💫 About

What is this network?

The Theta Network is a next-generation media and entertainment-focused blockchain. It enables existing video and media platforms to drive incremental revenues and reduce content delivery CDN costs while rewarding end-users for sharing their storage and/or bandwidth on any PC, mobile, Smart TV, or IoT device. The network supports Turing complete smart contracts and is fully compatible with Ethereum, enabling a wide range of Web3 applications to be built on it. The Theta Network consists of two complementary subsystems, the Theta Blockchain and the Theta Edge Network. The Theta blockchain provides payment, reward, and smart contract capabilities, while the edge network is responsible for the storage and delivery of media assets like images and videos.

How can I mine tokens?

Theta Network uses a proof-of-stake (PoS) consensus mechanism, which means that tokens are not mined in the traditional sense, but are earned through staking. There are two ways to stake on the Theta Network: Guardian Node and Edge Node.

To become a Guardian Node, you need to stake a minimum of 10,000 THETA tokens. Guardian Node stakers earn a higher percentage of rewards than Edge Node stakers. To stake as an Edge Node, you must have a minimum of 1,000 THETA tokens. Both Guardian Node and Edge Node stakers are rewarded with additional THETA tokens for supporting the network. The rewards are distributed every week and are based on the amount of THETA being staked and the length of time the tokens have been staked.

How can I optimize my mining rewards?

To optimize your staking rewards on the Theta Network, you should consider the following:

  • Stake more THETA tokens: The more tokens you stake, the higher your potential rewards.
  • Stake for a longer period: The longer you stake your tokens, the more rewards you will earn. There is a minimum staking period of 3 days, so you will not receive any rewards if you unstake your tokens before the 3-day period is up.
  • Choose the right node: Guardian Nodes earn a higher percentage of rewards than Edge Nodes, but they require a larger amount of THETA tokens to be staked.

How can I use the network?

You can use the Theta Network in several ways:

  • Share your unused storage and bandwidth on any PC, mobile, Smart TV, or IoT device and earn TFUEL tokens.
  • Stake THETA tokens to become a Theta validator or guardian node and earn rewards for your contribution.
  • Use the Theta blockchain-based reward system to access premium content.
  • Developers can create decentralized applications on the Theta blockchain.

Who governs this network?

The governance of the Theta Network is managed by its enterprise validator and governance council, which is led by global leaders including Google, Samsung, Sony, Creative Artists Agency (CAA), Binance, Blockchain Ventures, DHVC, and gumi. However, it's important to note that only enterprise validator nodes can participate in the governance of the Theta Network, which centralizes the control process.

Funding

The Theta Network conducted its first THETA token sale in January 2018. The Theta Network mainnet went live in March 2019. The next version of the Theta mainnet was introduced in May 2020 that added a two-layered consensus mechanism to the Theta blockchain introducing Guardian and Validator nodes. Mainnet 2.0 also launched Theta Edge Network, Theta's peer-to-peer video streaming infrastructure.

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