Theta Network

Irish_rat · 30-12-2020 4:02pm #1

Note: 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 TV

The 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.

Irish_rat · 30-12-2020 4:19pm

Edge node continued

You 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.

Irish_rat · 30-12-2020 10:23pm

Smart Contracts

Theta 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.

https://www.youtube.com/watch?v=TrkcJ5bQx2s

That's enough information for now!

KilOit · 30-12-2020 10:26pm

need your head examined to buy into that pump

Lex Luthor · 30-12-2020 11:26pm

KilOit wrote: »

need your head examined to buy into that pump

who buys into a pump anyway?

Irish_rat · 01-01-2021 12:53pm

Pre-elite edge node launched meaning you can stake tfuel.

Min 1000, max 100000

Price of tfuel currently 3 cents.

el diablo · 02-01-2021 4:28am

Lex Luthor wrote: »

who buys into a pump anyway?

Why was Lex banned?

Irish_rat · 31-01-2021 11:50am

Just an update:

Edge Nodes coming very close to 10k. There is a big community growing.

Folding at home weekly stats for January. Ranked 23 among the likes of Intel and Nvidia.

Lex Luthor · 31-01-2021 3:52pm

el diablo wrote: »

Why was Lex banned?

I'm back, what did I miss?

Dante7 · 02-02-2021 4:36am

This explains the jump.

https://twitter.com/cryptonord1/status/1356445383640182785?s=19

Irish_rat · 02-02-2021 10:19pm

Wow that's a big announcement. I think I need to load up some more

Just hit 10k edge nodes too. I notice more and more the project is getting major attention.

It's up there now with the likes of eth, ada, dot, link as the alts to hold

Dante7 · 03-02-2021 12:48am

Grayscale filing the Trust doesn't necessarily mean that they will ever offer it as a product, they have filed a few different ones recently. But it does at least mean that they are interested and are taking it seriously. Definitely worth grabbing a bag.

Rob2D · 03-02-2021 2:19am

THETA @ 2quid is still a great buy. IF it becomes adopted in the right way, it'll be huge.

Bruno Mannheim · 05-02-2021 9:45am

Rob2D wrote: »

THETA @ 2quid is still a great buy. IF it becomes adopted in the right way, it'll be huge.

We are just about to move to the next leg up to circa $5

Lex Luthor · 08-02-2021 3:47pm

another big 24hrs for Theta

Irish_rat · 08-02-2021 7:19pm

Wish I bought more at sub 50cents!

Lex Luthor · 09-02-2021 11:33am

Irish_rat wrote: »

Wish I bought more at sub 50cents!

in 6 months you will be saying wish I bought more at $2

el diablo · 10-02-2021 3:44am

Lex Luthor wrote: »

in 6 months you will be saying wish I bought more at $2

Bix Weir on Youtube says Theta will go to $1,000-$10,000 in the coming years. Therefore having a market cap bigger than the GDP of most of the world's countries. :rolleyes:

This guy has less than zero credibility though. He gets his crypto advice from fortune tellers and webbots.

Ronan|Raven · 10-02-2021 6:47pm

Hold a few hundred of these, I wish I got in earlier

jonny_b · 12-02-2021 9:20pm

Threw a few quid on this hopefully it'll be worth something good in a few years

Lex Luthor · 13-02-2021 8:44pm

el diablo wrote: »

Bix Weir on Youtube says Theta will go to $1,000-$10,000 in the coming years. Therefore having a market cap bigger than the GDP of most of the world's countries. :rolleyes:

This guy has less than zero credibility though. He gets his crypto advice from fortune tellers and webbots.

$1000. Bonkers

Ronan|Raven wrote: »

Hold a few hundred of these, I wish I got in earlier

You are early still, has the potential to at least $20 this year minimum I'd say

jonny_b wrote: »

Threw a few quid on this hopefully it'll be worth something good in a few years

You wont have to wait that long

Anyone holding theta has to consider holding Tfuel aswell, they go hand in hand and I think Tfuel has bigger quicker gains to be had

frag420 · 13-02-2021 8:56pm

Lex Luthor wrote: »

$1000. Bonkers

You are early still, has the potential to at least $20 this year minimum I'd say

You wont have to wait that long

Anyone holding theta has to consider holding Tfuel aswell, they go hand in hand and I think Tfuel has bigger quicker gains to be had

Where can I buy theta, currently have a CoinMetro wallet.

Regards from a crypto noob

Irish_rat · 13-02-2021 9:01pm

frag420 wrote: »

Where can I buy theta, currently have a CoinMetro wallet.

Regards from a crypto noob

Binance is your best bet and then transfer it to your theta wallet.

There is plans to have a theta app for the ledger nano this year. I think this is an important item to get completed. Like to keep my theta in cold storage for few years.

Lex Luthor · 13-02-2021 11:10pm

I dont think you can get it yet on Binance US

Imagine when it does become available for the US..............

Daithi40 · 13-02-2021 11:26pm

picked up some last night after a bit of research... thanks for recommending these guys

Lex Luthor · 13-02-2021 11:37pm

Daithi40 wrote: »

picked up some last night after a bit of research... thanks for recommending these guys

if you can get some Tfuel aswell imo I would try hold some portion

Daithi40 · 14-02-2021 12:40am

Lex Luthor wrote: »

if you can get some Tfuel aswell imo I would try hold some portion

done.... thanks again

Irish_rat · 22-02-2021 8:44pm

14k edge nodes, that is astonishing growth. Hopefully they can use edge computing more to take advantage of this high number of nodes.

I'm pretty sure there was only 1.5k nodes in October which is insane.

Irish_rat · 02-03-2021 9:31pm

Super super bullish. They gave a hint on the AMA in December.

Sony are now in the ranks as validator node with the likes of Samsung, Binance and Google Cloud.

Sony's European subsidiary is the latest company to join the validator program of the Theta Network, a decentralized blockchain-based video protocol.

Sony Europe’s research and development group, the Center Europe Brussels Laboratory, has joined Theta’s enterprise validator and governance council program, the company announced Tuesday.

As part of the development, Sony will operate an enterprise validator node located in Europe to validate network transactions on Theta’s proof-of-stake consensus protocol. Sony Europe will also act as a member of the governance council to participate in strategic technology planning and ensure the network’s security and stability.

The validator program includes major technology firms like Google and Samsung, as well as industry firms like Binance, Blockchain.com and Gumi.

Source

yabadabado · 03-03-2021 6:57pm

Lex Luthor wrote: »

Anyone holding theta has to consider holding Tfuel aswell, they go hand in hand and I think Tfuel has bigger quicker gains to be had

Only realized this thread was here today.I bought some back in December on Binance.

I know nothing about Tfuel or Theta really so just wondering is there something I should be doing when I already owe Theta?

I see staking mentioned a lot with crypto but as a newbie I hadn't done anything other than buy some 3 months back.

Unearthly · 04-03-2021 1:54pm

Theta and Tfuel living in opposite land to the rest of my red portfolio today

Ronan|Raven · 04-03-2021 11:11pm

yabadabado wrote: »

Only realized this thread was here today.I bought some back in December on Binance.

I know nothing about Tfuel or Theta really so just wondering is there something I should be doing when I already owe Theta?

I see staking mentioned a lot with crypto but as a newbie I hadn't done anything other than buy some 3 months back.

For staking Theta the minimum amount is 1000
To stake Theta a guardian node is required.

https://docs.thetatoken.org/docs/guardian-node-overview

For staking TFuel the minimum amount is 10000To stake Tfuel an edge node is required.
https://docs.thetatoken.org/docs/setup-theta-edge-node

The rewards for Theta staking are not great at present but should increase a lot after the mainnet 3.0 launch.

https://thetatracker.com/Calculator.aspx to see current rewards for staking Theta.

I dont have the current reward to hand for staking tfuel at present but same as Theta it will increase substantially after mainnet 3.0

You can also "mine" Tfuel using the edge node. No staking required for that to work.

Rob2D · 05-03-2021 9:47am

There's huge rewards available for running a EEN. Will post the numbers later when I have time. Was reading about it last month and if you can actually do it you'll pretty much have a livable passive income from this alone.

Ronan|Raven · 05-03-2021 12:01pm

Rob2D wrote: »

There's huge rewards available for running a EEN. Will post the numbers later when I have time. Was reading about it last month and if you can actually do it you'll pretty much have a livable passive income from this alone.

That would be great if you could.

Some of the numbers I saw floating around for Post April 21st seems to show a daily reward of 17 Tfuel for 10k Tfuel staked.

One other option for staking Theta I forgot to mention is to use gpool.io however for the network to grow it would be better if people could setup their own Guardian Node and stake via it.

Lex Luthor · 05-03-2021 12:05pm

Daithi40 wrote: »

done.... thanks again

that Tfuel purchase on the 13th Feb must be probably 2.5x by now

Daithi40 · 05-03-2021 1:58pm

Lex Luthor wrote: »

that Tfuel purchase on the 13th Feb must be probably 2.5x by now

Theta +47%
TFuel +186%

Rob2D · 05-03-2021 2:34pm

This is from a while back in a Patreon group I'm in (I have edited out some parts out of respect):

How A $47,000 Investment Could Create A $2400 Monthly Income For Life

This is why blockchain and cryptocurrencies are here to stay and is the dream investment for many.

Take a look at the chart above (and also attached). This is the estimated TFUEL reward for people who will be running an Elite Edge Node, which is the staking of Tfuel on a dedicated computer running 24/7.

When THETA mainnet 3.0 comes out on April 21st, the Tfuel rewards will go up an estimated 55x from the current pre-EEN rate.

The monthly income is estimated to be close to $2400 from an investment of 500,000 Tfuel, which is approximately $47,000 as I write: $.094 Tfuel x 500,000 = $47K.

This will be a fantastic 'stay at home' opportunity for investors who don't want to buy a franchise. Did you know that the average income for a McDonald's franchisee is a little more than $100,000 per year, and with an investment of $1M to $2M ... plus they have to babysit teenagers!

With a *$200K investment in Tfuel, which would be 1/5th to 1/10th the cost of a McDonald's franchise, an investor would be earning about the same amount, but at a fraction of the cost — and with a lot less hassle.

If you decide to run an EEN or not, I hope you realize that we have a golden opportunity right at our feet.

Running an EEN, as stated above, requires some maintenance, because you'll need to keep the server running day and night, and a reliable internet up-time is important. This is not everyone's cup 'o tea, but for others, this is a dream business.

If you have no plans to run an EEN after Theta mainnet 3.0 (on April 21st), there is still a big opportunity with Theta and Tfuel. All we have to do is stake our THETA, totally hands-off, to earn TFuel, or simply buy Theta and Tfuel, hold onto them, and watch the value rise.

The value will increase because we have the opportunity to buy a 'digital franchise' that others will want to buy from us. What I mean by that is— just by buying and holding Theta and Tfuel, we are taking theses "shares" off the market, drying up supply, and others will want what we have.

In fact, they already do. Tfuel has gone up in price by many multiples.
$.50 Tfuel this year? Let's upgrade that. Recently I said as much as $.80, but I believe we'll see $1+ in 2021.

Mainnet 3.0 - what it means to the price

Look at what happened with the price of Theta prior to mainnet 2.0 back in May of 2020. There was a 5x increase in the price of Theta.

We may see a similar increase in both Theta and Tfuel as we approach the end of April.

Action plan

Get as much Theta and Tfuel as you can up until April 21, 2021.

Buy Up To prices are $5-$10 Theta and $.12 Tfuel (up from $.10).

Remember...

...that staking THETA generates passive, 100% hands-off income, via Gpool. Both Theta and Tfuel have their unique purposes and will become highly sought after in the future.

Details for running an Edge Node: https://docs.thetatoken.org/docs/setup-theta-edge-node

*In order for someone to invest $200K into Tfuel and earn an estimated income of $100K+/yr, they would need 4 separate EEN's, because the maximum you can stake in one EEN is 500K Tfuel (current cost of $47K). This would need to be done by having one user and three other friends or family members located at different IP address to run four EEN's. Most people will be running just one EEN staking between 10K and 500K Tfuel, from their home or business.

Final thought: You can stake as little as 10K Tfuel, which will cost about $940 at the time of this post. If the above chart is accurate, the income generated would be close to $50 per month. This is enough to cover most internet bills and many people will be happy with that.

Rob2D · 05-03-2021 2:37pm

So I dunno. Maybe the whole thing will amount to nothing. BUT, if someone had the money to spare, it mightn't be the worst thing to gamble on.

THETA and TFUEL were largely immune to the last big dip we had, so they seem resilient enough so far to volitility.

I AM NOT A FINANCIAL ADVISOR :pac: :pac:

Unless this actually turns out to be a home run. In which case I WILL be your financial advisor and my invoice will be on it's way to you in the mail.

connie147 · 05-03-2021 4:34pm

Thanks to Rob for the detailed post. WP

seannash · 05-03-2021 7:23pm

Is that passive income based on the price of theta staying constant. I assume so

Rob2D · 05-03-2021 11:28pm

seannash wrote: »

Is that passive income based on the price of theta staying constant. I assume so

Yeah so all those numbers have already all gone way up.

seannash · 05-03-2021 11:59pm

Rob2D wrote: »

Yeah so all those numbers have already all gone way up.

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Rob2D · 06-03-2021 12:20am

seannash wrote: »

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Well sure, there's risk with anything. But at least THETA is bona fide.

I wouldn't be putting a tenth of that money anywhere near that DEFI/BSC nonsense. Majority of them are rug pulls.

Irish_rat · 06-03-2021 2:16am

yabadabado wrote: »

Only realized this thread was here today.I bought some back in December on Binance.

I know nothing about Tfuel or Theta really so just wondering is there something I should be doing when I already owe Theta?

I see staking mentioned a lot with crypto but as a newbie I hadn't done anything other than buy some 3 months back.

First thing I would do is create a theta wallet and move the lot off binance.

Irish_rat · 06-03-2021 2:20am

Rob2D wrote: »

Well sure, there's risk with anything. But at least THETA is bona fide.

I wouldn't be putting a tenth of that money anywhere near that DEFI/BSC nonsense. Majority of them are rug pulls.

Cheers for the detailed information on the EEN. It's food for thought, even 50k tfuel would be interesting to stake. Not a huge commitment by any means.

Daithi40 · 06-03-2021 2:45am

seannash wrote: »

Oh no I get that. Theres a few ways to make pasisve income out there but the risk is still it all comes down.
For example theres great staking rates on autofarm which could get you a liveable wage for half the investment.

Thanks for that, would you mind giving us more info

yabadabado · 06-03-2021 10:45am

Irish_rat wrote: »

First thing I would do is create a theta wallet and move the lot off binance.

I was looking at wallets but thought Binance was safe or at least was one of the more secure options.

djan · 06-03-2021 12:02pm

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table? Happy to be proven wrong but blockchain and decentralisation is not required for everything.

Rob2D · 06-03-2021 1:23pm

djan wrote: »

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table?

Well I wouldn't call Netflix a direct competitor. Something more applicable here would be Twitch. And in comparison to AWS, I assume anyone on THETA would have much more control over things than if they were beholden to Amazon.

djan wrote: »

blockchain and decentralisation is not required for everything.

No but it's nice to have all the same. It opens the door to a lot more people worldwide as anyone can run a server.

THETA are also launching their own NFT marketplace and integrating it into the streaming. Imagine all the big streamers move over and can sell their own NFT's live. Could be big business.

The co-founders of Youtube and Twitch are involved in the project so I'd say they're going to give a good stab at it. But of course you're right to be sceptical. It might never catch on either.

Irish_rat · 06-03-2021 2:16pm

djan wrote: »

Could someone explain the value proposition of Theta in regards to the competition of say Netflix & AWS?

There are already Multiple source P2P torrent file transfer systems without need for tokenisation etc. , so what does Theta actually bring to the table? Happy to be proven wrong but blockchain and decentralisation is not required for everything.

Theta is a like a little seed its just shooting but will it grow into a full bloom remains to be seen. That is what is like to invest in businesses starting up, you are taking some element of risk but its not exactly high risk anymore.

They will never compete with aws, that's a ridiculous level of scale, but their technology right now is very cost effective for smaller streaming business that want a cheaper cdn. Try their platform and see how much video that is collected from their network vs cdn.

Then you have to think of the work that is going on in the background with Samsung, Sony and Google Cloud. They are not just validators but big investors in the project.

Adoption is the key mantra here and that goes for blockchain in general. It should be regarded as a long term strategy, as in 5-10 years.

djan · 06-03-2021 3:30pm

Thanks for the replies guys. The video streaming market is hugely competitive so they have their work cut out for sure. I would say from a business perspective, its easier to buy a fixed price streaming service such as vimeo, vixy, youtube, twitch etc. rather than rely on fluctuating tokens.

I agree with the technological usage, but see the tokens as merely a way to raise funds rather than being core to the functionality. Then again, that can be said for many crypto projects!

After having said that must throw a bit in just so that this post doesn't haunt me!

Theta Network

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