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HomeCrypto BasicsWhat is Theta Fuel (TFUEL)?

What is Theta Fuel (TFUEL)?

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Theta Fuel (TFUEL) is the utility token of the Theta Network, a blockchain system created to facilitate the creation, distribution, and consumption of online video. Two tokens comprise the Theta ecosystem: one utility token (TFUEL) and one governance token (THETA).

Theta Network is an innovative blockchain platform revolutionizing the entertainment and media industry. By leveraging the dual-network architecture of the Theta Blockchain and smart contracts, existing video and media platforms can significantly reduce content delivery fees and create new avenues for revenue generation. Moreover, end users benefit from being rewarded for exchanging data across any PC, mobile device, or smart TV. 

Theta is a comprehensive, end-to-end decentralized video streaming and delivery infrastructure that seeks to provide users with technological and financial solutions. It also stores and delivers media assets such as images and videos. Ultimately, Theta intends to serve as a long-term, sustainable incentive mechanism that encourages participation in an entirely decentralized video delivery ecosystem.

Who are The Founders of Theta Fuel (TFUEL)?

Mitch Liu and Jieyi Long are credited as the creators of the entire Theta ecosystem and its associated cryptocurrency, Theta Fuel, which was established in 2017. Theta has attracted an impressive list of investors, such as the Sony Innovation Fund, Samsung NEXT, CAA Creative Artists Agency, DCM, and Sierra Ventures.

Read more: What is Harmony (ONE)? How to Use and Buy it

Theta Fuel (TFUEL) Features and Updates

Theta Fuel (TFUEL) is an essential asset in the Theta Network, providing a variety of functions to users. It is used for interacting with smart contracts and is also a gas for the protocol. It works on the ‘Proof-of-Stake’ consensus algorithm and has approximately $2 billion market capitalization. Additionally, TFUEL serves as a means of payment for setting up caching nodes and is used as fees for NFTs and Decentralized Finance (Defi) applications.

Theta uses a multilevel Byzantine Fault Tolerance (BFT) consensus mechanism for additional security and higher transaction throughput.

Lastly, Theta Network is a fast and efficient platform composed of 10 to 20 Validator Nodes and more than a thousand Guardian Nodes. To ensure that the Guardian Nodes meet the standards required by the Validator Committee, Theta Network only requires them to agree to the hash of the checkpoint blocks.

What Makes Theta Fuel (TFUEL) Unique?

Theta Fuel (TFUEL) is one of the most popular cryptocurrencies in the crypto space. However, these key features make it unique in its way.

Streaming data is usually obtained from Content Delivery Networks (CDNs), but Theta Network uses a different system where sharing between peers takes place. This way, users that actively watch and share the video streams receive TFUEL tokens, which can be used to pay gas fees.

Moreover, Theta Network uses the Resource Orientated Micro-payment Pool. In this off-chain payment pool, users can create an off-chain payment pool from which other users can withdraw using off-chain transactions.

How Many Theta Fuel Are There in Circulation? 

The current market cap of Theta Fuel is $189,346,895. A high market capitalization implies that the market highly values the asset. The current circulating supply of Theta Fuel is 5.97B. 

How is the Theta Fuel Network Secured?

The blockchain secures the Theta network it runs on. The network uses a “Proof Of Stake” consensus algorithm based on the Tendermint code. Level one includes validator nodes that verify transactions processed by other nodes on the top level of the blockchain. These nodes are run by large corporations such as Samsung or Google. Level two involves community nodes, which verify that validator nodes are processing information correctly.

Read also: What is Polymath (POLY)? How to Use and Buy It

How Can Crypto Investors Use Theta Fuel?

Theta Fuel provides security, speed, and trustless transaction in a decentralized environment. Below are the ways how to use Theta Fuel:

  • Streaming: Earn Theta fuel coins for every minute of stream viewing on Theta TV
  • .International Transfers: Theta fuel coins could be transferred easily to family and friends.
  • Smart contracts: Theta fuel is also used for deploying and interacting with smart contracts. 
  • Investment: Theta fuel has grown exponentially in the past, which makes it a good investment

Where Can You Buy Theta Fuel (TFUEL)?

Investors can buy Theta Fuel on any crypto exchange. As with most altcoins, when an investor buys Theta Fuel, such tokens can be traded for bitcoins or used within the platform.

 Investors do this on exchanges like Binance, Kucoin, Gate.io, Crypto.com, and others. 

Theta Fuel (TFUEL) is currently trading at 0.03166

FAQ 

Is Theta Fuel a Good Investment?

Since Theta Fuel is one of the cryptocurrencies that expanded so quickly, it has a good potential for growth in the future. As a result, many market fans are optimistic about the coin, particularly based on previous data.

Does Theta Fuel Have a Future?

TFUEL’s price prediction is feasible by examining previous price movements, current events, and public opinion. Price forecast for Theta Fuel in 2023: According to our estimate, Theta Fuel’s price will range between $0.21 and $0.36, with an average price of $0.30

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