Blog Crypto Theta Coin Review: The New Robin Hood?

Theta Coin Review: The New Robin Hood?

date April 8, 2022 time 5 min read 500 views

As a medium, few are more powerful than videos and motion pictures, but did you know it can be decentralized? Theta network aims to do just that and offer buffer-free videos, accessible to everyone. We’ll take a look at that and review the theta coin.

Theta coin review

Theta is one-half of the dual native cryptocurrency and utility token used to power the Theta Network. Together with its counterpart, tfuel, this highly complex multifunctional dual-token system ensures the network’s smooth operation and continued blockchain development. 

The Theta Network is a novel decentralized video content delivery network based on blockchain technology. It’s designed to democratize streaming by making it more accessible for content creators and rewarding for viewers.

Theta network aims to do just that and offer buffer-free videos, accessible to everyone.
Theta network aims to do just that and offer buffer-free videos, accessible to everyone. (Source: Thetatoken.org)

Theta Network provides innovative solutions that benefit both content creators and consumers. Its founders seem to have their work cut out for them as current streaming giants will prove stiff competition.

Theta coin usage

The Theta Network is powered by two cryptocurrency assets that make up its economic system: theta and tfuel. 

Theta coin’s core function is to ensure the network’s security and continued development by rewarding consumers and network node providers for sharing resources and helping to boost the platform’s performance level. The coin grants its holders governance rights and the opportunity to earn staking rewards in the form of tfuel.

Tfuel, on the other hand, serves multiple purposes within the network. Aside from its role as the primary utility token in the Theta network, it’s also the primary incentive to encourage users to share their redundant computing and bandwidth resources as caching or relay nodes for video streams. You can think of tfuel as the ‘gas’ of the network.

You can also trade theta coin like any other cryptocurrency in the market. Traders profit based on the difference between the buying and selling prices. You can also hold it as a store of value while earning tfuel as interest in the meantime.

Theta coin price history

The ambitious founders ditched the common ICO launch path and opted for a private sale in which they raised about $20 million. At this time, theta was launched as an ERC-20 token on the Ethereum Network, a prequel to Theta Network’s mainnet launch in 2019.

Theta coin started trading in major exchanges in January 2018 at $0.20. In a matter of days, it reached a peak of $0.29, only to fall to a low of $0.12 a week later. The coin struggled to reach its earlier peak and managed to hit it about four months later, in May 2018.

It was a case of deja vu for early investors who watched the price hit its peak only to drop to its lowest price yet for the second time. Theta coin price seemed to be on the upward trajectory after its mainnet launched in March 2019, but it dropped steadily until it hit its all-time low of $0.04 two years later, in March 2020.

The news of Theta Network’s partnership with Samsung caused the price to surge from $0.04 to $0.41.
The news of Theta Network’s partnership with Samsung caused the price to surge from $0.04 to $0.41. (Source: Coinmarketcap)

The news of Theta Network’s partnership with Samsung caused the price to surge from $0.04 to $0.41. Theta coin price maintained a positive growth trajectory until it spiked and reached its all-time high of $15.90 in April 2021.

Today, theta coin price is $3.86. With a 24-hour trading volume of over $256 million on Coinmarketcap and a market cap of $3.8 billion, theta coin currently ranks 42 among the most prominent cryptocurrencies ranking by market cap.

Some of the feedback bolstering investor confidence in the Theta Network include its backing by Samsung, which runs one of Theta’s enterprise validator nodes along with Google and Sony, among others, and the strategic developments aimed at actualizing its roadmap.

Where to buy theta coin

Theta coin is a freely-tradable token on major exchanges like Binance, Uphold, Gate.io, and WazirX with good liquidity. 

You can store theta coin in wallets like My Ether Wallet, Atomic Wallet, Trust Wallet, Ledger, Trezor, etc. Some people leave their coins in cryptocurrency exchanges. We generally do not recommend that due to the risks involved. Although there are crypto wallets to keep your assets safe on the market. Hardware wallets are the safest way to store your cryptocurrency assets.

Note that digital currencies can be volatile, and buying them can be risky. While theta will always have utility in the network, its price denominated in fiat currency may change, and you could lose significant value.

A strong indicator of projects that tend to do well is the quality of their founders and advisory board. Theta isn’t lacking in this department. The decentralized streaming network was founded in 2017 by Mitch Liu, a serial entrepreneur who previously co-founded mobile gaming and online advertising startups, and Jieyi Long, an expert on virtual reality and live streaming technologies.

The Theta Network’s advisory board boasts of reputable members, including Twitch co-founder Justin Kana, YouTube co-founder Steve Chen, and several Verizon senior executives.

What is the Theta Network?

As a purpose-built decentralized video content delivery network to improve streaming quality and democratize streaming, the Theta Network truly has content creators and consumers at the forefront of its innovative solutions.

With streaming giants like YouTube and Netflix serving as gatekeepers who set the terms for content creators and control the content consumers have access to, Theta disrupts the scene with its network. 

The redistribution of power

Theta’s introduction of a video streaming network primarily powered by its users who share bandwidth and computer power on a peer-to-peer basis redistributes power to content creators and consumers. Content creators have more control over their payment models and direct interaction with their consumers, while consumers enjoy lower prices and flexible options.

The decentralized peer-to-peer mechanism incentivizes consumers to share their resources and earn tfuels. This, in turn, improves the quality and accessibility of high-definition videos globally. Consumers no longer have to rely on centralized content delivery networks that offer varying streaming experiences, depending on location.

Theta secures and maintains the network using a proof-of-stake consensus mechanism based on staking. Participants lock in large amounts of theta coins to gain the right to process transaction blocks. 

These participants that power the Theta Network are known as nodes, and their designations vary. From enterprise validator nodes that process transactions to guardian nodes in charge of maintaining consensus by securing validation at predefined points and edge nodes that allow users to relay video streams and share their bandwidth for streams and get rewarded with tfuel for supporting the network.

The Theta Network is currently in a league of its own, and the future looks bright in Web3. The network needs to stay focused because there will be pushbacks from those threatened by Theta’s core driving force.

Buy Theta Coin with MyConstant loans

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George Schooling

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