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About Theta Fuel (TFUEL)
Theta Network is a decentralized content delivery platform. It allows users to leverage their spare computational bandwidth to facilitate video streaming across the Theta Network. The network comprises two components: one is the Theta blockchain, which is used for transaction validation, payment/reward services and executing smart contracts; the other piece of core architecture is the Theta Edge Network. It’s responsible for the storage and delivery of video content.
The Theta Blockchain is Ethereum Virtual Machine (EVM) compatible and secured via a rather unique consensus mechanism involving a series of enterprise validator nodes and community-run guardian nodes. As of mid-May 2022, leading tech/media firms – including Google, Samsung, Sony and MGM Studios – were operating enterprise nodes on the network.
Later this year, by December of 2022, the Theta Blockchain is set to become the Theta Metachain, a “network of networks” built with a purpose-specific sub chain. The move will allow Theta to “scale infinitely,” according to network documents.
The Theta Edge Network is responsible for storing and delivering video streams to the broader network. In contrast to a big company maintained hub of centralized servers, the Edge Network comprises of a collection of independent bandwidth providers (referred to as Edge Nodes) who share their spare computational resources with the network. In turn, this bandwidth can be used by independent video platforms and streamers to relay digital content to a global audience. Edge Nodes are provided with TFUEL for sharing bandwidth with the network.
TFUEL is one of two digital assets native to Theta; the other is THETA Token. According to the project’s whitepaper, TFUEL, serves as the Theta Network’s operational token. It’s used to pay gas fees and reward Edge Nodes.
Independent video platforms purchase TFUEL to pay for these content delivery services and provide tokenized payment to content creators and viewers. Theta also operates its own video platform Theta.tv which pays viewers to watch video content while simultaneously broadcasting that same content to the network, Decrypt explained.
More recently, Theta has added non- fungible token (NFT) integration into its platform, including an NFT-based digital rights management system.
How is the price of TFUEL determined?
TFUEL has both inflationary and deflationary mechanisms that would seem to contribute to the coin’s price direction. The protocol provides an inflation reward of 5% annually to TFUEL stakers, according to the project’s whitepaper. Additionally, the Theta mainnet 3.0 brought with it a deflationary burn mechanism that destroys at least 25% of each TFUEL payment on the network.
Why does TFUEL have value?
Given the costs and limitations of centralized content delivery networks, Theta would seem well-positioned to provide a decentralized, Web3-enabled solution. Likewise, the project’s Edge Network, which allows bandwidth providers to earn tokenized rewards for their otherwise unused computational resources, would seem to represent a value proposition as the Web3 era gains momentum and with video streaming more popular than ever.
What are the main benefits of TFUEL?
- TFUEL allows bandwidth providers to get paid for their spare computational resources.
- Theta is positioned as a legitimate centralized content delivery network.
- Theta provides quality 4K and 8K video streams at a fraction of the cost of existing services.
- Theta’s odds of adoption seem enhanced by virtue of the fact that it is backed by the likes of Google, Samsung, Sony and MGM Studios.
How to buy Theta Fuel (TFUEL)
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