TFUEL (or Theta Fuel) is the second token on the Theta blockchain that serves as a utility token in decentralized video and data delivery, and also acts as token from gas.
This means that it is used to drive all operations on the Theta blockchain, but mostly as payments to broadcasters for sharing a video feed, to implement and interact with smart contracts, and as fees associated with the transaction of NTF and DeFi applications.
It is the cryptocurrency that the spokesperson of United We Can, Pablo Echenique, has come for a value of 5,575 euros, as recorded in his last declaration of assets sent to Congress.
a token Gas refers to the amount of ethereum (the second most important cryptocurrency after bitcoin) that must be paid to miners to process transactions on the network.
Theta Fuel, like the entire Theta ecosystem, was co-founded by Mitch Liu and Jieyi Long in 2017. Both experts in the online gaming, video and virtual reality industry.
Theta is backed by thousands of community-managed Guardian nodes and their enterprise validators, including Google, Binance, Blockchain ventures, Gumi, and Samsung.
The main use case for Theta is the decentralization of video streaming, data delivery, and edge computing, making it more efficient, cost-effective, and fair to industry participants. The network runs on a native blockchain, with two native tokens, known as Theta (THETA) and Theta Fuel (TFUEL).
With TFUEL viewers are rewarded By a better quality streaming service, content creators improve their profits and intermediaries (video platforms) save money on building infrastructure and increase advertising and subscription revenue.
Users receive an incentive for both viewing network content and sharing network resources, and these rewards come in the form of TFUEL tokens.
Used as payment for users on the network, it hardly varied in price during its first years, and this was symbolic: around $ 0.005, not reaching $ 0.01 until the end of last year.
In a very striking rise, it reached all-time highs above $ 0.60 in June and although it is now trading at around 0.30, with only a 25% drop in the last week, the profit in the year is around 900%.
According to experts, as smart contract features are activated and allow the creation of NFTs (virtual assets), the Theta ecosystem appears to be well positioned to attract new users, which has the potential to make THETA, and for so much TFUEL, go up to higher levels.
There are currently 5,232,675,200 TFUEL coins in circulation. Its current market capitalization is around $ 1.7 billion, making it the cryptocurrency number 71 on the CoinMarketCap listing.