Theta Fuel is one of the two native tokens on the Theta blockchain.
Theta Fuel is the operational token of the Theta protocol; it powers on-chain operations like payments to 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.
Users are rewarded for sharing their redundant computing power (Edge Compute nodes) as well as bandwidth resources (Edge Caching nodes) to relay video by earning Theta Fuel (TFUEL) tokens for their contributions.
The Theta blockchain aims to decentralise video streaming, computing and data delivery. Unlike other peer-to-peer protocols, this improved model will benefit all stakeholders including the platforms, end users, and Theta Fuel token holders that operate the underlying blockchain.
The platform is running on open source code. Since it was built from the ground up on a proof-of-stake (POS) model, token holders are able to manage the network itself. The core Theta protocol includes cross-chain bridges for Theta blockchain users to interact with other blockchains and decentralised applications (Dapps) on Ethereum, Binance Smart Chain, Polygon, and others.
Byzantine Fault Tolerance (BFT) mechanism allows the network to provide strong security while ensuring high transaction volume and speed, which is important for streaming services and micropayments.
The Theta blockchain is supported by thousands of community-run Guardian nodes, which were launched in March 2019. The nodes ensure that no user will control the majority of tokens at any given time. This enables a high throughput of 1000+ transactions per second. Guardian nodes play an important role in securing the Theta blockchain as they form a second level defense against potential malicious attackers.
Since the protocol encourages user participation; therefore, users are guaranteed adequate protection since they are the ones who secure the platform.
The asset’s maximum supply is 5,301,214,400 coins.