Theta Fuel (TFUEL) is a cryptocurrency generated from Theta Token (THETA) network after a successful mainnet launch. TFUEL will work in tandem with THETA on Theta’s protocol. TFUEL powers the network by incentivizing users to share content with each other, and TFUEL is burned when users deploy or interact with smart contracts.
After the mainnet is born, Theta Token holders will receive free TFUEL for 1 THETA = 5 TFUEL; There are many major crypto exchanges that support Theta mainnet such as Binance, Huobi Global.
TFUEL Coin is a Blockchain-based platform; this is a platform that allows content distribution using decentralized technology. Currently, the Theta TFUEL platform supports Samsung VR, Sliver.TV and MBN – Korea’s largest business news archive. In fact, the founding team of Theta Labs also runs Sliver.TV and hopes to lead the way in the Livestream industry. THETA and TFUEL are two proprietary crypto tokens used by the network.
How is TFUEL created?
Theta TFUEL is generated from Theta Token after the mainnet goes live on March 15, 2019 and TFUEL Coin will run in parallel with Theta Token based on THETA protocol. The supply of TFUEL Coin will increase at the rate of the initial annual target of 5%. The new delivery rate will be determined at the protocol level and can be adjusted by protocol consensus as needed, to provide the compliance required by platforms on Theta Network. Each network participant running a validator node, or layer of protection, will earn a share of that new supply of TFUEL, proportional to the amount of THETA they are ordering.
- Co-Founder / CEO
- THETA.tv . Co-Founder
- Co-Founder of Gameview Studios
- Co-Founder of Tapjoy
- Bachelor of Computer Science & Engineering from MIT
- Master of Business Administration from Stanford Business School
- Co-Founder / CTO
- Co-Founder of THETA.tvBS in Microelectronics, Peking University
- PhD in Computer Engineering, Northwestern University
- Developed multiple patented technologies including VR streaming as well as instant playback for video games.
- Production manager
- Production Manager at THETA.tv
- Design and launch a virtual currency system for multiple platforms.
- Director at Tencent for Wechat
- Co-founder of a gourmet live video streaming app
The difference between Theta What are Tokens and Theta Fuel?
Theta token (THETA): This is the governance token of the Theta protocol. THETA is used to act as a validator node, or layer of protection, to help produce and administer the Theta Network protocol. By placing and running a node, users will earn a new amount of TFUEL created. The supply of THETA is fixed at 1 billion and will never increase.
Theta Fuel (TFUEL): This is a working token of the Theta protocol. TFUEL supports on-chain operations such as paying forwarders for sharing video streams or for deploying or interacting with smart contracts. Users earn TFUEL for each video stream they forward to other users on the network. You can think of Theta Fuel as a fee on top of the protocol.
The reason for launching TFUEL
There are 2 reasons for launching TFUEL Coin:
First, this allows for the separation of the benefits and purposes of each token. THETA is strictly used for staking and securing the network, while TFUEL is used to power micro and network operations. This is necessary because betting has reduced the circulating supply. However, video transitions and smart contracts will require highly liquid tokens that could facilitate millions of daily transactions.
Second, two tokens are required to solve the governance issues that arise from using the same token for staking and operations. Since the tokens used for the operations must be liquid, some greedy person will grab the large number of tokens and will often manipulate the market. If the same tokens are also used for staking, they have the potential to threaten the security of Theta Network, by quietly purchasing large quantities of staking tokens. Separating the two functions (staking and activity) into different tokens reduces that risk significantly.
Theta is a very good platform and the Theta project is made for real use and this is growing. However, investing in cryptocurrencies is always risky, so you should decide for yourself whether to invest in TFUEL coin or not.
Dislaimer: This information is provided as a personal blog, not general information or investment advice. We are not responsible for your investment decisions.
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