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About Wrapped TFUEL
Key Points:
- Theta Fuel (TFUEL) is the utility token on the Theta blockchain.
- TFUEL is used for decentralized video and data delivery, smart contract interactions, and NFT transactions.
- Co-founders: Mitch Liu and Jieyi Long.
- Theta’s main use case is decentralizing video streaming, data delivery, and edge computing.
- 5,232,675,200 TFUEL coins in circulation, growing each year through staking rewards.
- Theta Tokens (THETA) are fixed at 1,000,000,000 in circulation.
- Theta uses a proof-of-stake consensus algorithm with a multi-level
Introducing Wrapped TFUEL: A Token of Innovation
Introducing Theta Fuel (TFUEL): The Proprietary Token Powering the Theta Network
Theta Fuel (TFUEL) is one of the two native tokens on the Theta blockchain, distinct from Theta Token (THETA), the governance token that empowers the Theta ecosystem, supported by a vast network of thousands of community-run Guardian nodes and esteemed Enterprise validators, including Google, Binance, Blockchain ventures, Gumi, and Samsung.
TFUEL, the utility token on the Theta blockchain, plays a pivotal role in facilitating decentralized video and data delivery. Additionally, it serves as a gas token, empowering all operations within the Theta ecosystem. This encompasses payments to relayers for sharing video streams, deploying and interacting with smart contracts, as well as fees associated with transacting NFTs and DeFi applications.
Furthermore, it serves as a motivational tool for users within the ecosystem, encouraging them to contribute their surplus computing power as Edge Compute nodes and bandwidth resources as Edge Caching nodes, thereby facilitating the efficient distribution of video streams and other data.
The Visionaries Behind Theta Fuel: Meet the Founders
Theta Fuel, and by extension, the entire Theta Ecosystem, was co-founded in 2017 by Mitch Liu and Jieyi Long, a duo with a profound impact on the industry. Notably, Liu boasts an impressive track record in the gaming, video, and virtual reality sectors, having co-founded Tapjoy, a pioneering video advertising firm, Gameview Studios, a trailblazing mobile social gaming startup, and THETA.tv, a live streaming platform whose decentralized application (DApp) had the distinction of being the first to be built on the Theta protocol.
Jieyi Long, Theta’s esteemed co-founder and Chief Technology Officer, brings a wealth of experience garnered from multiple years of expertise in design automation, gaming, virtual reality, and large-scale distributed systems. As a prolific researcher, he has authored numerous peer-reviewed academic papers and holds a portfolio of patents in video streaming, blockchain, and virtual reality.
Theta boasts a burgeoning team, with its official website proudly listing an impressive roster of strategic corporate investors, including esteemed entities such as Samsung NEXT, Sony Innovation Fund, media investors BDMI Bertelsmann Digital Media Investments, CAA Creative Artists Agency, and prominent Silicon Valley VCs, namely DCM, Sierra Ventures, and the VR Fund.
Unveiling the Unparalleled Attributes of Theta Fuel
Theta’s primary application lies in decentralizing video streaming, data delivery, and edge computing, thereby rendering the process more efficient, cost-effective, and equitable for all stakeholders within the industry. The network operates on a native blockchain, fueled by two native tokens, namely Theta (THETA) and Theta Fuel (TFUEL), which drive the internal economy.
Theta’s trifecta of benefits is undeniable: viewers are treated to superior quality streaming services, content creators enjoy enhanced earnings, and middlemen – namely, video platforms – reap significant cost savings on infrastructure development while boosting advertising and subscription revenues. By incentivizing users to engage with network content and share their resources, the platform rewards them with TFUEL tokens, fostering a mutually beneficial ecosystem.
The platform boasts an open-source architecture, empowering token holders with governance authority, akin to many proof-of-stake (PoS)-based blockchain ecosystems. Beyond video, data, and computing, Theta also caters to developers seeking to deploy decentralized applications (DApps), including DeFi and NFTs, on its comprehensive EVM-compatible smart contract platform.
What Is the Circulating Supply of Theta Fuel (TFUEL) Coins?
As previously stated, the Theta ecosystem comprises two distinct coins: THETA and TFUEL. While both coins facilitate interaction on the Theta blockchain, they serve disparate purposes.
Currently, the circulating supply of TFUEL coins stands at 5,232,675,200, with this number incrementally increasing annually as new TFUEL is generated as staking rewards. In contrast, the supply of Theta Tokens is capped at 1,000,000,000, which is the maximum amount in circulation, and will remain fixed, with no potential for future growth.
Theta operates on a proof-of-stake algorithm, thereby facilitating staking capabilities. Notably, the total supply of THETA in circulation represents the maximum amount that will ever exist. Consequently, TFUEL serves as the reward for staking on the network. To be eligible for staking, a minimum of 1,000 THETA must be staked to a Guardian Node or, alternatively, one can operate their own Guardian Node.
The Theta Network’s Security Mechanisms: A Robust Defense
The Theta Blockchain employs a proof-of-stake consensus algorithm, which is further augmented by a multi-level Byzantine Fault Tolerance (BFT) consensus mechanism, thereby ensuring enhanced security and elevated transaction throughput on its blockchain.
Upon the launch of Theta Mainnet in March 2019, the innovative concept of Guardian Nodes was introduced. This pioneering approach ensures that no single entity can dominate the staking of THETA tokens, thereby fostering a decentralized network. Consequently, the network is empowered to achieve an impressive transaction throughput of over 1000 TPS.
Theta employs a novel financial incentive mechanism to encourage user engagement in governance activities, thereby ensuring the integrity of its network is safeguarded by its own community of users.
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