What is Theta Fuel (TFUEL)?

 What is Theta Fuel (TFUEL)?

Theta Fuel (TFUEL)

What is Theta Fuel (TFUEL)?

Theta Fuel (TFUEL) is one of the two original tokens on the Theta blockchain.  TFUEL should not be mistaken for Theta Token (THETA), which is the Theta blockchain's governance token backed by the Guardian node that runs it. Supported by thousands of community and enterprise auditors including Google, Binance, Blockchain Ventures, Gumi, and Samsung.

TFUEL is the second token in Theta blockchain that acts as a utility token in decentralized video and data delivery. It also acts as a gas  token , meaning it is used to drive all operations on the Theta blockchain, such as payment to broadcasters for sharing video streams. for deploying and interacting with smart contracts and is a fee associated with NTF transactions and DeFi applications.

It is also used to incentivize users in ecosystems that share their redundant computing power as an Edge Compute node, as well as bandwidth resources as an Edge Caching node for streaming video and other data.

Who was the founder of Theta Fuel?

Theta Fuel and its extensions, the Theta Ecosystem, were all co-founded by Mitch Liu and Jieyi Long in 2017. Liu has a long history in the gaming, video and virtual reality industries, co-founder of video advertising company Tapjoy, mobile social, gaming start-up and video ad company Tapjoy. Gameview Studios and THETA.tv, the first live streaming platform DApp built on the Theta protocol.

Jieyi Long is Theta's co-founder and second CTO, based on similar years of experience in automation design, VR gaming, and large-scale distributed systems. He has written several peer-reviewed academic papers and holds various patents. in video streaming, blockchain, and virtual reality

Theta now has a modest team. And the company's official website lists investors in strategic organizations such as Samsung NEXT, Sony Innovation Fund, media investor BDMI Bertelsmann Digital Media Investments, CAA Creative Artists Agency, and traditional Silicon Valley VCs such as DCM, Sierra Ventures and others. VR Fund .

What makes Theta Fuel unique?

Theta's main use cases are decentralized video streaming, data transmission, and edge processing. Make it more efficient, cost effective and fair for industry participants. The network runs on a native blockchain. There are two traditional tokens called Theta (THETA) and Theta Fuel (TFUEL), which drive the internal economy.

The Theta's appeal is triple: viewers are rewarded with better quality streaming services. Content creators improve revenue and middlemen — video platforms — save money on building infrastructure. and add advertising Subscription income Users are motivated to view network content and share network resources. Because the reward comes in the form of TFEL tokens.

This platform is open source. And token holders are given the same regulatory powers as the blockchain ecosystem. proof-of-stake (PoS) of  the video data, and then processed Theta is also available to developers who want to launch an application distributed (DApps) as DeFi and NFT platform, the Intelligent Access. Compatible with full-featured EVMs

How many Theta Fuel (TFUEL) coins are in circulation?

As mentioned earlier There are two coins in Theta ecosystem;  THETA and TFEL  . Both coins are used as the primary tool to interact with Theta blockchain, but perform different functions.

Currently, there are 5,232,675,200 TFUEL coins in circulation, which is increasing every year as new TFUELs are created for staking rewards.  Theta Tokens are now fixed and supply peaks. This means there is a turnover. 1,000,000,000 Coins that will never increase

Theta works on an algorithm. proof-of-stake This means that bets can be placed. As the amount of THETA circulating is the highest ever supply, TFUEL is rewarded for staking on the network. to qualify for staking You must wager at least 1000 THETA to the Guardian Node or run your own Guardian Node.

How secure is Theta network?

Theta Blockchain relies on a consensus algorithm, however, it has added a multi-level Byzantine Fault Tolerance (  BFT  )  consensus mechanism on the blockchain  to achieve better security with higher transaction volumes.

At the time of Theta Mainnet's March 2019 launch, Theta launched Guardian Nodes.  With Guardian Node, no entity controls most of the THETA tokens that are wagered at any one time. This also allows the network to achieve transaction throughput of up to 1000+ TPS.

Theta uses a financial incentive plan to ensure that users participate in regulatory activities. And hence the network is secured by its own users.

Where can you buy Theta Fuel (TFUEL)?

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