Cryptography opens up huge opportunities for optimizing any sphere of human activity. This is one of the reasons for the huge variety of cryptocurrency projects. The Theta platform is designed to host, promote and distribute video content.
What is Theta?
The Theta decentralized platform is built on the blockchain and its functioning is based on smart contracts. The idea behind Theta is that the computing power for viewing and other actions with video content is provided by the users themselves.
How it works
Once a video is posted on a platform connected to Theta, it becomes available to all network users.
When watching a video on a user device, the unused computing power of this device is provided to other network members.
Users watch the video on their device and at the same time share some of their device’s processing power with other network members.
The network provides the ability to configure Edge Nodes, nodes for redirecting video content. To do this, you need to install the appropriate software on your PC, transfer video content at the expense of unused computer capacities and receive remuneration. At the same time, Edge Nodes owners do not need to watch the video. Also check this link to learn about How to setup THETA edge Node.
The platform is not going to be limited to providing video material. As the project develops, it is planned to launch educational projects, organize live broadcasts and conference calls.
Using the Theta network, all participants benefit:
- Video platforms will be able not only to reduce the cost of purchasing equipment, but also to monetize their activities more efficiently.
- Users, in addition to the pleasure of watching videos, are rewarded for providing computing power to other network members.
A decentralized network for video content solves several problems at once. First of all, content makers get more creative freedom compared to popular centralized sites. The popularity of content and income from its placement on Theta depend solely on the quality of the content.
It is important that the resource intensity of video materials is increasing. The introduction of new technologies inevitably entails the need to increase the capacity of servers. For centralized services, this means new capital investments. The decentralized network will cope with this problem at the expense of the resources of the participants themselves.
Theta platform tokenomics
There are two types of tokens in the network for different purposes. The THETA token of the same name is a governance token and serves to confirm transactions.
The TFUEL token serves as a settlement tool. The coin is used to pay fees, remunerate Edge Nods, create smart contracts, watch video content, and stake THETA.
Where to get Theta tokens
To run a security node or a validator node, you will need start-up investments. To run a security node, you need 1000 THETA. You can become a validator only if you have 10 million THETA and if Theta Labs chooses you.
You can earn TFUEL tokens by watching or posting videos on the platform, or by running an Edge Node on your device.
In the long run, the coin represents a potentially profitable investment. Now the Theta TFUEL price is about $0.2 and the coin can be bought on several major exchanges: Binance, Gate.io, Wazir.X, Tokocrypto.
Is Theta TFUEL Legal?
The limited use of Theta TFUEL outside the native platform is due to the lack of publicity of the project, but not to the legal status of the coin. For example, the Mongolian tugrik is a sovereign national currency and its legality is beyond doubt. However, in order to buy something outside of Mongolia, you need to exchange tugriks for another currency.
You can do the same with TFUEL by exchanging it for more popular cryptocurrencies on LetsExchange.