An Overview of the THETA Blockchain’s Mechanism, Tokenomics
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Theta Network is a blockchain platform for the media and entertainment industry. It allows video and media platforms to lower their content delivery CDN costs, earn more revenue, and reward end-users for sharing their storage and bandwidth on any device, such as a PC, mobile, Smart TV, or IoT device. Source: thetatoken Theta supports smart contracts that can do anything, and it works well with Ethereum, making it possible to create many Web3 applications, such as NFTs, DEX/DeFi, and DAOs, for the new generation of media and entertainment platforms. Theta Blockchain Mechanism Theta Blockchain has a two-layer consensus mechanism that is Byzantine Fault Tolerant (BFT). It combines a group of 20-30 enterprise validator nodes with another layer of thousands of guardian nodes run by the community. Validator nodes develop and complete new blocks in the chain, on the other hand, guardian nodes observe over them and prevent them from being bad or broken. This technique creates the Theta Blockchain very decentralized, and the thousands of guardians create it extra securely. The Theta Blockchain can endure 1,000 transactions per second, and its consensus mechanism is fast, green, and without any carbon footprint. The Theta blockchain also sustains smart contracts that can allow digital ownership, new ways of paying and consuming, equitable distribution of royalties, trustless crowdfunding, and considerably more. The Theta Virtual Machine is compatible with the Ethereum Virtual Machine, making it comfortable for contracts that operate on Ethereum to function on Theta too. This means thousands of smart contract developers can efficiently start building on Theta, using its growing user and capital base. Theta Metachain Theta Metachain is a concept that Theta Labs announced in April 2022, and it plans to launch it on Dec 1, 2022. It is a network of blockchains that connects to each other, a “chain…
Filed under: News - @ November 29, 2023 3:18 am