Theta Network /THETA

What is Theta(THETA)?

Theta(THETA) is a dual-token cryptocurrency system that is at the heart of the Theta Network– a layer-1 blockchain, introduced in 2018. This blockchain focuses on several uses, including video streaming, AI project hosting, and entertainment services. The Theta Network consists of: the Theta Blockchain, the Theta Edge Network, and the Theta Metachain. It employs a dual-token system whereby THETA is the main governance token where users can vote on protocol changes and TFUEL is the utility token used to make transactions within the system. 

THETA is used by Validation Nodes that verify transactions and create new blocks, or Guardian Nodes that enhance the security of the network by verifying blocks made by Validator Nodes. Each of these nodes is also compensated with TFUEL to act as fees for on-chain activities such as making a transaction such as video streaming and content delivery or executing a smart contract. 

Furthermore, TFUEL can also be earned by the Theta Edge Nodes that execute certain functions such as helping in the transmission of videos to specified endpoints on the Theta Edge Network. This will help both the providers of content and the users of the content to incur minimum costs and receive high-quality services.

What makes Theta(THETA) unique?

Theta stands out with its dual-token model, innovative edge computing capabilities, and partnerships with leading companies in technology and entertainment, such as Google and Sony.

Theta Network was co-founded by Mitch Liu and Jieyi Long in 2018, both of whom bring extensive experience in video streaming and blockchain technologies.

Benefits of Theta token to the users and in the blockchain
The Theta token ecosystem enables lower costs for video streaming, increased user engagement, and new revenue models for media companies. Users benefit from participation rewards, governance rights, and a robust decentralized infrastructure for various applications in the video and entertainment sectors.

History Of Theta Network?

The Theta Network was established in November 2017 by Mitch Liu and Jieyi Long to simplify the creation, streaming, and consumption of video content over the Internet. Some of the notable events and actions in its history include:

March 2019: Rollout of  Theta network "Mainnet 1.0", with THETA and TFUEL tokens.

May 2020: Launch of  Theta network "Mainnet 2.0", adding Guardian Nodes and EdgeCast for live video transcoding, cache, and relay.

June 2021: Release of Theta network "Mainnet 3.0" with TFUEL burning and staking functionalities added for Elite Edge Nodes.

December 2022: Unveiling of Theta network "Mainnet 4.0", which encapsulated the Theta Metachain.

January 2023: Announcement of the EdgeStore release and its alpha version. The list of plans for 2024 also contains the statement about the launch of Theta EdgeCloud on May 1, 2024, as a hybrid cloud computing platform targeted at AI video and media applications in entertainment, a few other projects like Theta Hackathon, enhancement of the Theta Video API, introduction of new subchains, etc.

How Does Theta(THETA) Network Work?

Theta Network employs a flexible hybrid cloud edge computing framework to improve video streaming and Artificial Intelligence workloads. Its main features differ in composition and include multitiered distribution of workloads and efficient task organization.

For this reason, the network allocates edge nodes into three “business” shards: 

• Managed Shards, which are trust-ethic nodes maintained by Theta Labs, are very good for reliability-demanding jobs such as training deep learning models and enterprise workloads.

•  Data Center Partner Shards are located in partner data centers and offer performance consistency with higher-end hardware for jobs with specific SLA overheads.

•  Community Shards run on personal devices such as computers and phones and while not as powerful, are more efficient in short parallel jobs like fine-tuning an AI model and rendering video.

Shard Management

Apart from that, a layered management system controls the shards and worker nodes. High-level managers are called the Coordinator Cluster, which centers the entire system, providing high scalability and reliability while efficiently distributing compute jobs to appropriate nodes. Each shard is Governance according to the Master Cluster, which contains features like APIs and Schedulers and has several master nodes for redundancy. Worker Nodes implement the Theta edge node client software on hardware of different levels in each shard to enhance performance.

Task Assignment

Clients make requests for computing tasks, and the Coordinator Cluster decides on which of the nodes to send the request to based on its efficiency score regarding the type of the job, its cost, and the tools needed for its completion. Reinforcement learning, for example, can also be considered as a possible solution for improving this aspect.

Token Rewards for Edge Nodes

Tasks that edge nodes go through, earn them TFUEL or tokens from projects that partner with Theta Network, and these tokens are referred to as TNT-20. Rewards are based on which task was done, how accurate the results were, how long did it take to finish it, and how many resources were used. KYC is also provided where the results are verified by a coordinator using zero-knowledge proofs which ensures that the task was done properly but no private details that could compromise the correctness of the proof are disclosed to anybody.

Such a well-built system makes it possible for the Theta Network to handle the processes of video streaming, and AI applications and offer these high-quality services to their users.

THETA Token Performance Highlights 

THETA was introduced as the native cryptocurrency of the Theta Network in March 2019. This network was developed to facilitate the decentralized process of video streaming, A.I. projects, entertainment systems, and other related services

Supply and Economic Model

The total supply of THETA’s economy is limited by the issuance of a total of 1,000,000,000 tokens only and all total mint was done during the launch.

Unlike some cryptocurrencies, the supply of THETA is fixed to 1B and so the only way that the network can remain secure is through the provision of staking incentives. Stake THETA to earn TFUEL, which is the gas token to be utilized on all transact activities and on-chain usages. 

THETA Coin Price History

THETA attained its All-Time High of $15.90 in price in April 16. 2021 and also its All-Time Low of $0.039  on Mar 13, 2020.

Being a video-centric platform with a focus on distributed content playback, the addition of such technological solutions as Edge Nodes and the Theta Metachain made it possible to grow a viable project, which has become popular among developers, content creators and companies within the ecosystem of blockchain video streaming.

Where to Buy THETA Token?

With the approaching active year 2024, traders and investors can access over 70 cryptoasset trading platforms including centralized trading platforms and decentralized trading platforms that support trading and exchange of the THETA token.

Centralized Exchanges

To begin with the discussion on CEX platforms, a few platforms that tend to grab a large share of the trading volume are Binance, Bybit, and OKX. Other CEX platforms worth mentioning are KuCoin, HTX, Bitfinex, and DigiFinex. Exchanges targeted for the US markets are Binance US Crypto.com Exchange, and BitMart as well.

Decentralized Exchanges

THETA is accessible on ITDs as well, with "ChangeNOW" and "Energiswap" being the major decentralized exchanges offering such services. These DEXs create an opportunity for the users to exchange THETA without a central figure allowing more liquidity to the system.

THETA Pairings commonly found in the market

THETA/USDT, THETA/USD, THETA/BTC, THETA/ETH, and THETA/TRY respectively.

Theta supported Wallets

THETA Users in possession of Theta tokens may store the tokens in different forms of wallets available including web, desktop, and hardware wallets. 

• Theta Web Wallet: This is an online wallet accessed using a web browser. THETA tokens and TFUEL can be kept, sent, and received using this wallet without having to install any software. It is useful since users can access it from any internet-enabled device in a short time. 

• Theta Desktop Wallet: This is a software application to download and install on your computer. Its basic functions (storage, sending, and receiving of tokens) remain the same but it allows users to have a higher level of privacy since it is stored inside the user’s device, and in this way the user has control over all of their private keys.

Both wallets are native wallets, which means that they are both safe and permit users to use the Theta blockchain.

Theta(THETA) Network Prediction from the year 2025-2030

As per the Coinpedia analysis, one can expect the value of Theta Network between the years 2025 and 2030 as follows:

In 2025: The price of Theta Network has the potential of rising as high as $3.52, dipping to as low as $1.75 with the average hovering at $2.63.

In 2026: The price may increase to a maximum of $4.69 while the least is forecasted to be $2.24 with the average being $3.46.

In 2027: Theta may experience a high price of $6.11, a low price of $2.99, and an average price of $4.55 within the year.

In 2028: The maximum value for Theta may be $7.93, the lowest price may be $3.65 and the mean price could be $5.79.

In 2029: In this particular year, the cost could go as high as $10.65, the lowest cost could also be around $4.37 with the mean price being somewhere around $7.51.

By 2030: There is an expectation that the value of Theta will achieve a maximum value of about $13.88 where the lowest price level will be about $5.01 and average prices will be $9.44.