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Theta Network
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30-12-2020 4:02pm#1Note: Not shilling, just information, DYOR. Thread dedicated to Theta.
What is Theta:Theta Network is the leading video delivery network powered by blockchain technology.
Theta allows users to watch video content and earn token rewards for relaying video. Now users can relay content without watching video using edge nodes. Rewards are paid out in Tfuel.
Theta’s unique multi-BFT consensus network consists of:-
Enterprise Validator Nodes
- Community-run Guardian Nodes. Stake 1k min.
- Community-run Edge Nodes. Free to use for anyone, no stake required.
Guardian Nodes:Validator Nodes propose and produce new blocks in the chain. Run by Google, Samsung, Binance, Theta Labs etc
Guardian Nodes seal blocks and act as a check on malicious non-functional Validator Nodes.
To run a GN first you need to download the Theta Web Wallet. Also available on Mobile.
Go to an exchange and buy Theta and transfer to wallet. The public address is same for Theta and Tfuel.
The minimum stake for GN has been reduced from 10k to 1k Theta earlier this month. Note: If you do not want pc running 24/7 you can delegate your stake to GPOOL. No fees currently.
Click here to view earnings from staking
Edge Nodes:This is the most popular node used by the community. The growth of edge nodes is insane, was only 1500 nodes late October to now 5000.
It is free to use and download by anyone. No stake required. Just a pc and your theta wallet setup.
The tfuel earnings you make each month are transferred to your public address.
The edge node originally consisted of the Edge Cache which you relay video bandwidth to other users in your area. This has been okay but not a lot of users in Ireland use Theta.TV.
A new addition has been sharing your PC power in conjunction with folding at home.
This is a distributed computing project aimed to help scientists develop new therapeutics for a variety of diseases by the means of simulating protein dynamics. This includes the process of protein folding and the movements of proteins, and is reliant on simulations run on volunteers' personal computers.
This is my edge node at work currently:
Theta TVThe Theta.TV platform is really a test bed to demonstrate the capabilities of it's CDN. It's the network where the potential is.
However while the app is not the best, the web player is pretty good. Video on demand has been added recently which has been a game changer.
Note: you can earn tfuel here watching streams but only donate it to other content providers or spend it in the shop. You cannot move it off externally to another wallet so most folks here will only be interested in the GN and EN
Hopefully that answers some questions raised in the main crypto thread.3
Comments
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Edge node continuedYou can switch this on and off as your please. The PC does not need to be running 24/7.
This will be very flexible and useful to grow the community as nodes normally tend to need to be on all the time.
The folding at home power settings can be changed from low to high. Medium and High have the PC fans spinning depending on your GPU.
To access this dashboard, just type folding at home into google or click on the edge node icon in the icontray.
The team is currently ranked 299 in folding at home and climbing. Big companies in top 100 Intel, Nvidia etc.
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Smart ContractsTheta announced Smart contract capability to Mainnet 2.0 earlier this month.
There is now a token minter and some of the community are going nuts making TNT (Theta Network Tokens) this week. A bit of fun, BDOG's token below.
NFT's are also coming onboard.
Practically the same VM as eth's. It might be a baby eth at best IMO. 1000 tps.
Mainnet 3.0 and other news:Big news coming again in Q2 2021 with the release of Mainnet 3.0.
Two main protocols introduced:
1. Elite Node: Upgrade of the edge node to stake tfuel
2. Tfuel burning to slow down or even reduce inflation of the token
Potential for DEX support also.
Price:Finally some price analysis. Theta had massive growth earlier this summer due to the Google Cloud announcement as a validator node.
There was another uptrend end of this year with news of 1k staking on guardian node and smart contracts capability.
Currently ranked 19th in Market Cap, I think this video contributed to the price pump.
Would probably be worth waiting for sub dollar again to get some or just dca.
That's enough information for now!
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We're all in this psy-op together.🤨
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https://www.youtube.com/watch?v=TrkcJ5bQx2s
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