What is Theta Fuel?
Theta Fuel (tokens: TFUEL) is a cryptocurrency created from Theta Token (THETA) network after successfully launching the mainnet on March 15, 2019. TFUEL coin will work in tandem with THETA on Theta protocol.
Theta Fuel powers the network by incentivizing users to share content with each other, and TFUELs are burned when users deploy or interact with smart contracts.
What is the project trying to achieve?
Theta Fuel (TFuel) is one of two native tokens on The Leta Blockchain. TFuel should not be confused with the theta token (theta), the governance token of The Theta Blockchain backed by thousands of community custodian nodes and its enterprise validators Including Google, Binance, Blockchain Ventures, Gumi, and Samsung.
TFuel is the second token on the theta blockchain that serves as a utility token in the decentralized distribution of video and data, it also acts as a token gas. This means it is used to power all activities on the theta blockchain, like paying relayers for sharing video streams, deploying and interacting with smart contracts, and as charges associated with NTFS and Defi applications.
In addition, it is also used to incentivize users in the ecosystem to share their redundant compute power as edge compute nodes and bandwidth resources in the form of edge buffers for video streams and other data.
What is unique selling point?
TFUEL serves as a means of payment for transactions, such as setting up caching or interaction nodes and creating smart contracts. However, TFUEL can also be earned e.g. by staking THETA or by providing caching power to other users or interacting with the Theta.tv platform.
Streamers are content producers in the network and they will have a chance to earn TFUEL tokens. For instance, they receive TFUEL on theta.tv for their work through donations from viewers.
Viewers of videos streaming via Theta platform will also have a chance to win TFUEL rewards
Advertisers use TFUEL to pay for advertising their products on the platform.
Validating nodes when staking THETA tokens will be rewarded with TFUEL, which shows that TFUEL is preferred for the purpose of using and operating the Theta network.
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