Gaming projects are on the rise in the cryptocurrency market. Many projects aim to bridge the divide in the gaming industry by providing a fair and transparent infrastructure.
Of course, we’re talking about decentralization and blockchains in particular. In the past few weeks, a newcomer managed to break into the Top 10 cryptocurrencies by market capitalization. Meet THETA token, the cryptocurrency that boomed more than 500% in 3 months. In this article, we’re going to analyze what the hell is this project really about.
What is THETA Network?
If you’re into gaming and streaming, you will LOVE Theta Network. Theta is a blockchain specifically built to support video streaming. It operates a decentralized network where participants share bandwidth and computing power through a Peer-to-Peer infrastructure (P2P). This project seeks to compete with the centralized “Big Players”, which are either unfair to the content creators or provide weak ecosystems to the spectators. Theta.Tv is a Dapp that runs on Theta Network, where users can:
- Start Streaming
- Watch Videos and Streams
- Upload own Videos
Users can also be partners, affiliates, and creators. Monetization is much more rewarding than over at the traditional streaming services. The project claims to have the Co-founder of Youtube and Twitch on board as advisers. This plays a vital role in the success of the Theta project, as those advisers come from a similar industry, and can throw all their earned experiences and know-how into Theta.
Is THETA Token on Ethereum?
Although Theta used to be an ERC-20 token, it doesn’t operate on Ethereum anymore. In fact, it operates on its own blockchain now called THETA Network, without the need to rely on Ethereum. Additionally, Theta also has smart-contracts integrated into its blockchain. It also goes the extra mile to employ a multi-level Byzantine Fault Tolerance (BFT) consensus mechanism to balance security with high transaction throughput.
How do THETA Tokens work?
Theta has 2 tokens, THETA and TFUEL:
- THETA is a governance token, that gives its holders power to help shape up the future of the project. The total supply of THETA is 1 Billion tokens pre-mined.
- TFUEL is a way to facilitate transactions on the blockchain. Think of it as “Gas of Ethereum” but for THETA. They are also created in a way to be on a 5:1 ratio with THETA, so there are 5 Billion TFUELs pre-mined.
Can THETA reach $100?
THETA already made a significant price increase. At the beginning of January 2021, the price was around USD 2, and reached within 3 months a current whooping price of USD 13, making more than 500% in this time span. What drove this price up? Well, many “Big Tech” deals and partnerships drive this project onwards. Also, their platform is already up and running, contrary to other gaming projects that are still concepts and ideas. THETA boasts partnerships with the likes of Google, Binance, Sony, Samsung, and many others.
THETA managed to break through the top 10 cryptocurrencies by market capitalization and currently sits at #9 with a market cap of around USD 13 Billion. If THETA’s price was to reach USD 100, its market cap should reach around USD 100 Billion. This scenario is a bit off for the short-term, as currently Binance which boasts a user base of 100 Million active users, currently has a market cap of USD 41 Billion. THETA currently has around 1 Million active monthly users. THETA would need to 10x its user base just to reach a market cap of USD 40 Billion, and a THETA price of USD 40.
How to Buy THETA?
Very easily. Don’t even think about it, you can buy THETA over at BINANCE. This exchange has proven to be reliable, good customer support, a variety of assets, and has THETA! Awesome 😀 Of course, there are other brokers who offer THETA like Huobi Global, OKEx, and Upbit. BUT, Binance’s liquidity is the highest.
Is THETHA a good Investment?
Let’s recap the essential elements of THETA:
- Gaming related (big industry)
- Blockchain (obviously awesome)
- Big tech partnerships (nice)
- Solid advisory board (coming from industry experts)
- Successful timeline (they promise and deliver)
- Already up and running streaming platform (THETATv)
THETA breaking into the Top 10 cryptocurrencies by market capitalization is a no-brainer given the above. The gaming industry is on the rise, and VR integration is a massive component that might bring THETA to new horizons. It is definitely a good investment to look into, and make part of your portfolio.
Stay Ahead, Stay Updated
The post THETA Token EXPLODES +500% and breaks the TOP 10…BUY NOW? appeared first on CryptoTicker.