| General information | |
|---|---|
| Global rank: | 56 |
| Name: |
Theta Network |
| Symbol: | THETA |
| Current coin price (KMF): | 621.79 CF |
| Last hour: | arrow_upward0.810 % |
| Last 24 hours: | arrow_downward-3.86 % |
| Last 7 days: | 4.55 %trending_up |
| Capitalisation (KMF): | 621 794 909 594.14 CF |
| Volume 24h (KMF): | 10 621 324 833.58 CF |
| Available supply: | 1 000 000 000.00 THETA |
| Total coin supply: | 1 000 000 000.00 THETA |
| Start date: | 2019-03-15 |
Theta Network/Comorian Franc (THETA/KMF) price chart
Theta Network/Comorian Franc (THETA/KMF) capitalisation and volume charts
Theta Network is a blockchain platform designed for the media and entertainment industry. It enables video and media platforms to reduce content delivery CDN costs, generate incremental revenues, and rewards end-users for sharing their storage and/or bandwidth on any PC, mobile, Smart TV, or IoT device. Theta supports Turing complete smart contracts and is fully compatible with Ethereum, allowing the development of a range of Web3 applications, including NFTs, DEX/DeFi, and DAOs, for the next generation of media and entertainment platforms.
Theta Blockchain has a multi-level Byzantine Fault Tolerant (BFT) consensus mechanism that combines a committee of 20-30 enterprise validator nodes with a second layer of thousands of community-run guardian nodes. Validator nodes propose and finalize new blocks in the chain, while guardian nodes act as a check on malicious or non-functional validator nodes. This design makes the Theta Blockchain highly decentralized, and the thousands of guardians offer an extra layer of security. The Theta Blockchain can process 1,000 transactions per second, and its consensus mechanism is fast, green, and has virtually zero carbon footprint.
The Theta blockchain provides full support for Turing-complete smart contracts, which can enable digitized item ownership, innovative payment-consumption models, transparent royalty distributions, trustless crowdfunding mechanisms, and much more. The Theta Virtual Machine is compatible with the Ethereum Virtual Machine, making it easy for Ethereum-based contracts to be ported over to Theta. This means thousands of smart contract developers can easily start building on Theta, tapping into its growing user and capital base.
Theta Metachain is a concept announced by Theta Labs in April 2022, targeted to launch on Dec 1, 2022. It is an interconnected network of blockchains, a “chain of chains,” that allows permissionless horizontal scaling of the Theta blockchain network to achieve potentially unlimited transactional throughput and block finalization time of 1-2 seconds or less. The Metachain consists of one “main chain” and an unlimited number of “subchains,” which execute transactions independently. This provides a viable path to infinitely scale the processing capacity of the Metachain. The subchain SDK will implement a built-in interchain messaging channel which connects the subchains and the main chain, allowing crypto assets like TNT20/721 tokens to flow freely across the chains. The process of creating a subchain is permissionless, meaning anyone can register and launch a subchain without Theta Labs' approval.
Theta Network has a dual token design that includes the governance token, THETA, and the operational token, TFUEL. THETA is used to stake as a validator or guardian node, contribute to block production, and protocol governance of the Theta Network. By staking and running a node, users earn a proportional amount of the new TFUEL generated. The supply of THETA is fixed at 1 billion and will never increase. TFUEL is used for on-chain operations like payments to Edge Node relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network. The supply of TFUEL increases annually at a fixed percentage set at the protocol level.
In addition to the Validator and Guardian Nodes, the Theta Edge Nodes form the Theta Edge Network, which is a fully decentralized network for data storage, delivery, and more generally edge computing. As of February 2022, there were over 130,000 Theta Edge Nodes worldwide. Theta Video API, powered by Theta Edge Network, allows developers to add decentralized video to any website or application without any central servers, content delivery or video hosting software. Theta EdgeStore is an append-only, content-addressing, decentralized key/value storage network for the permanent web, also acting as a decentralized content delivery network for any type of files. Theta Labs has received patent approval for USPTO Application No. 17/218,245, a technology developed for implementing decentralized digital rights management (DRM) via NFTs in a decentralized network. This technology can be used for managing rights across a number of domains, including live performances and concerts.