Theta promotes itself as a network powered by you. But what does that really mean?
Theta a Next Generation Video delivery network that leverages the power of peer-peer network bandwidth sharing. You participate and help the network scale and security by sharing a % of your Internet bandwidth.
What makes Theta Network different? The Speed of network is 1000 Transactions per minute vs Bitcoin which permits 7 per minute and versus Ethereum which allows 50 per Minute. That is impressive compared to other offerings.
Let’s dive into what makes up Theta.
Constructs of Theta
Theta Token Total tokens has Max 1 Billion tokens
Total TFUEL = Max 5B tokens, initial release was 5:1 to Theta, TFuel has 5B tokens, w/ just under 3B in circulation & inflation rate increase of 5% YoY
TFuel - a few ways to earn - Sliver and Mining
Wallet – Theta has created a simple and easy to use Web or Mobile wallet both of which utilize SHA 256-bit encryption.
Validator Node – Global Big Guys with lots of bandwidth and industry recognition in/around innovation, currently there are only 13 globally. Theta will have a max of 10,000 Validator nodes. I will name a few to give you an idea of who these players are and their size
- Binance, no need to say anything else
- Google/YouTube - May '20 - Network validator & 2.0 Launch
- Gumi Cryptos bringing access to Japanese markets
- MGM Studios to bring Hollywood classics to Theta.tv
- Samsung – perhaps adding Theta nodding to their devices (think TV & Mobile phones)
Can you envision who else might like to play in this space? I can but do not dare speculate.
Guardian Node - Network protector help validate
What does it take to run a Guardian Node? Requires a minimum of 10,000 THETA token and that you stake them on the Theta network via a Guardian Node. What are the requirements to run a Guardian Node ?
Internet speed: 5Mbps+ up and down, Compute CPU: 4 cores or more, Memory: 8GB or more
MacOS, Windows or Linux operating systems
I learned the hard way ARM Architecture is currently not supported even with Raspberry Pi V4 even w/ 8GB cache
Theta Edge Node – caching node, can run this on Mac, Windows or Linux and earn TFuel too (paid out monthly to your Wallet
My experience, I ran my own Guardian node for a full month. I have a 50MB link typically utilized between 161-300Mbps. I did not see a performance hit during working hours or streaming at night. I will share with you that I did have to reboot my home router every 3-5 days due to keep the performance up. Which mean I had to restart by Guardian node too, so this is not a set it and forget it scenario