Theta is a network powered by blockchain, which is built for video streaming. The Theta network was founded by Mitch Liu and Jieyi Long in 2018 but was launched in March 2019. The Theta mainnet performs as a decentralized network, through which the users share the bandwidth and resources on a P2P basis. The THETA Coin is a utility token of the Theta Network. The coin can be staked by the validator nodes or guardian nodes. It also allows nodes to validate transactions, produce blocks, vote on the betterment of the network and also earn TFUEL as rewards. Network users can download the official Theta Wallet to hold or stake THETA and TFUEL tokens.
While the Theta token is the governance token of the network, It involves the staking process, where the users will earn a profit in the form of the other native token. And, Theta Fuel is the utility token and also a gas token. Successively, the wallet is also powered by a micropayment system. It is the one that enables the content viewers and creators to send and receive the tokens. The network follows the Proof of Stake mechanism, which is also called Multi-Level BFT. Unlike proof of work, this consensus method operates at a faster rate. Theta achieves rapid speed by limiting the number of node users.