What is Theta Network (THETA)? Things to know about THETA token 2020

Theta Network (THETA) is a project born with the aim of changing the face of streaming platforms to help this communication method reach its full potential. So…

  • What is Theta Network? What is THETA token?
  • Buy and sell THETA tokens Where is the reputation?
  • Should I invest THETA token are not?
  • THETA token wallet Which should be used?

If you are looking to find out Theta Network and potential invest THETA token, this article is what you need to find

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Theta Network? What is THETA token?

Theta Network is a blockchain protocol that integrates streaming platforms through which content providers (esports, sports, entertainment videos, education…) can effectively and optimally distribute them to their followers. Best.

Target of Theta Network is to create a global content distribution network with safe, efficient, and decentralized criteria through a token incentive mechanism.

Why was Theta Network born?

theta-network

Currently, the method of streaming video, also known as live stream, has become very popular and growing very quickly. However, it still has some shortcomings that make this communication method subject to certain limitations. Those disadvantages are:

  • Video streaming is low quality

The vast majority of streaming videos that are played to users are not of maximum quality, and lag often occurs. This makes the user experience limited, reducing the effectiveness of video streaming.

  • Revenues for content creators are garbled

Because video content creators are often under the management of media companies (centralization), most of the revenue from viewers will be clipped by the management company. So motivation for streaming video content creators will be negatively impacted.

  • High cost of setting up infrastructure

Solution of Theta Network

theta-network-solution

In addition to being a blockchain protocol integrated into streaming platforms, Theta Network there is also a reward system through tokens (creating an economic incentive) to incentivize content creators. Besides, Theta Network There are also improvements to improve the user experience such as:

  • Not only content creators, viewers can get THETA tokens

That’s right, viewers can get THETA token. Tokens received, viewers can use for different purposes.

  • Improved video streaming quality

In addition to using THETA token to reward viewers and content creators, the network Theta Network also give THETA token for those who share the bandwidth. This incentivizes individuals to share bandwidth resources which improves the speed and quality of video streaming.

What is THETA token?

THETA token is the base currency of Theta Network. It plays a key role in maintaining stability, security, and economic impetus for network participants.

At the time of its release, THETA token is an ERC-20 token that runs on the Ethereum blockchain.

Maybe you don’t know: What is ERC20? Learn more about ERC20 tokens and ERC20 wallets

Present Theta Network completed mainnet and THETA token is working on its own blockchain Theta Network.

Basic information of THETA token

Token symbol THETA
Blockchain Theta Network
Maximum total token supply 1,000,000,000 THETA
Total tokens in circulation 870,502,690 THETA

What is THETA FUEL?

There is a feature in the economic ecosystem of Theta Network, similar to NEO, that there are 2 tokens participating in operation.

THETA token acts as the governance token. THETA FUEL is used as a gas fee in Theta Network.

Basic information about THETA FUEL

Token symbol TFUEL
Blockchain Theta Network
Maximum total token supply 5,000,000,000 TFUEL
Total tokens in circulation 3,838,301,572 TFUEL

Distribution of THETA tokens

phan-phoi-theta-token

Should I invest THETA token or not?

Deciding exactly which coin or token to invest in is very difficult because the cryptocurrency market is very volatile. So, I will outline some key points for you to refer to then learn more and make your own judgment and investment decisions.

Theta Network development team

The development team of Theta Network includes experts from different fields. Here are the prominent names of the project:

  • Mitch Liu: Hold a position Cofounder and CEO. With a bachelor’s degree in computer science and engineering from MIT, an MBA from Stanford Graduate School of Business, he was a co-founder of SLIVER.tv, Gameview Studios, Tapjoy.
  • Jieyi Long: Cofounder and holds the position of CTO. With a PhD in Computer Engineering from Northwestern University, he has developed many new technologies and patented VR live streaming and video game playback platforms.

  • Ryan Nichols: Hold the position of product manager. Nichols is known as someone who has designed and launched many cryptocurrency systems for many platforms.

In addition to the three leading names and responsible for operating the above project, the development team has many other members. They are all prominent names in their fields. For more details about the team you can visit the project homepage: https://www.thetatoken.org/

Theta Network development roadmap

theta-network-roadmap

According to the project’s official homepage, in Q2-2020, the development team aims to launch a decentralized file sharing solution for the first time. With this solution you can share any file. From game and application patches to operating system updates.

Accompanied by protocol compatibility testing Theta on Smart TV or IoT devices.

Based on the roadmap given, it can be seen that the development team has determined a very specific direction as well as Theta Network is aiming for the adaptability of the protocol on all current popular devices to increase the adaptability. project use.

THETA token price

Gia-theta-token

Currently, at the time of writing THETA token price is being traded at 0.229 USD. Level highest THETA price so far is set at 0.555 USD (May 2020). That is, compared to the peak price, then THETA token price Currently dividing more than 2 times.

Meanwhile, THETA’s lowest ever price of $0.039 was set on March 13, 2020.

Where to buy and sell THETA tokens?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy THETA, sell THETA has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell THETA in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy THETA For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

The prestigious international THETA trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the floor name and transaction fee comparison table for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Houbi 0.070-0.20%
Okex 0.060 – 0.150%
Binance 0.015-0.100%

Mainly trading THETA Your account on international exchanges uses ETH, BTC, USDT … to conduct trading.

THETA token wallet should use

Depends on usage THETA token your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store THETA token long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

Maybe you are interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020

The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

Maybe you are interested: What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those who often transact.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Huobi exchange, Binance exchange…

Theta Network has released an official version of this wallet. To create a wallet and use it, visit the link: https://wallet.thetatoken.org/unlock/keystore-file

Conclude

This article has summarized the most basic information you need to know about Theta Network and THETA token. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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