Theta cryptocurrency is a software designed to encourage decentralized video streaming platforms for global computer network operations.
Nowadays, the content delivery network (CDN), that is, the network of operators located in geographical locations, provides streaming video content to end users for a fee. Due to the location constraints, the existing CDN cannot keep up with the increasingly high-quality traffic.
Theta cryptocurrency allows its global user base to replay videos, provide them with free bandwidth and computing resources, and reward them for doing so.
As more and more users join Theta Network, more bandwidth becomes available, thus improving the streaming media quality of video on the network.
Theta is the core of performing operations on its blockchain. It has two local cryptocurrencies, namely THETA currency for voting protocol changes and TFUEL for executing transactions.
Theta is also an open-source software and claims that this increases the potential for anyone to build new applications and services on top of it.
How does Theta Network (THETA)Work?
Theta is a network supported by three groups of participants:
Enterprise validator node - a company that bets on THETA tokens to obtain the right to process online transactions. Current validation nodes include Google and Samsung.
Guardian node - the user who performs work to ensure that the transaction block proposed by the enterprise verifier node is accurate.
Edge node - users who share bandwidth or retransmit video streams through Theta Network in exchange for TFUEL.
Theta Network also allows developers to build decentralized applications on top of their blockchain. Examples include royalty distribution applications and crowdfunding mechanisms. Theta Network users can download the official Theta Wallet application to reserve or bet tokens THETA and TFUEL.
Theta has also established a micro payment system for video streaming purposes, allowing viewers and content creators to send and receive THETA through the official wallet application.
What is Theta Network (THETA)?
Theta is a decentralized video delivery network, powered by users and running on a dedicated blockchain (Theta Network).
Theta Network is the next generation blockchain focusing on media and entertainment. Theta infrastructure enables existing video and media platforms to increase revenue and reduce content delivery CDN costs, while rewarding end users to share their storage and / or bandwidth on any PC, mobile, smart TV or IOT device.
Theta supports Turing's complete smart contract and is fully compatible with Ethereum. This makes it possible to build various interesting Web3 applications on the Theta Network. Examples include non-fungible tokens (NFT), decentralized exchanges (DEX / DeFi) and decentralized autonomous organizations (DAO), which may become an integral part of the next generation of media and entertainment platforms.
Theta Network (THETA) Crypto Wallet
In addition to placing THETA in the Gate.io exchange to facilitate trading, THETA can also be placed in a crypto wallet.
Theta Wallet can now be downloaded to THETA official wallet in Google play store of any Android device and Apple App store for iOS.
When you start Theta wallet for the first time, you will be asked to set a mnemonic phrase to protect your wallet. This will also serve as a key to recover the Theta wallet in case you lose your device or need to move the Theta wallet to a new device. This function enables you to effectively save Theta tokens in the cold storage. After storing your tokens in the Theta wallet and 100% ensuring that you have recorded your mnemonic phrases safely, you do not need to install the Theta Wallet.
As long as you maintain access to these mnemonic phrases, you can reinstall your wallet on any supported device at any time, and your tokens will be securely stored in the same Theta address where you stored them. Of course, it is not always convenient to install a wallet every time you want to move tokens, but safety is the most important.
There are two schools of thought in determining the price of Theta Network.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Theta Network, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Theta Network from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Theta Network on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Theta Network as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Theta Network and the cryptocurrency market as a whole.
2. What is the highest price of Theta Network in history?
Theta Network achieved the all-time high of $15.72 in 2021-04-16, and is currently trading at $0.89.
3. What is the lowest price of Theta Network in history?
In 2020-03-13, Theta Network reached the all-time low of $0.040.
4. Should I buy Theta Network now?
It is important to remember that Theta Network, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.