDN > Viewer
Within this streamlined process there is A LOT that can go wrong in terms of the content creator to the viewer and often times the issues are just lack of the network being too congested. You've noticed this most likely yourself when trying to stream a new movie, or watch a high end streamer with hundreds of thousands of viewers. Your stream buffers, it looks bad or you simply just can't connect.
Well Theta aims to correct this by allowing every computer to act as the CDN network and share data with viewers. For doing so you earn a crypto called TFuel which is the Gas of the network. It rewards those who are watching and delivering content to others.
By doing this the system can now detect your location to the person requesting it. This allows for faster delivery of the stream content and allows you the viewer to have multiple touch points for a better streaming experience.
Key Facts Of Theta
- 12 validator nodes, 395 guardian nodes and 1726 edge cacher nodes
- Low transaction fee under 1 TFUEL per transaction
- 6 second block time
- Block size up to 8,192 transactions per block
- Proof-of-Stake system
THETA is the governance token of the Theta protocol. There is a max of 1,000,000,000 tokens of which will be used as validator and guardian nodes.
TFUEL however is the gas price you know on systems such as Ethereum. It's what keeps the system running and charges the fees. These are awarded to people based on various actions that help improve the entire CDN network.
For instants you can yourself right now watch stream and earn TFUEL for free by joining Theta.tv
You simply watch a popular stream and for doing so you act as a possible CDN you'll see this by clicking on the TFUEL earned section in the bottom right of the stream.
Ways To Earn TFUEL
While I went over one of the easiest ways to start earning TFUEL above by joining Theta.tv There are a number of other ways and more to come as Theta Mainnet 3.0 gears up for launch in just 30 days!
However these are main nodes and they are limited and not open to all. You need a serious amount of tokens to be able to run a node yourself so for a large majority of us that puts us out of reach of running a Theta Edge Node.
This is where earning TFUEL instead comes in which is also increasing in value right along with THETA
Note that the THETA token is pre-mined at these rates
Private sale: 30% at $0.0067 USD per token.
Team: 7.49%
Advisors: 1.23%
Partners 12.5%
Network Seeding: 12.5%
Labs Reserves 36.28%
The next option is to become a streamer yourself! You can earn by having people watch your stream as part of the TFUEL earned by those watching is given to you the streamer just for streaming! You also can earn from Tips in TFUEL and of course FIAT if you set it up for your stream. There are a number of great benefits for streaming yourself on Theta.tv
The last option is by providing Bandwidth to the network by running a caching node and earning some extra money.
THETA is mainly used to create a Validator node which in effect can earn a massive amount of TFUEL for doing so. However the cost of a Validator is 10,000,000 THETA!
So is it worth buying THETA?
For myself no, for you or a team it could be a good starting option to get on the near ground floor of this. What I do believe in is stocking up on as much TFUEL as possible while the getting is still good.
*This article is for entertainment purposes only. Do your own research and understand all risks before investing.
