What is Theta Network (THETA)

Theta Network is a peer-to-peer decentralized video streaming network powered by blockchain technology, and THETA is its base currency. Generally, a geographically located network of operators, a CDN (content delivery network), works to deliver video streaming content to users. However, these CDNs are not economically and qualitatively very efficient. That's where the Theta network pitches in.

Launched in March 2019, Theta Network enables everyone to help stream videos by offering their spare bandwidth and computing resources and rewarding them in return. It also allows existing video and media platforms to reduce costs for content delivery networks (CDN). As more users relay their bandwidth and space to Theta Network, the platform's capability to deliver higher-quality streaming videos is enhanced.

Theta's capabilities are not limited to decentralized streaming. It also supports smart contracts and is fully compatible with Ethereum. This makes it possible to build a range of web3 applications on the Theta Network, along with NFTs, DEX, DeFi, and DAOs.

It features a dual token design with The Theta Token (THETA) and Theta Fuel (TFUEL) tokens. While THETA is the governance token and is staked by the validator nodes, TFUEL is used for on-chain operations and rewards the platform's staking and validation process. THETA has a hard-capped supply of 1 billion. Though launched initially as an ERC-20 token, THETA got its mainnet in March 2019.

How does Theta Network (THETA) work?

Theta Network functions on three groups of PoS nodes: Enterprise Validator Nodes, Guardian Nodes, and Edge Nodes. These nodes function in a multi-level BFT (Byzantine Fault Tolerance) consensus, which is faster than the usual PoS consensus.

Here's how these nodes work:

Enterprise Validator Nodes:

Enterprise Validator nodes in the system are those enterprises that stake THETA tokens to earn the right to process transactions into the Theta network. An enterprise needs to stake a minimum of 10,000,000 THETA. Some key validator nodes of Theta are Google, Sony, Talent Shop Creative Artists Agency, and Samsung. These enterprise validators are the first line of defense in the Theta. Once this small group of validator nodes approves a transaction, it goes to a much larger group known as the Guardian nodes.

Guardian Nodes:

An individual needs to stake 100,000 THETA to contribute as Guardian nodes, ensuring that the transaction blocks proposed by the validator nodes are correct. They fully validate the transactions and store them on the blockchain. Upon malicious block activity in the work of Enterprise validator nodes, the transaction is not executed.

Edge Nodes

Edge nodes are the third type of nodes in the Theta network. They allow Theta users to relay video streams and share their surplus bandwidth with Theta.tv (a next-generation peer-to-peer streaming platform by Theta Networks). The participants of Theta.tv stream videos in smaller parts so that end users can watch content from multiple community nodes. The edge nodes receive the TFUEL Token as a reward for supporting the network.

Another essential feature of Theta Network is the resource-oriented off-chain micropayment pool. It allows content creators and viewers to send and receive THETA using off-chain transactions via the official wallet app.

Since it is fully compatible with EVM, open source, and Ethereum smart contracts, it lets dApps, DEX, DAOs, and NFTs build on its network.

TFUEL tokens are used for micropayments and receiving rewards for transaction validation and block creation on the Theta Network. The other token of Theta Network, THETA, plays an important part in the governance of the network. Users can also stake THETA to become validators and guardian nodes in the network. These nodes can help the network validate transactions and earn TFUEL as a reward.

THETA was launched in 2018 as an ERC-20 token on the Ethereum mainnet. Later, the network converted this ERC-20 THETA to THETA on its native mainnet.

How to Buy Theta Network (THETA) in India?

There are many platforms where you can invest and trade Theta (THETA) in India.

One such platform is Flitpay. To buy Theta (THETA) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Theta (THETA) and execute the Theta (THETA) purchase.

You can instantly convert your INR to Theta (THETA) and Theta (THETA) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards and airdrops for its users.

What do I do after buying Theta Network (THETA)?

Theta Network (THETA) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the Theta Network (THETA) till it reaches a high price, and then you can sell it through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

If you wish to earn from your THETA tokens without selling them, you can become a validator or guardian node in the Theta network by staking your token holdings. You can also vote in the governance of the network with your THETA tokens.

Why use Theta Network (THETA)?

Theta (THETA) is on a mission to reshape the digital landscape, offering unparalleled advantages in content delivery, user growth, and blockchain innovation. This remarkable network reduces content delivery costs by an astounding 50-70% or more, all while driving exponential user growth.

With a thriving ecosystem of over 100,000 community-run edge nodes spread across the globe, Theta facilitates the sharing of storage, bandwidth, and resources, creating a powerful peer-to-peer decentralized video streaming platform. This revolutionary approach transforms the video streaming landscape, making it more decentralized, cost-effective, and rewarding for both content viewers and creators.

Theta Network's appeal doesn't stop at video streaming. It also serves as a magnet for cutting-edge dApps and Web 3.0 products, thanks to its EVM compatibility and smart contract capabilities. Moreover, it places its native token, THETA, at the core of its operations, allowing THETA holders exclusive privileges as validators within the network. Governance of the network is likewise entrusted to THETA holders, ensuring a robust and decentralized future for digital content delivery.

FAQs

What is Theta Network (THETA)?

THETA is the native governance token of Theta Network. TEHTA holders can become validators in the Theta network and participate in transaction processing and validating while voting on the governance of the platform. The total supply of THETA is one billion.

What is the Theta Network (THETA) price in India?

Check out the current INR price of THETA crypto in India on Flitpay.

Which is the best cryptocurrency app to buy Theta Network (THETA) in India?

Flitpay is the best cryptocurrency app in India to buy THETA or your favorite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Theta Network (THETA)?

Theta Network (THETA) gives its owners the voting power to participate in the governance of the Theta network. It also helps them to become network validators and participate in transaction processing to earn the other token of the network, which is, TFUEL.

Is it safe to invest in Theta Network (THETA) in India?

Yes, investing and trading THETA is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying THETA crypto. It offers real-time prices and advanced investing features.

Is Theta Network (THETA) a Good Investment?

Theta Network (THETA) has several important roles to play in its ecosystem. It gives Theta Network (THETA) good potential as an investment. However, the crypto market is risky and volatile. Thus, investing in THETA should be done with utmost caution.