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What is Theta (THETA)
Theta is a decentralized network specializing in video delivery that uses the Theta Network blockchain. Launched in 2019, Theta provides free, high-bandwidth streaming that also utilizes a viewer’s computing power to share video with other users. This sharing activity gives the primary user token rewards.
THETA is an ERC-20 token that lets holders participate in Theta’s governance protocol. Users can also stake Theta to become a Validator or Guardian node and generate news blocks of transactions on the network. The total supply of the token is one billion, making it deflationary. Theta Network also has the cryptocurrency TFUEL, which users earn by watching streams and sharing their bandwidth. TFUEL is used to pay for transactions such as interacting with smart contracts and setting up caching nodes. The token also cannot be withdrawn from the Theta.tv platform.
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