Coin Market Cap - Theta [THETA] & Theta Fuel [TFUEL] Price & Analysis, June 8, 2021 [CoinMarketCap]
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Coin Market Cap - Theta [THETA] & Theta Fuel [TFUEL] Price & Analysis on June 8, 2021 [CoinMarketCap]. Despite market values dropping by tens of billions of dollars, Theta Fuel (TFUEL) is up by 20% today.
What is the reason? Consequently, the price has been rising in anticipation of the mainnet going live on 30 June.
With Theta tokens, blockchain technology is used to stream video content through a blockchain protocol which should improve both the delivery and quality of content.
As BitTorrent users will tell you, it doesn't use a unique approach, but it is clever nonetheless. The key feature of this technology is that network users can exchange computing resources and bandwidth that is unused or redundant.
Another fundamental aspect of the network is that it allows for peer-to-peer downloading, meaning that the content can be obtained not only from the original retailer but also from other peers.
Theta is not BitTorrent, by contrast, which has become synonymous with piracy, rather it is focused on lowering content delivery costs through more efficient distribution.
In addition, Theta is completely based on the blockchain, unlike BitTorrent. The BTT token was created out of BitTorrent in 2019, and was then used to effectively incentivize activities on the Tron network. BTT token, however, has nothing to do with video delivery using a distributed ledger technology.
Nevertheless, our excitement is centered around the Gas token and its application on the network. At $0.568, Theta Fuel (TFUEL) is up an astounding 20% in less than a week.
Similar to Gas, Theta Fuel is used to pay for on-chain computation in smart contracts and to deploy them, as well as to compensate the relayers of streamed video content on the Theta network.
After the Creative Artists Agency (CAA) became the operator of one of Theta's validators, market participants started paying attention to the network.
This makes Theta one of the fastest and cheapest online networks, as it uses a delegated Proof-of-Stake (dPoS) protocol.
A study by Binance Research predicted the on-chain transaction rates of the Theta network to be between 500 and 10,000 per second (tps).
Furthermore, Theta has community-run 'Guardian' nodes that complement its validator nodes. These nodes received praise from Theta's developers a couple of days ago, when they released 1-click delegated staking through the wallet.
In addition to the Theta token, we consider Theta Fuel a potential buy. If the market is down, you might want to dollar-cost average in by buying some Theta a day, or twice a week. If the market goes up (after 30 June), you might have to buy Theta all at once depending on what traders will do.
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