Theta Fuel (TFUEL) - one of two native tokens on the Theta blockchain. TFUEL should not be confused with Theta Token (THETA), which is the Theta blockchain governance token, backed by thousands of community-driven Guardian nodes and its Enterprise validators, including Google, Binance, Blockchain ventures, Gumi and Samsung.
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Description of Theta Fuel (TFUEL)
TFUEL is the second token on the Theta blockchain that serves as a utility token in decentralized video and data delivery, it also acts as a gas token. It is used to power all operations on the Theta blockchain, such as payments for video stream sharing, deployment and interaction with smart contracts, as well as fees, associated with NTF transactions and DeFi applications.
In addition, the token is also used to incentivize users in the ecosystem as well as bandwidth resources as Edge Caching nodes for video streams and other data. Theta Fuel, as well as the entire Theta ecosystem, was co-founded by Mitch Liu and Zei Long in 2017. Liu has a long history in the gaming, video and virtual reality industries and THETA.tv, whose DApp was the first to be built on the Theta protocol.
Platform feature
Theta's primary use case - to decentralize video streaming, data delivery and computing, making it more efficient, cost-effective and fair for industry participants.
Advantages of cryptocurrency:
| 1 | The network runs on its own blockchain with two native tokens, known as THETA and TFUEL, powering the internal economy. |
| 2 | Theta's appeal is threefold: viewers are rewarded with quality service, content creators increase their revenue and resellers save money on building infrastructure and increase ad revenue. |
Users have an incentive to both watch online content and share online resources. The rewards come in the form of TFUEL tokens. The platform is open source. Token holders are given governance powers, as is the case in many PoS-based blockchain ecosystems. Theta caters to developers, looking to run decentralized applications such as DeFi and NFT on its EVM-compatible smart contract platform.
Buying and selling coins
Both coins are used as the main tools for interacting with the Theta blockchain, but they perform different functions. There are currently 5 billion TFUEL coins in circulation, growing every year. Theta tokens are fixed and at their maximum supply, meaning there are 1 billion coins in circulation that will never increase.
The best cryptocurrency exchanges to trade Theta Fuel shares currently are:
- Binance;
- Mandala Exchange;
- Upbit;
- Gate.io;
- Crypto.com Exchange.
Theta uses a financial incentive scheme to ensure user participation in governance activities and hence its network is protected by its own users.