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What Is Theta Fuel (TFUEL)?

Theta Fuel ( TFUEL ) is one of the two native tokens on the Theta blockchain. TFUEL should not be mistaken for Theta Token ( THETA ), which is the administration keepsake of the Theta blockchain supported by thousands of community-run Guardian nodes and its Enterprise validators including Google, Binance, Blockchain ventures, Gumi and Samsung. TFUEL is the second keepsake on the Theta blockchain that serves as the utility token in decentralized video and data delivery, it besides acts as a accelerator token. This means that it is used to exponent all operations on the Theta blockchain, like payments to relayers for sharing a video stream, for deploying and interacting with smart contracts, and as fees associated with transacting NTFs and DeFi applications. In addition, it is besides used to incentivize users in the ecosystem who contribution their pleonastic computing baron as Edge Compute nodes angstrom well as bandwidth resources as Edge Caching nodes for video recording streams and other data .

Who Are the Founders of Theta Fuel?

Theta Fuel, and in extension, the stallion Theta Ecosystem, was co-founded by Mitch Liu and Jieyi Long in 2017. Liu has a retentive history in the gambling, television and virtual world industries, co-founding video recording ad firm Tapjoy, mobile social gaming inauguration Gameview Studios, and, the live stream platform whose DApp was the first to be built on the Theta protocol.

Jieyi Long is Theta ’ s moment co-founder and CTO, following exchangeable multi-year have in design automation, gambling, VR, and big scale distributed systems. He authored multiple peer-reviewed academician papers and holds versatile patents in video recording pour, blockchain and virtual reality. theta immediately has a humble team, and its official web site lists strategic corporate investors as Samsung NEXT, Sony Innovation Fund, media investors BDMI Bertelsmann Digital Media Investments, CAA Creative Artists Agency, and traditional Silicon Valley VCs including DCM, Sierra Ventures and the VR Fund .

What Makes Theta Fuel Unique?

Theta ’ sulfur main use case is decentralizing television streaming, data delivery and edge calculation, making it more efficient, cost-efficient and fair for diligence participants. The network runs on a native blockchain, with two native tokens, known as Theta ( THETA ) and Theta Fuel ( TFUEL ), powering the inner economy. Theta ’ mho appeal is treble : viewers get rewarded with better quality streaming service, content creators improve their earnings and middlemen — video platforms — save money on build infrastructure and increase ad, subscription revenues. Users have an incentive to both watch net contentedness and parcel network resources, as rewards come in the form of TFUEL tokens. The platform is open source, and token holders receive administration powers as with many proof-of-stake ( PoS ) -based blockchain ecosystems. In summation to video, data and calculation, Theta caters to developers looking to launch decentralized applications ( DApps ) such as DeFi and NFTs on its fully featured EVM-compatible chic condense platform.

How Many Theta Fuel (TFUEL) Coins Are There in Circulation?

As earlier mentioned, there are two coins in the Theta ecosystem ; THETA and TFUEL. Both coins are used as the independent tools for interaction on the Theta blockchain, however serve different functions. There are presently 5,232,675,200 TFUEL coins in circulation, which grows each year as new TFUEL is generated for staking rewards. theta Tokens are fixed and at their soap issue, which means there are 1,000,000,000 coins in circulation which will never increase. Theta runs on the proof-of-stake algorithm, which means venture is possible. Since the measure of THETA in circulation is the soap provide there will ever be, TFUEL is the reward for staking on the network. To qualify for stake, you have to venture at least 1,000 THETA to a defender Node or run your own defender Node .

How Is the Theta Network Secured?

The Theta Blockchain relies on a proof-of-stake consensus algorithm. It, however, adds a multi-level Byzantine Fault Tolerance ( BFT ) consensus mechanism on its blockchain to achieve better security along with higher transaction throughput.

At the time of Theta Mainnet establish in March 2019, Theta introduced Guardian Nodes. With the Guardian Node, no single entity controls the majority of THETA tokens being staked at any one time. This far helps the network achieve a high transaction throughput of 1000+ TPS. Theta uses a fiscal incentive dodge to ensure exploiter participation in administration activities, and hence its network is secured by its own users .

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