About Theta token (THETA)

Theta token Frequently Asked Questions (FAQ)

What is the primary purpose of the Theta Network and when was it launched?


The primary purpose of the Theta Network is to decentralize video streaming, data delivery, and edge computing, making them more efficient, cost-effective, and fair for industry participants. The network was launched in March 2019.




Who are the advisors behind the Theta project and why are they significant?


The advisors behind the Theta project are experts from various fields such as technology, media, and gaming. They include co-founders of YouTube and Twitch, which lends the project significant credibility given their background in video streaming platforms. Their experience and networks are crucial for Theta's strategy, adoption, and technological development. Advisors play a vital role in guiding the Theta team, providing strategic insights, and helping to navigate the complex landscape of content delivery and blockchain technology.




How does THETA token function within the Theta Network?


The THETA token serves as the governance token of the Theta Network, allowing token holders to participate in the network's decentralized decision-making process. It is used to stake as a Validator or Guardian node, contributing to block production and the protocol's security through Proof-of-Stake consensus. THETA also incentivizes users and encourages engagement within the ecosystem.




Which major companies are listed as Enterprise validators on the Theta Network?


As of writing in early 2023, major companies listed as Enterprise validators on the Theta Network include Google, Sony Europe, Binance, Blockchain Ventures, and gumi. However, the list of Enterprise validators can change, so for the most current information, please check the official Theta Network website or their latest announcements.




What issues in the video streaming industry is Theta aiming to address?


Theta Network is targeting various challenges in the video streaming industry such as high content delivery costs, poor quality and buffering in remote areas, and centralized control which limits revenue streams and audience reach for content creators. It leverages decentralized peer-to-peer network infrastructure to improve video streaming quality, reduce delivery costs, and create a more open ecosystem for users and creators.




Can you name some of Theta Network's partners and their sectors?


Yes, some of Theta Network's notable partners include Sony (technology sector), Samsung (electronics), Google (internet services and products), Binance (cryptocurrency), Blockchain Ventures (blockchain investment), and Gumi (gaming industry). These partnerships span various fields such as consumer electronics, video streaming services, cloud computing, and cryptocurrency exchanges.




Who founded Theta and what are their backgrounds?


Theta was founded by Mitch Liu and Jieyi Long. Mitch Liu has a background in gaming, video and virtual reality, with experience co-founding video advertising firm Tapjoy and mobile social gaming studio Gameview Studios. Jieyi Long is Theta's CTO, with a Ph.D. in computer engineering and expertise in designing and developing 3D computer graphics engines used in gaming and virtual reality.




What are the unique selling points of Theta in the video streaming market?


Theta's unique selling points include decentralized peer-to-peer video delivery, which reduces content delivery network (CDN) costs for streamers; dual-token design, with THETA for staking and governance and TFUEL for operations and transactions; incentivization for viewers and users sharing excess bandwidth and resources; and end-to-end infrastructure for decentralized video streaming, providing higher quality, smoother video streaming, and a broader reach.




How does Theta Network incentivize users to participate in the ecosystem?


Theta Network incentivizes users by rewarding them with Theta tokens for sharing their excess bandwidth and computing resources on a peer-to-peer basis. Users who contribute to the network as relayers or validators earn rewards, which motivates them to continue participating and supporting the network's infrastructure.




What are the key components of the Theta Network and how do they interoperate?


The Theta Network consists of several key components that work together to optimize video streaming and content delivery. These include the Enterprise Validator Nodes (EVNs), which are run by trusted entities that propose and finalize blocks; Guardian Nodes, which finalize blocks and act as a check on Validator Nodes; Edge Nodes, which deliver streams and earn token rewards; the Theta protocol itself, built for decentralized video streaming; and a dual token system, with the Theta Token (THETA) for governance, and Theta Fuel (TFUEL) for operations and transactions. Together, these elements create an ecosystem that incentivizes sharing of bandwidth, enhances video streaming quality, and provides a decentralized infrastructure for content distribution.




What is the total supply of THETA and TFUEL tokens, and what are they used for?


The total supply of THETA is capped at 1 billion tokens, and TFUEL has a supply of 5 billion tokens at genesis with an annual inflation rate. THETA is used for staking as a validator or guardian node, securing the network, and for governance, allowing holders to vote on changes to the protocol. TFUEL is the operational token of the Theta protocol, used for executing smart contracts, paying for transaction fees, and incentivizing sharing of video content bandwidth.




How does Theta ensure the security of its blockchain network?


Theta ensures the security of its blockchain network through a multi-level Byzantine Fault Tolerance (BFT) consensus mechanism, which is a modified version of the Proof of Stake (PoS) model. Theta's network is protected by Guardian nodes that work in conjunction with Validator nodes to finalize blocks in the chain. Guardian nodes ensure the integrity of the ledger while the Validator nodes produce blocks. This consensus model allows for high transaction throughput while preventing a single point of failure, securing the network against double-spending attacks and other malicious activities. Additionally, the economic design and token staking requirements of Theta provide further incentives for node operators to act in the network's best interest.




What are the different types of nodes in the Theta Network and what functions do they serve?


The Theta Network comprises two primary types of nodes: Guardian Nodes and Edge Nodes. Guardian Nodes contribute to block production, finalizing blocks in the chain and participating in the consensus protocol, enhancing the security and stability of the network. Edge Nodes, on the other hand, serve as relay points for video streams, storing and relaying content to viewers, and thus facilitating the decentralized delivery of video content. Both types of nodes can earn rewards, with Guardian Nodes earning Theta Fuel (TFUEL) for staking and securing the network, while Edge Nodes earn TFUEL for sharing video streams and computational resources.