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Theta Fuel (TFUEL) is the main token used for everyday activities and rewards on the Theta network, which is a decentralized system for streaming videos.
Theta Fuel (TFUEL) is the native token of the Theta Network, a decentralized system focused on video streaming and aiming to provide a more efficient model than traditional platforms.
In a world where video streaming is rapidly expanding with wider internet access and faster connections, the potential of blockchain technology is being explored to revolutionize this industry.
Centralized video streaming, controlled by a few major companies, has led to high prices and limited options for viewers. To remedy this, the Theta Network is presenting a decentralized streaming system with no single point of control, powered by blockchain technology and its own unique tokens.
This setup benefits the entire industry: viewers enjoy better streaming quality and can earn rewards, content creators can increase their earnings, and video platforms save significantly on the cost of building and maintaining their own infrastructure.
The Theta ecosystem was launched in 2017 with its two tokens and a custom-built blockchain. It is led by Mitch Liu and Jieyi Long, and the team also includes experienced engineers and media professionals who previously worked with major tech companies like Samsung, Netflix, and Amazon.
Their strong background and expertise have been instrumental in helping Theta become one of the leading blockchain platforms in the media industry.
How Does TFUEL Work?
The Theta Network is powered by two main tokens: THETA, used for governance and supported by community-run Guardian Nodes, and TFUEL, a utility token that fuels the decentralized delivery of video and data.
It is also used to pay for transactions and various operations across the network, similar to how gas tokens function in other blockchain ecosystems.
Moreover, TFUEL is used to reward individuals who contribute their internet bandwidth and computing power to support video streaming and data processing.
The main purpose of the Theta platform is to make video streaming, edge computing, and data delivery more decentralized, which helps improve performance, reduce costs, and build more trust among participants.
This setup benefits the entire industry: viewers enjoy better streaming quality and can earn rewards, content creators can increase their earnings, and video platforms save significantly on the cost of building and maintaining their own infrastructure.
The Theta ecosystem was launched in 2017 with its two tokens and a custom-built blockchain. It is led by Mitch Liu and Jieyi Long, and the team also includes experienced engineers and media professionals who previously worked with major tech companies like Samsung, Netflix, and Amazon.
Their strong background and expertise have been instrumental in helping Theta become one of the leading blockchain platforms in the media industry.
What is Theta Fuel Used For?
As a utility token, TFUEL has several functions within the Theta ecosystem. It is used to pay for transactions and smart contracts on the Theta blockchain, similar to how gas tokens operate in other blockchain networks.
Additionally, TFUEL is used to reward individuals who contribute their bandwidth and computing resources to support the efficient operation of the network.
This can be done through running an Edge Node, which helps process and deliver video content more efficiently, or by staking THETA tokens to become a Guardian Node, which is responsible for securing the network and voting on important proposals.
Those who contribute in these ways receive a portion of the TFUEL tokens generated through transaction fees and other network activity.
Furthermore, as the Theta ecosystem expands and new services are introduced, TFUEL will likely play an even greater role in facilitating seamless interaction and engagement among users, developers, and organizations operating within the Theta Network.
Theta Fuel Historical Price Sentiment
TFUEL began its journey on June 28, 2019, with a starting price of $0.00971. As the token entered the market, it experienced a steady decline in the months that followed, dropping below the $0.005 level by early September 2019.
However, following the introduction of updates by Theta Labs and attention from major partners like Google, Samsung, and Binance, TFUEL began to gain some momentum.
Early in 2021, the token experienced a surge in response to broader bullish market sentiment and anticipation around Theta Mainnet 3.0, which brought TFUEL staking and burning.
During this period, TFUEL hit several local highs and began trading in the $0.10 to $0.50 range, with peak moments pushing it even higher during market rallies.
Finally, after months of anticipation, the moment arrived when Theta Fuel (TFUEL) briefly broke through the $0.60 barrier in June 2021. This milestone occurred during a broader surge of interest in altcoins and utility tokens.
The decentralized streaming platform, Theta.tv, also contributed to this rally as it attracted a growing user base. However, like the rest of the crypto market, TFUEL faced a steep correction later that year, dropping back below the $0.30 level by the time 2021 drew to a close.
Throughout 2022 and much of 2023, TFUEL continued to
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