Theta is one of the fastest-growing digital assets in the market. The cryptocurrency became very popular in recent months and it could continue growing in the future. But do you really know what Theta is?
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This guide will share with you all the information you need to know about Theta. Moreover, you will learn all the details about this project and how this virtual currency became the large player it is today.
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We have different projects in the market that offer different services to users, and one of them is Theta. This cryptocurrency and blockchain network works as a decentralized video streaming platform.
We know that streamers want to search for the best way to share content online. The quality, speed and reliability of their streams is certainly important. However, only a few steamers are able to have the quality they really want.
This is where Theta helps the entire market. The project makes it possible for users to get the best quality video from a decentralized network of spare bandwidth and resources that would increase the quality of streaming videos on the internet.
Thus, Theta will be powering the streaming industry with a peer-to-peer decentralized network of computing resources and with a governance token to let the community engage in different decision-making processes.
One of the closest competitors to Theta is called Verasity (VRA), which has been expanding in recent months.
The Theta network works with the THETA and TFUEL cryptocurrencies. THETA works as a governance digital currency and also powers the entire blockchain network. At the moment, there are several validators on the network, including Binance, Google, Blockchain ventures and many others.
The platform works with a Proof-of-Stake (PoS) consensus algorithm. Users on the network are incentivized to watch content and also share their resources. The TFUEL tokens will be rewarded to users that become part of the network in an active way.
There is a total THETA supply of 1 billion and a TFUEL supply of 5 billion. During the last years, THETA operated relatively stable until mid 2020 when it started moving higher. With the expansion of Bitcoin (BTC) and the entire crypto market, Theta reached massively high prices.
From $0.65 per coin at the end of 2020, the virtual currency surged to massively high prices close to $14 a few weeks ago. The main question remains whether it will be possible for THETA to remain at these high levels.
Now, THETA stands as the 13th largest virtual currency in the market with a valuation of $12.18 billion.
Theta has been founded by recognized investors such as Mitch Liu and Jieyi Long a few years ago. It is worth mentioning that the project was announced after the Initial Coin Offering (ICO) craze experienced in 2017.
Liu has been working for several years in the video and gaming industries. This is not the first project that he founded related to video gaming. In the past, he co-founded Tapjoy and Gameview studios. These were companies that helped the entire gaming industry move forward as well. The last project has been Theta.
Meanwhile, Long has also been a very active member of the gaming industry. He mostly worked and focused on design, virtual reality and distributed systems for the industry. Thus, Long is certainly an experienced person in the gaming space.
Theta is also working with investors that include the Sony Innovation Fund, CAA Creative Artists Agency and many other companies such as Samsung Next, among others. This shows that the project is moving forward with fresh investment, working on decentralizing and improving the streaming industry and trying to attract new users that will participate from this network.
Theta is a project that has been growing over the last months pushed by the bullish cryptocurrency market. There are several investors involved in the project and it fastly became one of the top 20 cryptocurrencies. One of the things THETA should pay close attention to is Verasity (VRA), a strong competitor that has been massively growing over the last months.
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