Theta Fuel (TFUEL) is a cryptocurrency created from the Theta Token network (THETA) after the successful launch of the mainnet. TFUEL coin will work in tandem with THETA on Theta’s protocol. Theta Fuel energizes the network by encouraging users to share content with each other and TFUEL will be burned when users deploy or interact with smart contracts.
At the time of the mainnet, Theta Token holders will receive a free TFUEL at 1 THETA = 5 TFUEL; there are many major cryptocurrency exchanges that support Theta’s 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 store. In fact, the founding team Theta Labs also runs Sliver.TV and hopes to take the lead in the Livestream industry. THETA and TFUEL are two proprietary cryptocurrency tokens used by the network.
How was TFUEL Coin created?
Theta TFUEL is created from Theta Token after Mainet on March 15, 2019 and TFUEL Coin will run in parallel with Theta Token based on THETA’s protocol. The supply of TFUEL Coin will increase with an initial annual target rate of 5%. The new delivery rate will be determined at the protocol level and can be adjusted as needed by protocol consensus to provide compliance as required by the platforms on the Theta Network. Each network participant running the Validator node, or Guardian, will earn a share of that new TFUEL supply, proportional to the amount of THETA they are ordering.
Team
Mitch Liu
- Cofounder / CEO
- Cofounder THETA.tv
- Cofounder Gameview Studios
- Cofounder Tapjoy
- BS in Computer Science & Engineering from MIT
- MBA from Stanford Graduate School of Business
Jieyi Long
- Cofounder / CTO
- Cofounder THETA.tvBS in Microelectronics, Peking University
- PhD in Computer Engineering, Northwestern University
- Developed many patented technologies including VR streaming as well as instant playback for video games.
Ryan Nichols
- Chief Product Officer
- Chief Product Officer at THETA.tv
- Designed and launched the virtual currency system for multiple platforms.
- Director at Tencent for the Wechat app
- Cofounder of a live video streaming app for foodies
What is the difference between Theta Token and Theta Fuel?
Theta Token (THETA): It is the governance token of the Theta protocol. THETA is used to act as the Validator node, or Guardian, to help produce and administer the Theta Network protocol. By placing and running a node, users will earn a corresponding amount of newly created TFUEL. THETA’s supply is fixed at 1 billion and will never increase.
Theta Fuel (TFUEL): It is the active token of the Theta protocol. TFUEL supports on-chain activities such as payments to forwarders for sharing video streams or for deploying or interacting with smart contracts. Users earn TFUEL for every video stream they forward to other users on the network. You can understand Theta Fuel as a charge on the protocol.
Why was TFUEL Coin launched?
There are 2 reasons for the launch of TFUEL Coin as follows:
First, this allows the utility and purpose of each token to be separated. THETA is strictly used to place bets and protect the network, while TFUEL is used to power micro and network operations. This is necessary because betting already reduces the supply of circulation. However, video transitions and smart contracts will require a highly liquid token that can facilitate millions of daily transactions.
Second, two tokens are needed to solve the administrative issues arising from using the same token to place bets and operate. Because the tokens used for operations must be liquid, some sharks will embrace large numbers of tokens and often manipulate the market. If the same token is also used to place a bet, they could potentially threaten the Theta Network’s security by quietly buying large amounts of bet tokens. By separating the two functions (placing bets and operations) into different tokens, that risk is greatly reduced.
Conclusion
Theta is a very good platform and the Theta project is created for practical use and it is on the rise. However, investing in cryptocurrencies is always risky, so you should decide for yourself whether or not to invest in TFUEL coins.
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