Theta price rally raised many eyebrows in 2021! Yes. The altcoin showcased a magnificent price surge by gaining more than 1300% growth.
This is an innovative platform that aims to work for the streaming sector providing technical and economic solutions for decentralized video streaming. Currently ranking within the top 20 cryptocurrencies, here is everything you must know about the Theta Price prediction for 2021 and beyond!
Theta Network incentivizes its users who relay videos on the platform on their spare bandwidth. As this year the platform witnessed growth in the user base, resulting in widening of the bandwidth. For smooth functioning of the Theta Network, the platform rolled out two cryptocurrencies, THETA coin, used as a utility token to vote for the betterment of the network, and TFUEL, to execute transactions.
After a brief introduction of Theta Network, now let’s move on to the insights of the altcoin. The price rally has attracted many nowadays and hence the further price movements are in the spotlight. If you are thinking of holding some THETA Coins Price but unsure about the future price movements, then this piece of writing would help to answer all your queries.
What Is the THETA Coin?
The THETA Coin is a utility token of the Theta Network founded by Mitch Liu and Jieyi Long in 2018. The team held a private token sale and sold 30% of 1 billion THETA coins raising $20 million.
The coin can be staked by the validators nodes or guardian nodes. It also allows nodes to validate transactions, produce blocks, vote on the betterment of the network and also earn TFUEL as rewards. The network users can download the official Theta Wallet to hold or stake THETA and TFUEL tokens. The wallet is also powered by a micropayment system. It is the one that enables the content viewers and creators to send and receive the tokens.
The network follows the Proof of Stake mechanism which is also called Multi-Level BFT, them. But, What’s so special about this? It lies in the fact that, Unlike the proof of work, this consensus method works at a higher speed. Theta achieves rapid speed by limiting the node users.
A front-line group of nodes which they call the Validator committee works on every transaction first. Following which they approve and it reaches the second set of nodes, which consists of thousands of users and called the Guardian pool. Further validation from this group will let the transaction reach its blockchain.