Theta (THETA) is a cryptocurrency that powers the Theta Network, a decentralized platform for video streaming. THETA is used to govern the network, and users can stake THETA to participate in governance and earn rewards.
How does Theta work?
– The Theta Network uses a peer-to-peer model where users share bandwidth and computing resources.
– The Theta Network includes the Theta Blockchain and the Theta Edge Network.
– The Theta Blockchain handles payment, staking, rewards, and smart contracts.
– The Theta Edge Network handles video streaming, AI tasks, and other use cases.
What is THETA used for?
– Users can stake THETA to become Validator or Guardian nodes, which helps produce new blocks and validate transactions.
– Users who stake and run a node earn a proportional amount of the new TFUEL generated.
– Other Theta Network tokens:
– Theta Fuel (TFUEL): Used as gas for transactions and on-chain smart contract interactions.
TFUEL is used to: Pay Edge Nodes for sharing video streams, relay existing video streams, and interact with smart contracts.
History
The Theta team is made up of experienced technologists and executives from Salesforce, Netflix, Amazon, Samsung, Vimeo, and Google. Theta’s unique combination of AI + blockchain expertise are the key to empowering AI and video teams with unrivaled GPU price-to-performance.
Theta is led by CEO Mitch Liu, co-founder of Gameview Studios (acquired by DeNA) and Tapjoy (acquired by ironSource), and CTO Jieyi Long, co-founder of MadSkill Game Studios. Collectively they hold over a dozen patents in AI, blockchain, video, digital rights management and more.