Theta Fuel is the utility token of the Theta platform and protocol. Assigned as the network's transaction token, gas fees are paid in TFUEL. Theta Fuel is used to pay relayers for live streaming, video sharing on the Theta network. It is paid when adding smart contracts to the network, interacting with smart contracts in the network. The Theta platform can be donated to broadcasters on Theta.tv, used when purchasing items from the Theta store. At the same time, mining can be done with staking for a minimum of 10,000 and a maximum of 500,000 TFUEL. Protector, relay, and validator nodes earn TFUEL as block reward.
The main coin of Theta platform is Theta, and the second token is Theta Fuel.
On the Theta platform, Tencent director Ryan Nichols is the CPO, Gameview Studios co-founder Mitch Liu is the CEO, and Jieyi Long, who has a PhD in computer engineering, is the CTO. While offering videos and live broadcasts on the Theta platform, a much lower cost is required compared to other platforms. Content providers, ie publishers, can create dApps on the network. While watching the broadcasts, the viewers can share their bandwidth and internet resources if they wish, and in return, they earn TFUEL, albeit very low. Thanks to the audience sharing their resources, live broadcasts can be made with very high resolutions such as 4k and 8k. Earned TFUELs cannot be withdrawn from Theta.tv platform and cannot be spent anywhere else.
TFUEL has a market cap of $1.4 billion and is the 72nd most valuable cryptocurrency. While there are 5,301,214,400 TFUELs in circulation, there are 5,301,214,400 TFUELs in total.