Theta is an intelligent platform that has a big impact on solving the issues the blockchain network often faces. The Theta was created in a way that makes network-wide bandwidth sharing hassle-free. Users have the option to share extra bandwidth and tokens in exchange for rewards in the form of tokens using this function. The main reason for creating the Theta platform was to use blockchain technology as the appropriate solution for the contemporary issues that video streaming companies are currently facing.

Any cryptocurrency exchange that supports the token can be used to buy theta. But before you plan to invest in Theta, let us get to know it better.

History of the Theta Blockchain

Theta entered the cryptocurrency market in 2018, immediately following a private token sale of around $20 million the year before. The THETA project’s creators initially decided to launch it on the Ethereum platform, and ever since, they have been concentrating on building their own native blockchain. THETA increases and improves the security offered by Ethereum and ties it with different technologies that would leverage the quality of the stream delivery manifold.

How does theta work?

The native token of the Theta network called THETA is the governance token. These coins have the power to protect the blockchain and use it to give their users a wide range of functionality. Because theta is an ERC-20 token, consumers have the option of streamlining their cryptocurrency experience by using the Ethereum exchange.

The interoperability and expandability of the Theta platform are two more noteworthy advantages. DApps, or vertical decentralized apps, are supported by THETA. These Dapps take advantage of the market’s strong technical toolkit to flourish at the top.

Advantages and disadvantages of using Theta

Here are some important pros and cons of the THETA cryptocurrency and the THETA platform.

Advantages

  • It also allows for decentralized streaming that leverages speed and efficiency.
  • The Theta platform has got the power to cut down the cost of streaming by 80%.
  • The open-source protocol facilitates Dapp development.
  • The industry partnerships are expected to aid innovation and support.

Disadvantages

  • The theta coin distribution is limited and more centralized. This could harm its value.
  • The token has low liquidity when compared to other popular cryptocurrencies.
  • There is an increased chance for the competitors to merge.

THETA blockchain

The only complete infrastructure for decentralized video streaming and delivery that exists now is the Theta blockchain. THETA’s early success is attributed to its blockchain technology, which provides the most functionality possible. THETA makes sure that the cost of content distribution (CDN) is significantly lower than with video delivery platforms.

Theta tokens

As previously mentioned, theta coins are the theta platform’s native and governance tokens. To construct a blockchain or participate in the protocol’s governance, these currencies must be staked as validators or guardians. Approximately 1,000,000,000 theta tokens are now in circulation in the cryptocurrency market.

TFUEL

In the Theta ecosystem, the TFUEL tokens are the ones that serve as utility tokens. The network uses these tokens for a variety of things. The main benefit of these tokens is that they motivate users to share their bandwidth resources and act as video stream relay nodes.

How do you buy Theta?

The THETA token might be a bit hard to find as it is not available on every platform, so you will have to conduct in-depth research on it. This is a step-by-step guide to purchasing the Theta.

  • Choose an exchange and fund your account

Once you are done with creating an account, you need to fund your account with the help of a wire transfer from your bank. Check with the bank to know whether any restriction fees are applied.

  • Create a digital wallet to store your tokens

Digital wallets are as important as physical wallets that you use to store fiat currency. For effective performance, you need to find the wallets that suit your needs and are compatible with the token.

Final words

Theta is an open-source decentralized blockchain that has proven to be the ultimate solution for the troubles faced by live streaming and video distribution. Theta users consider it a passive source of income as it can be staked to earn crypto rewards.

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