A good way to understand Theta Token (THETA) is to check out its live, working product, a streaming service: SLIVER.tv, its first dApp made for the protocol that taps into an existing user base of millions of e-sports fans/viewers (partnership with Tencent Games).
What is it then? Put simply it’s an open source protocol that drives a decentralised streaming network. Open-source means that more developers can build new dapps related to streaming or entertainment services.
An Incentivised Network
Primarily you can stake THETA to form part of the network, lending your own computer resources to help to power the streaming service. The more nodes; the more powerful the network becomes. You’re then rewarded with Theta Fuel (TFUEL). How do you set this up, and start earning some passive income in crypto from your existing computer resources? Medium is the best place to get all information.
TFUEL is like the ‘gas’ of the protocol, and will also be traded on exchanges. This is the token that can be earned by staking THETA and running a node (read more).
THETA is more the governance token, but together they function to secure the network.
You can also earn and spend THETA tokens currently on the Sliver.tv site (visit the store) or by rewarding your favourite streamers.
Use cases enabled by the protocol: E-sports, peer-to-peer streaming and entertainment. One can see Netflix-rival dapps emerging.
The Theta Mainnet launched in March 2019. Holders look to receive and amount of TFUEL for every THETA.
Founders include advisors Steve Chen, Co-Founder of YouTube, and Justin Kan, Co-Founder of Twitch, both major global streaming services.
If you believe in the future of decentralised streaming services then this coin would be worth picking up at a low price (again). The value in holding some would be for related purchases on its dapps/websites, or exchanging for better price into Bitcoin or fiat, and for staking into the platform.
Why shouldn’t you believe in this future? The token will be key in enabling powerful bandwidth to become available, but it’s early days. Can Theta Token network challenge Youtube and Netflix? There are already streaming services emerging on blockchain like View.ly and Dtube (Steem Blockchain).
Netflix meanwhile is a centralised company that is a closed system and without the potential for creative development or an ecosystem of dapps to emerge.
Buy THETA on Binance (it was added in May 2018)
March 2019 (revised slightly Sept 2019).
Note: This entry forms part of my personal adventures in crypto-space. Comments, ideas and corrections really appreciated to enhance my site and help me educate/be educated.