Theta Network is the leading video delivery network powered by blockchain technology. Theta allows users to simultaneously watch video content and earn token rewards for relaying video to other users who are also watching the same content.Users can contribute to Theta Network on any PC, mobile device, or smart TV. For video platforms, integrating Theta into their video delivery stack enables them to reduce their video delivery cost and drive incremental revenues. By spending less on video delivery infrastructure, and more on rewarding their users, Theta-enabled video platforms can grow their userbase and gain market share.
TFUEL is one of the tokens on the Theta blockchain that serves as the utility token in decentralized video and data delivery, it also acts as a gas token. This means that it is used to power all operations on the Theta blockchain, like payments to relayers for sharing a video stream, for deploying and interacting with smart contracts, and as fees associated with transacting NTFs and DeFi applications. In addition, it is also used to incentivize users in the ecosystem who share their redundant computing power as Edge Compute nodes as well as bandwidth resources as Edge Caching nodes for video streams and other data.
In December 2020, Theta Labs announced Theta 3.0, which introduces a new crypto-economics design for TFuel, in particular, the concept of TFuel staking and burning. This will greatly expand the capacity and use cases of the network and maximize the utility value of TFuel.