Theta Fuel (TFUEL) operates as the main utility and rewards token for the Theta decentralized video streaming protocol. The network seeks to provide a more efficient alternative to the current video streaming options by combining blockchain technology, purpose-built cryptocurrencies, a custom blockchain, and community governance. Here’s how Theta Fuel improves usability and streamlines video sharing.
Video streaming is one of the fastest-growing technologies in the world. The total amount of video streaming continues to accelerate globally. This growth has been fueled by a combination of features including improved internet reach and data transmission rates. Despite these areas of growth, the centralized video streaming market has some inherent shortcomings.
What Problems Does Theta Fuel (TFUEL) Attempt to Fix?
One of the main problems that Theta seeks to help is centralization. The video streaming market is run by a select few firms. These large tech agencies can charge raised rates and provide subpar service because there is no real competition. Theta leverages blockchain technology to improve the streaming scenario and give regular users a better option to consider.
Censorship
Censorship is a major problem for content creators in 2022. The centralized nature of the market has made it easy for large tech firms to control the narrative. History has shown that this control has already been used to suppress important information from the public’s knowledge. Theta content creators gain the protection of the first amendment. Theta provides censorship-resistant video hosting to a global audience.
Bottlenecking
One of the biggest issues that Theta tackles is bottlenecking. Bottlenecking is a term that refers to the degradation of signal from streaming points as more users join. Additionally, these issues are worse the further from the transmission point. Theta’s technical structure prevents last mile issues. Theta improves data transmission as more people join the network. This structure makes it ideal for today’s heavy streaming environment.
Benefits of Theta Fuel (TFUEL)
Theta Fuel brings a lot of benefits to the market. For one, the protocol provides higher streaming rates than the competition. The use of network nodes to host data ensures that your streaming information comes from the closest and most efficient point on the network.
Additionally, Theta Fuel is open source so users can leverage its features and services to improve their own applications. Open-source protocols are safer than alternatives because you can vet the coding and see any background processes. This structure makes it easy and secure for anyone to access global infrastructure for video content and data delivery.
Interoperability
One of the main concerns for developers was to ensure that Theta had full interoperability. The network supports full Dapp features and provides developers with tools to improve their creations. Developers can leverage the Theta toolset to improve usability.
How Does Theta Fuel (TFUEL) Work
Theta combines a host of proprietary technologies to provide the market with a viable alternative that is both cheaper to use and more secure. Theta was built on the Ethereum blockchain which improves security for users. All network nodes integrate commercial-grade encryption to keep data protected.
Theta.tv
Theta.tv is the network’s main streaming service. This feature empowers users to ensure returns for supporting the network. The dashboard makes it easy for users to upload or watch video streams. Notably, Theta.tv has already secured some major partnerships. These partnerships now include the Smartphone producer Samsung and their new Galaxy phone series. Theta.tv will come standard on these devices in the future.
Theta blockchain
The Theta blockchain was built specifically to support the growing video streaming market. Theta is the first end-to-end infrastructure for decentralized video streaming to gain popularity in the market. The blockchain enables network nodes to host data as peering caches. In return for their efforts, nodes receive TFUEL tokens for their efforts.
TFUEL
TFUEL is the main utility token for the Theta blockchain. TFUEL plays a critical role in empowering users to interact with THETA features. Users receive TFUEL when they provide computing power to the network. They can also trade TFUEL on popular exchanges. TFUEL has no total supply and is issued when rewards are paid out.
Theta
THETA is the main governance token of the network. Users can stake THETA and receive rewards. THETA holders gain the ability to put forth changes via proposals. The community votes on these proposals and those that are accepted get funding from the community vault. Notably, there are 1 billion Theta tokens set for issuance.
Consensus
Theta uses a Proof-of-Stake consensus mechanism to improve scalability. PoS networks are more efficient and scalable than Proof-of-Work (PoW) networks like Bitcoin. The system leverages a select group of nodes called the validator committee. This group of nodes is responsible for the first set of transaction approvals. Then a larger group of nodes called the guardian pool, finalizes the transaction.
Bottom Line
The constant growth of the video streaming market has led to protocols like Theta becoming a smart option for users. These networks provide censorship-resistant alternatives to the market. Theta offers users lower fees and high performance compared to the competition. As such, you can expect to see a lot more videos hosted on the Theta Fuel protocol in the coming weeks.
