The world of online streaming started to pick up back in 2010. The advent of high-speed fiber connections and 4G networks saw people flock to streaming platforms like Netflix, turning their backs on traditional entertainment.
The Theta Network promises to revolutionize the streaming experience. Theta is bringing the blockchain to online video streaming, offering a decentralized alternative to streaming video-on-demand. The project’s vision is to provide high-quality video streaming without buffering or interruptions.
Furthermore, the project plans to utilize storage and bandwidth from users not using their Network or streaming capability to its full capacity, forwarding these resources to other users on the Network. The result is an effective streaming platform that reduces wasted resources.
Our guide to the Theta Network and its native token, THETA, will unpack everything you need to know about this blockchain streaming project.
Where to Buy Theta Network THETA
- 1 Where to Buy Theta Network THETA
- 2 What is Theta?
- 3 Micropayment Pools
- 4 The (POE) Proof-of-Engagement Protocol on Theta Network
- 5 Smart Streaming Contracts
- 6 The Theta Token Network
- 7 Who are the Participants in the Theta Network?
- 8 Theta Network Guardian Nodes
- 9 The THETA Mainnet 3.0
- 10 Staking TFUEL
- 11 ThetaSwap DEX
- 12 In Closing
This section is our top picks of where and how to buy the Theta Network THETA Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- eToro: Our Top Pick & Easy to Use Platform
- Binance: Largest Crypto Exchange with Low Fees
- Kucoin: Beginner Friendly & Lots of Choice
- Gate: Great Exchange for Newbies & Advanced Users
Visit The Top Pick
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
eToro: Easy to Use
eToro is a great easy to use exchange to buy this crypto. The platform is a social trading broker that allows investors to buy, sell and convert over 80 cryptocurrencies.
This exchange features a simplified user experience that makes it easy for investors with zero knowledge of crypto trading to find their way in the trade market.
With a minimum deposit of $10, depending on region, investors can easily buy and sell digital assets. One major feature that makes crypto enthusiasts trust eToro is its seamless array of deposit channels, including bank transfers, direct crypto deposits, debit/credit cards, and e-wallet solutions like PayPal.
eToro allows fee-free deposits on all payment channels and zero charges for account opening or management. However, a standard fee of $5 for all withdrawals and a 1% flat fee on all completed trades are charged. Investors are also charged a $10 inactivity fee monthly if they fail to trade on the platform for a year. eToro has many features that make it one of the biggest social trading networks.
One of the most impressive features is the CopyTrader option. This feature enables investors to learn how to buy different crypto coins and tokens by finding experienced traders on the platform and copying their successful trade strategies to profit whenever they do.
For security, before signing up, eToro requires traders to enable two-factor authentication (2FA) for added protection to their accounts. eToro also features advanced encryption and masking technologies to secure all users' accounts.
This broker operates in 140 countries and is licensed and regulated by top financial institutions like the U.S. Securities and Exchange Commission (SEC), Cyprus Securities and Exchange Commission (CYSEC), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and Financial Industry Regulatory Authority (FINRA).
- Purchase Crypto with minimal costs.
- Regulated by top financial institutions
- Wide range of deposit methods
- 1% flat fee on crypto trades
- Seamless account opening
- $5 Withdrawal fee
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Binance: Largest Crypto Exchange
Binance is the biggest cryptocurrency exchange in terms of daily trade volumes. Cryptocurrency investors can enjoy full access to trade over 600 crypto assets, including big movers like Bitcoin, Ethereum, and most of the top cryptos. With a minimum deposit of $10, investors can instantly start investing their crypto of choice.
Besides its large inventory of crypto assets, Binance also offers the lowest trade fees in the market. Binance charges 0.1% on all trades, and there’s an option for this figure to be further discounted by 25% for investors who hold Binance Coin – the exchange’s native token.
Funding your Binance account is seamless and straightforward. The exchange supports several deposit channels, including bank wire transfers, peer-to-peer (P2P) payments, credit/debit cards, and payment processors.
However, unlike eToro – deposits are not always free. For instance, Binance charges customers a standard fee of up to 4.50% on all crypto purchases made with debit/credit cards. Crypto deposits, on the other hand, are free.
This popular crypto exchange features a detailed learning curve and advanced trading tools, making it more suited for well-experienced traders and not beginners.
In terms of security, Binance offers the best security integrations. This broker features two-factor authentication (2FA), whitelisting, and advanced data encryption to protect customer funds and data. Also, Binance utilizes cold storage to store a vast majority of its funds, and the exchange also operates an insurance fund that protects customers in the event of an attack.
- Lowest trading fees in the market
- High liquidity on most cryptos
- Advanced trading tools
- Large crypto inventory
- Wide range of deposit channels
- Not beginner-friendly
KuCoin: Beginner Friendly & Lots of Choice
This exchange, one of the oldest and most popular brokers globally, is especially suited for derivatives traders and sophisticated investors. However, everyday investors looking to get into the market can make use of the broker as well.
Based in Seychelles, KuCoin isn’t licensed to operate in the United States. However, investors in other countries can easily access the broker and buy coins. The exchange currently supports over 200 cryptocurrencies and 400 trading pairs, and it has a full suite of features that encompasses savings, staking, and even Initial Exchange Offering (IEO) participation.
This broker works for advanced traders or beginners, the interface takes a little time to get used to but it's fairly intuitive and there are tutorials on the site.
Currently, KuCoin doesn’t accept bank deposits. Instead, the broker allows investors to deposit using cards, swift peer-to-peer (P2P) transfers, and direct crypto transfers. Users can only deposit fiat or crypto, and KuCoin requires a $5 minimum deposit.
Trading fees on KuCoin stand at a flat rate of 0.1%. However, these fees could reduce based on users’ 30-day trading volumes and their ownership of KuCoin’s KCS token.
The broker also takes security very seriously, with bank-level encryption and security infrastructures to keep users’ funds and data safe.
- Bank-level security infrastructure
- Access to IEOs
- Quick P2P trading system
- No bank deposit option
Gate.io: Good Platform With Huge Range
Gate was established in 2017 and has maintained a good reputation since then among experienced traders and beginners alike.
They offer one of the largest ranges of crypto coins and tokens available, currently standing at over 1400 different assets to trade.
The site is secure and easy to use with some nice extra protections such as trading passwords, 2 factor authentication and so on.
There is a mobile app available and their web platform is fast and easy to use.
Gate also offers a lot of other options to trade on the platform such as NFTs, P2P trading, Futures, Leveraged tokens and also some earning options.
- Huge range of crypto to trade
- Simple & Easy to Use
- reasonable trading fees
- Mobile App Available
- No Fiat Options
- Not Regulated
What is Theta?
Theta is the leading purpose-built blockchain for video, media and entertainment. Theta infrastructure enables media platforms to drive user growth while reducing content delivery costs by 50-70% or more, all powered by 100k+ community run edge nodes sharing their storage, compute and bandwidth.
Theta is fully compatible with EVM and Ethereum smart contracts, enabling a wide range of Web3 applications including NFTs, decentralized exchanges (DEX/DeFi), decentralized autonomous organizations (DAO) and more.
The Theta Network operates on a Proof-of-Stake consensus mechanism. Therefore, it’s much less energy-intensive than traditional ‘Proof of Work’ mechanisms powering cryptocurrencies like Bitcoin. PoW allows for higher throughput compared to Proof-of-Work protocols.
By using a PoS protocol as its consensus mechanism, the Theta Network makes it possible to have several devices acting as catching nodes and viewers. The development of the ‘Resource Oriented Micropayment Pool’ solves the scaling issues with the Network, improving transaction speed.
The Theta Network also plans to use a ‘Proof of Engagement’ (PoE) mechanism to track deliverables to network users. The Theta Network relies on Smart Streaming Contacts (SSCs) to collect and distribute token rewards on the platform.
The Theta ‘Resource Oriented Micropayment Pool’ was created by the development team to create off-chain payment pools users can utilize for their off-chain withdrawals. These micropayment pools are designed to resist double-spending while offering better flexibility than similar off-chain pools.
One of the primary use cases for the micropayment pools is to allow for payments to utilize several caching nodes when completing on-chain transactions. The solution’s direct benefit is improving scalability by keeping smaller transactions away from the blockchain.
The (POE) Proof-of-Engagement Protocol on Theta Network
The Theta Network utilizes ‘Proof of Engagement’ protocols to track user engagement and activity on its platform.
This PoE protocol proves viewers watched a live video. As a result, the PoE protocol provides better transparency for advertisers and acts as a mechanism to earn THETA tokens as a reward for engaging with the content.
The PoE protocol creates a reliable measurement of engagement on video streams. It’s also a trustworthy method for advertisers and viewers to calculate their engagement on the platform.
Smart Streaming Contracts
The Smart Streaming Contract is a type of smart contract facilitating the collection and distribution of THETA tokens as rewards on the Theta Network. There are several use cases for Smart Contracts, including the following.
- Advertisers can reward viewers and streamers.
- Viewers can gift rewards to their favorite creators and streamers.
- Gift contracts for streamers.
- Unlock premium content behind a paywall.
- Subscriptions to Decentralized Content Networks or streamers content.
- Cachers share rewards with content streamers and viewers.
Smart Streaming Contracts are executed by validators on the Theta Network. This means the entity or person funding the smart contract doesn’t have to have any involvement in the validation or distribution of THETA tokens.
These smart contracts launched alongside Mainnet 3.0 in early 2021. The Theta Network also uses smart contracts to initiate its staking and burning of the TFUEL token.
The Theta Token Network
The THETA token was launched in late December 2017 and issued as an ERC-20 token. THETA tokens were also part of SLIVER.tv and used similarly to reward users and streamers who share their resources like bandwidth and memory with the Theta Network.
The mainnet didn’t launch until March 2019, with network users receiving free airdrops of Theta Fuel (TFUEL) tokens. V 2.0 of the mainnet went live in May 2020, with Theta introducing guardian nodes to provide a two-layer consensus mechanism.
This two-layer Network complements Enterprise validators, operated by global partners including Samsung, Google, Gemini, Binance, and Blockchain.com.
Theta Fuel (TFUEL) was intended to serve the same function as ‘gas’ on the Ethereum network, using it to fund transactions on the mainnet. With the launch of mainnet 3.0, users of the Theta Network now receive TFUEL tokens as rewards on the platform.
The TFUEL token powers all on-chain transactions and operations. It covers payments to the relayers sharing video streams or interacting or deploying smart contracts. Relayers earn TFUEL when relaying video streams to other Theta Network users.
In conjunction with the THETA token, TFUEL serves as the staking and governance token for the Theta Network protocol. THETA and TFUEL are the two tokens making up the Theta Network economy. The introduction of mainnet 3.0 saw the Theta Network add a new mechanism for burning and staking TFUEL tokens.
Who are the Participants in the Theta Network?
Several nodes and stakeholders are assisting with managing the Theta Network. The development team built the Theta Network with five groups of users in mind.
Streamers and Influencers
Creators publishing and sharing video streaming content on the platform are rewarded with the THETA token for their efforts.
Users utilize the Theta Network (Theta.tv) to stream and consume content. Users provide engagement and are rewarded for their contributions and for viewing advertisements.
Advertisers spend THETA to advertise to viewers on the platform. THETA buys the advertiser time on the Network and helps them sponsor influencers.
Caching and Ingest Nodes
The servers and computers providing caching services to the Theta Network improve the delivery and quality of video streams. They receive THETA tokens as rewards. Nodes assist with providing bitrates, streaming resolutions, and more. They issue services to the caching nodes for streams, receiving THETA tokens as a reward.
Theta Network Guardian Nodes
The Theta Network guardian nodes finalize the blocks produced using the Theta multi-BFT consensus protocol. Theta Network community members run these guardian nodes, receiving rewards in TFUEL.
If you want to run a guardian node on the Theta Network, you need certain technical specifications for your computer, and you have to stake at least 1,000 THETA to the protocol.
The Theta Network started onboarding guardian nodes in May 2019, establishing 100 nodes by November of the same year.
The team transitioned the guardian nodes to the mainnet in May 2020, beginning the tasks of assisting validator nodes with securing the Theta Network, producing blocks, and earning the TFUEL token for their contributions to the Theta ecosystem.
By implementing guardian nodes, the Theta Network ensures no single group or entity can control THETA staked in the Network. As a result, the Theta Network gets an improvement to the decentralized nature of the project.
Guardian Nodes earn Theta Fuel (TFUEL) generated on the Theta blockchain. There are 250 million TFUEL tokens produced each year.
The THETA Mainnet 3.0
The Theta Mainnet 3.0 launched in the spring of 2021, introducing the TFUEL token and adding functionality like staking and burning. The update comes two years after the launch of the Theta Network and its decentralized peer-to-peer infrastructure for video streaming.
The Theta Network launched its ‘EdgeCast’ tech in May 2020, adding several enhancements to the protocol and the platform. The update increased video streaming capability for the decentralized edge network developed by Theta.
In December 2020, The Theta Network introduced support for Turing-complete smart contracts. This move opened the Theta Network to a new realm of possibilities, including dApps. Support for the smart contract allowed Theta to launch ‘ThetaSwap v1,’ the first decentralized exchange (DEX) on the Theta Network.
Some expected future upgrades to the Theta Network include digitized item ownership, transparent distribution of royalties, an innovative payment-consumption model, and a trustless crowdfunding mechanism.
Theta released the Mainnet 3.0 update with two core protocol innovations. The first was the introduction of the Elite Edge Nodes. These Edge Nodes require operators to stake TFUEL to them.
The new structure enables Uptime Mining, allowing the Elite Edge Nodes to receive TFUEL rewards through staked TFUEL. Nodes can earn additional TFUEL tokens by providing users with a high-performance video platform.
The core goal of the Theta tokenomics is to incentivize and reward all stakeholders in the Theta ecosystem. As a result, it ensures the utility and security of the Theta Network. This update includes a 2% to 4% TFUEL inflation mechanism brought to the Theta Network through Uptime Mining.
Elite Edge Node operators earn TFUEL rewards based on the TFUEL staked to the node and its total uptime. There’s an upper and lower limit on the quantity of TFUEL staked to Elite Nodes. The lower limit prevents ‘sybil attacks’ on the Network.
The upper limit ensures optimal decentralization levels on the Network. Should users wish to stake more TFUEL than the max limit, they will need to launch several edge nodes, splitting TFUEL across these nodes. The TFUEL burning mechanism charges the user for using the Theta Network.
The burning mechanism is a balancing force, acting against any additional TFUEL supply from the TFUEL inflation mechanism. After the launch of Mainnet 3.0, The Theta Network instituted a 25% charge on each TFUEL payment burned on the Network, effectively introducing the cost of using the Theta Network.
The Theta management team expects the widespread adoption of the Theta Edge Network will introduce a natural deflationary mechanism to TFUEL.
By introducing the Turing-complete smart contracts, the Theta Network expanded the potential use cases for the platform. ‘ThetaSwap DEX‘ is an example of a project that’s reliant on the Turning-complete smart contracts on the Theta Network. ThetaSwap DEX is the first decentralized crypto exchange hosted on the Theta blockchain.
The exchange looks like the ‘Automated Market Maker’ logic used on the UniSwap platform. With ThetaSwap DEX, users can exchange freshly distributed TNT20 tokens without custody and in a trustless procedure.
Hours after the release of the ThetaSwap DEX in February 2021, several Theta community leaders and streamers were already creating TNT20 tokens. As the ecosystem grows and receives more adoption, we can expect the activity on the Network to increase.
The creation of the ThetaSwap DEX as a decentralized exchange was a must, considering the tokens created on its blockchain. The ThetaSwap DEX provides users with an efficient and simple way to trade new tokens while maintaining an efficient pricing mechanism in the market.
Now that the ThetaSwap DEX is up and running, there’s a method for TNT20 tokens to function. Streamers using the Theta Network can issue loyalty tokens to users, offering them real value, while the DAOs or pools fund media ventures easily.
There are several exciting methods for monetizing content on the Theta Network since the launch of the ThetaSwap DEX.
The Theta Network presents a viable solution for utilizing unused streaming resources. People can join the Network and allocate their resources to the system. They receive rewards for letting other people use these resources instead of letting them sit idle.
Experts estimate that Theta Network will experience an excellent growth rate of around 18% per year going forward. The growth is expected to continue into 2024 as growth in technology like VR and blockchain advances further.
Theta aims to reduce streaming costs for its users and content distribution networks. It intends to make distribution seamless and efficient, aiming to onboard clients like Twitch, YouTube, and Netflix in the future.
Overall, the development team of the Theta Network sees the tech as injecting momentum into the development of decentralized content delivery platforms. There are plans to introduce the ‘ThetaDrop NFT marketplace’ to assist with taking market share away from other platforms like OpenSea.
Overall, the Theta Network offers a promising approach to effectively distributing streaming resources across the internet. B implementing the Theta Network, companies can reduce streaming costs while improving customer service delivery.
We feel the Theta Network is just getting started, and it’s one of the most valuable technologies to reach the streaming industry. It’s a project to watch in the next five years, with excellent potential for crypto enthusiasts.