What is Theta Fuel?
Theta Fuel (TFUEL) is a cryptocurrency token created by the Theta Network, an open-source blockchain-based video streaming platform.
It is used to power the Theta Network and incentivize users to share their bandwidth and resources to improve the network’s performance. The Theta Network was launched in 2018 with the goal of providing a decentralized video streaming platform that would be more efficient than existing centralized solutions. It uses a unique consensus mechanism called “Proof of Engagement” which rewards users for sharing their bandwidth and resources with other users on the network.
This helps to ensure that the network remains secure and reliable. The Theta Fuel token is used as a reward for users who contribute to the network by sharing their resources, as well as for transactions on the platform such as tipping content creators or buying virtual goods. It can also be used to pay for transaction fees on the network, which helps to keep costs low for users.
The Theta Fuel token has seen significant growth since its launch in 2018, with its market capitalization increasing from $2 million in January 2019 to over $1 billion in April 2021. This growth has been driven by increased adoption of the Theta Network and its associated services, as well as increased demand for TFUEL tokens from investors looking to benefit from its appreciation in value.
