cryptocurrency tutorial

how to stake theta token

Fit network is an innovative cryptocurrency project that’s looking to leverage the power of blockchain to deliver reliable fast and cheap video streaming services unlike any available before

the project is partnered with several big industry names, but also allows for literally anybody to run a node eight the functionality of the network and earn a little passive income along the way.

Sounds great, right?

  • what is theta and how this network operates
  • a few different options that users have for running their own node and beginning to get returns.

Lastly, we’ll expand our view to look at some options for both delegated staking as well as touch on liquidity providing.


how decentralized video streaming is possible and how can profit from it

Let’s begin by exploring just what theta is offering. The theta network is building a video delivery platform all powered by blockchain in the hopes of benefiting both users as well as the companies who provide streaming content.

theta network

theta allows users to watch videos as well as earn token rewards for relaying that content to others who are watching the same thing.

users don’t have to share their bandwidth in order to access content, but instead, they can choose to opt in to volunteering their spare resources to transmit the data to others. In return, they earn passive income in the form of theta fuel, aka tea fuel for their help.

T fuel is the second token in addition to theta that’s used to run the network. Think of T fuel is kind of like gas on a ethereum. And it’s also T fuel, that’s the easier of the two assets to earn.

To do so users can access and support data streaming service called theta.tv on virtually any PC or mobile device

theta tv

those of you who have been learning about blockchain technology with us maybe wondering at this point, how it’s possible that a decentralized peer to peer network could possibly offer streaming high quality video at speeds that compete with legacy offerings. Well, they did accomplishes this with three separate tiers of network nodes, only one of which transmits the video data.

theta nodes

The others provide both the incentive to participate as well as overall network security.

The three tiers are represented by three types of nodes known as enterprise validator, nodes, Guardian nodes, and edge nodes, we’re going to take a look at each now as well as what opportunities they offer for users to start earning theta or T fuel.

First up are the enterprise validator nodes. These nodes basically do the heavy lifting of proposing and creating new blocks, which is what forms the core of the network.

Note that these notes are highly centralized and operated by large business partners. At the time of this video, there has 16 of these nodes online being run by partners such as Google blockchain ventures, Samsung, Sony, Europe, finance, gumming cryptos, and of course, data labs.

Ultimately, theta is hoping for around 30 Enterprise nodes to be online, managed by similarly big names and providing the high speed basis for the rest of the network.

Seeing as this tier is specifically aimed at industry leaders, the vast majority of our viewers won’t be running one of these.

So let’s move on crypto purists will at this point be decrying that sacrificing decentralization for speed can be a slippery slope.

If nothing else, how can we be sure that the handful of enterprise nodes won’t collude against the interests of the users?

The answer is that we can’t at least not inherently, so they just designed so that users don’t have to. Guardian nodes are the next layer on this network can be run by literally anyone, and currently number in the 1000s or enterprise nodes create blocks, Guardian nodes confirm or seal blocks. Basically, they all provide independent consensus that the blocks coming from the top layer are valid in this way. Even if multiple companies colluded to alter the blockchain, the much larger system of Guardian nodes would see it and prevent it.

Running a guardian node is one way that general users can begin earning rewards. Guardian node operators can stake data and in return earn to fuel this can be a fairly profitable option for those with sufficient resources.

However, our viewers should be aware that there’s a bit of an upfront cost and this path won’t work for everyone.

For one, the minimum specifications for running a guardian node are a 5 Mg internet speed for both uploading and downloading, as well as a computer with at least 4 CPU cores and 8 gigabytes of RAM. Admittedly, the specs aren’t too intense. However, not all areas have access to quality internet and dedicating a decent computer to become a node isn’t something everyone can do.

However, there’s one more significant hurdle on top of all of this. And that’s the fact that the minimum amount of data required to stake on a guardian node is 1000. When the network first launched, this wasn’t so unreasonable as the price of data was much lower.

Hence, this choice is probably best for those who either already bought a significant amount of data at some point in the past, or those who have a lot to invest upfront before seeing any return.

final layer of the theta network or the edge nodes

these nodes are the ones that actually move the data and allow for the access to distributed video streaming. Currently these nodes number at well over 100,000

Again, anyone can download the software and run their own node. And doing so means that a portion of your bandwidth and computer resources will be used to transmit video or any other data on the network. The incentive for doing so is again to

fuel, which will be earned by anyone running an edge node. users don’t need to have any data or T fuel to get started as you earn simply for participating.

This may be the most realistic way for the majority of users to get involved. It’s also fairly non technical, simply download and install the client and activated on the network and you’ll begin earning T fuel. Additionally, you can use this software to both watch content from the theta.tv network as well as broadcast your own.

So it really is an all in one platform for engaging with data. We should also quickly mention that anyone can additionally earn t fuel just for watching content on the theta.tv website, even without any type of node.

This is great, but just be aware that at this time, T fuel earned in this fashion cannot be moved off of the theta.tv platform.

However, it can be used to tip content creators as well as in the theta.tv online shop.

Back to staking though, thanks to the reason 3.0 upgrade, edge node operators can also stake their tea fuel to become an elite edge node, which allows them to earn additional passive income in the form of more tea fuel. However, once more there is a catch.

Right now the minimum state to become a lead is 10,000 tea fuel, given that tea fuels around 30 cents at this time, this option is still cheaper than staking theta on a guardian node, but may nonetheless be a bit rich for some users.

There’s one more way to stake on theta if you don’t want to run a node and that’s delegated staking.

delegated staking means trusting your data to another party to stake on your behalf. It’s common for many staking coins because it alleviates the user from the burden of doing it themselves.

For those who want to go this route, there are a few options the most official one being the theta web wallet. As the name implies, this site can act as a web powered storage solution for your data can also be an interface for a guardian node for users who run one.

However, it additionally allows users to delegate their data to verified Guardian nodes that will stick on their behalf. Unfortunately, users still need to put up a minimum of 1000 data to get started.

So it only solves the need for the actual node but not the high buy in price. Then there’s a service called g pool. g pool is fairly popular and again allows for theta as well as T field staking for those who don’t want to do it themselves.

yes, again, the minimum stake for both are enforced. But this does offer another simple way for users with enough resources to get staking in just a few clicks.

Unfortunately, those are about it for your options for delegated staking, so there’s currently no easy way to get around the rather high by ends. That being said, many users may find that running their own edge node and earning tea fuel that way, maybe a solid place to start. And they can always upgrade when they’ve accumulated enough tokens. One last way you could earn passive theta or tea fuels through liquidity providing on the theta network.

This is a different type of staking as you’re not supporting the blockchain itself, but instead offering your assets for a decentralized exchange like theta swap. The upside here is that there isn’t really a minimum buy in. So it’s one of the only ways that users with smaller amounts can easily put their assets to work.

The process works a lot like it does for platforms like uniswap

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