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Theta (THETA) is the native token of the Theta Network, a blockchain-enabled content streaming platform underpinning a number of streaming and live streaming applications. It has attracted an impressive investor roster and global user base.

The supply of THETA is fixed at 1 billion. Users stake THETA to validate transactions on the Theta Network and are rewarded with new theta fuel tokens (TFUEL). Meanwhile, TFUEL is itself staked on the Theta Edge Network which allows users to upload and share video and livestream content without the involvement of any centralized server. The reward for this staking is also denominated in TFUEL.

How THETA Works

THETA’s creators at Theta Labs say they have developed a new proof-of-stake (PoS) consensus mechanism.

They describe their system as “an aggregated signature gossip protocol.” New blocks are proposed and finalized by a small number of “validator nodes” run by corporate partners, such as Google, Samsung, Binance and others. THETA’s creators say these nodes provide security equivalent to that of well-known PoS networks like Solana. Another layer of security comes from a second layer of nodes called “guardian nodes,” which seal blocks. There are thousands of these nodes, operated by THETA community members.

The creators say the network can process 1,000 transactions per second with “virtually no carbon footprint.” That compares with single-digit transactions per second for the Bitcoin network, for example. Using a smaller number of nodes is a well-known technique to allow faster processing at the cost of greater centralization. In other words, they disproportionately empower a smaller number of participants.

Theta Network is compatible with Ethereum, meaning that decentralized applications (dapps) on the latter network can be operated on Theta with “no or minor modification,” according to the company. For instance, the wallet service Metamask is usable on Theta.

Theta Token Minter

The Theta Token Minter is Theta’s specialized token-minting system that allows any user to create new TNT-20 tokens on the Theta blockchain with little to no smart contract coding experience. Through this mechanism, users can simply input the intended token name, ticker symbol, and supply parameters of their new token and the Token Minter will automatically mint the new tokens. These tokens can be created without technical expertise and can be configured to have either a permanently fixed or variable supply — characteristics that foster the creation of a wide range of applications and assets on the Theta blockchain.

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