Theta fuel cryptocurrency

Theta Fuel (TFUEL) is a cryptocurrency powered by Theta Network. What is Theta Fuel and how does it work? Before entering cryptocurrency, it is important to know what Theta Network is and the problems they are trying to solve.

The Theta Network is not a video streaming system, but acts as a modified version of a Content Delivery Network (CDN). In this network, users are encouraged to share their unused bandwidth or bandwidth to transfer video content or streams to another user in a local area. This can be done when a user streams content.

The network was designed to compete with online video streaming platforms such as YouTube, Netflix, Amazon Prime or Twitch, but it was designed to help them reduce costs and reduce, if not eliminate, middlemen and companies.

The technology behind Theta Networks

The Theta blockchain is secured by a proof-of-stake system. The proof-of-concept agreement supports advanced transactions compared to the proof-of-work method. The PoS system also allows for different devices to act as observers and caching nodes.

It has added a Byzantine Fault Tolerance (BFT) mechanism to its block to achieve higher security.

TFUEL was created by Theta Token and is designed to work alongside THETA.

Theta has developed a resource-based micropayment pool to address scalability issues and allow users to create non-binding micropayment pools. It is very important for any blockchain system to solve its scalability problem and provide appropriate flexibility. So users can use multiple nodes to have the same transaction on-chain. Theta uses proof of participation to track the delivery of video segments.

This shows that the viewers actually watched the video live. It creates a reliable and trustworthy system for advertisers and users to track their video engagement. This creates awareness and is a way to achieve TFUEL. The Theta Network also introduced “Secure Millions” at launch to ensure that no single company controls or has a monopoly on most of Theta’s tokens. 12 Vliadator gates and 395 security guards play an important role in ensuring the speed of business.

This helps theta get more than 1000 TPS transactions. The network uses Smart Streaming Contracts to distribute and collect rewards. These agreements are useful for advertisers, viewers, broadcasters, video content creators and content providers. It was originally designed for use with support.

This Smart Streaming contract will also benefit from staking and lighting. Theta uses “Gossip” as part of the technology. Instead of one node sharing all the information, Theta relies on different nodes to broadcast the information.

Working Principle of Theta Fuel (TFUEL) work

Both theta tokens and theta fuel are based on the theta blockchain network, which operates on a proof-of-stake verification system. In addition to this security, there is another security provided in the theta blockchain through the Byzantine Fault Tolerance / BFT multi-level consensus method, which provides an irrefutable security and allows for safe, easy transactions. and quickly.

At the launch, the theta network added supervisor nodes to the theta network, these supervisors are responsible for the fact that no one person / node has the right or access to modify the network, but the global consensus of the node guardians all can do it.

These servers, apart from providing security, offer incredible transaction speeds, which are around 1000+ transactions per minute, according to the network’s statement. The network also rewards people who participate in the management of the network, in the form of tokens.

Features and updates Theta Fuel (TFUEL).

Theta Fuel (TFUEL) is the main asset of Theta Network, providing various services for users. It is used in smart contracts to interact and is the gas for the protocol. It runs on “Proof-of-Stake” authentication algorithm and has a market capitalization of approximately $2 billion. In addition, TFUEL serves as a payment method for setting up caching nodes and is used as a currency for NFT and Decentralized Finance (Defi) applications. Theta uses a Byzantine-style protocol (BFT) for added security and advanced transaction processing.

Finally, Theta Network is a fast and efficient platform composed of 10 to 20 Validator Nodes and more than a thousand security guards. In order to ensure that the nodes comply with the requirements of the approval committee, Theta Network only requires that they accept hashes of checkpoint blocks.

What makes Theta Fuel (TFUEL) special?

Theta Fuel (TFUEL) is one of the most popular cryptocurrencies in the crypto space. However, these points make it unique in its own way.

Streaming data is usually accessed through a Content Delivery Network (CDN), but Theta Network uses a different mechanism where peer-to-peer sharing takes place. In this way, users who watch and distribute video streams receive TFUEL tokens, which can be used to pay for gas.

In addition,

Theta Network uses a payment pool for resources. In an unbundled payment pool, users can create a pool of unbundled payments that other users can withdraw from using unbundled transactions.

What is TFUEL used for?

• TFUEL is a token of the Theta blockchain and uses the power of transactions on the network.
• It is also used to motivate users to contribute their resources to the network, such as bandwidth and security.
• TFUEL is also used to simulate the Theta process in nonlinear networks. TFUEL is used to reward users for joining the network, to pay for services on the network, and to support Theta values.
• TFUEL is used as the community currency in the Theta network for payments, debts, and commissions. Theta Fuel is an ERC20 token that can be used to pay for services and rewards on the Theta network.