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Theta Fuel (TFUEL) is a cryptocurrency made by Mitch Liu and Jieyi Long in 2019. It is the second token (gas token) of the Theta protocol and is used in conjunction with the Theta (THETA) token.
While the THETA token is used for governance of the Theta protocol and staking as a Validator or Guardian node, Theta Fuel (TFUEL) is the operational token of the Theta protocol. In fact, Theta Fuel has even more utility than Theta’s primary token. TFUEL powers on-chain operations like payments to relayers for streaming video, or for deploying/interacting with smart contracts. Users earn TFUEL for relaying video streams to other users on the network and viewers can earn TFUEL as a direct reward just for participating in the network.
Theta Fuel was only launched in March 2019 when the Theta mainnet went live. During its launch, for each Theta token that was held by users/investors, they received 5 Theta Fuel to seed the ecosystem. A total of 5,000,000,000 TFUEL was distributed to Theta token holders (5 for each of the 1 billion Theta Tokens). Now, the supply is set to increase at an initial annual target rate of 5% with the new annual rates being determined at the protocol level.
A common question among the crypto community is why did Theta introduce a secondary currency (TFUEL) at all? According to the Theta team, the primary reason is to separate the staking/governance and operations/transactions usage of the token. Theta’s two token model also reportedly enhances the protocols security.
9 Dec 2021 1 minute read 0 comments Keith Thuerk
Theta now more accessible - MetaMask plug-in and Meter Passport are available for use Theta had a robust roadmap for 2021 which has driven great innovation this year. One key aspect was Inter Operability for the roadmap and below I detail out those t...
1 Dec 2021 5 minute read 2 comments Tomadachi
There has been significant progress made by the Theta Network over the last 12 months in growing their relevance to the NFT space. This is reflected in the rising prominence of Theta on NFT-related lists provided by the likes of CoinmarketCap and Coi...
27 Nov 2021 1 minute read 1 comment SweptOverNiagara
The other night I was playing Scrabble with friends and when my turn came up, I was able to lay down the letters to spell the word, 'agile'. I was really proud of myself. You have to admit, 'agile' is a big word, especially when the letters you picke...
23 Nov 2021 2 minute read 0 comments SweptOverNiagara
Theta tv is really catching on. Even FailArmy has their own streaming channel. Yes, you can earn TFuel while chilling and watching epic fail videos. One of my favorite channels is the NASA channel. As a newbie, my TFuel count is just getting started...
22 Nov 2021 3 minute read 0 comments Keith Thuerk
Theta TDROP - What is it? When does it occur? If you are new to to Theta here is a quick recap, if you are a seasoned veteran skip to the next paragraph. Theta - a platform built around peer-to-peer (P2P) bandwidth sharing for video streaming, e-gam...
3 Nov 2021 1 minute read 2 comments Taotao
I've been playing with Theta's Edge Node for a little over two weeks now (see my first blog post here) and here is how things have shaken out so far. I am in my third week, and my trusty little laptop has been running the node in the background. It h...
24 Oct 2021 1 minute read 0 comments Keith Thuerk
Theta Granted Yet Another US Patent USPO (aka US Patent Office) granted Theta US Patent #11,153,358 [Application Number 17/226,112] for Methods and systems for data caching and delivery over a decentralized edge network. Theta the Peer-to-Peer (P2P...
21 Oct 2021 3 minute read 6 comments Austras
With internet access spreading through out the world, companies struggle to deliver high-quality service to all corners of the world. Facebook is even building a subsea cable connecting southern Europe, south-west Asia & northern Africa to help deliv...
3 Oct 2021 1 minute read 0 comments Keith Thuerk
Theta - Released Theta Video API Theta continues to bring revolutionary tech advances in 2021, late last week Theta Released their Theta Video API. Theta calls released this API as part of their Web 3.0 Vision! What is the Theta Video API? It is a...
29 Sep 2021 7 minute read 2 comments Carypto
If you are like me, you like crypto. You are fascinated by the idea that there is digital machinery that can churn out digital coins and tokens to actually buy stuff. How cool would it be to be able to do that as well, at home? If you are also like...
