Theta Fuel (TFUEL), one of the two native tokens on the Theta blockchain, should not be confused with Theta Token (THETA), the governance token of the Theta blockchain supported by thousands of community-operated Guardian nodes and Corporate Validators including Google, Binance, Blockchain ventures, Gumi, and Samsung.
What is Theta Fuel (TFUEL)?
TFUEL is the second token on the Theta blockchain, serving as an auxiliary token in decentralized video and data distribution and acting as a gas token. This means it is used for payments to relayers for sharing a video stream, deploying and interacting with smart contracts, and for fees related to NFTs and DeFi applications on the Theta blockchain.
Additionally, it is used to incentivize users sharing spare computing power as Edge Compute nodes and bandwidth resources as Edge Caching nodes for video streams and other data.
The main use case of Theta is to decentralize video streaming, data distribution, and edge computing, making it more efficient, cost-effective, and fair for industry participants. The network operates on a native blockchain with two native tokens known as Theta (THETA) and Theta Fuel (TFUEL), powering its internal economy.
Theta seems to attract users in three main areas:
- Viewers are rewarded with better quality streaming service
- Content creators improve their earnings
- Intermediaries save on infrastructure costs.
On the other hand, since rewards come in the form of TFUEL tokens, users have an incentive to both watch network content and share network resources.
The platform is open-source, and token holders receive governance rights, as in many Proof of Stake (PoS)-based Blockchain ecosystems. Apart from video and data processing, Theta appeals to developers looking to launch decentralized applications (DApps) like DeFi and NFTs on a fully-featured EVM-compatible smart contract platform.
Where to Buy TFUEL Coin?
TFUEL Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by transaction volume.
To buy TFUEL Coin, one must first sign up for Binance and then send fiat currency. After sending a fiat currency like the the dollar, one can buy TFUEL Coin by purchasing Bitcoin (BTC) and Tether (USDT) in the TFUEL trading pair.
Additionally, on Binance, users can place an order to buy at not only the market price but also at a lower value. This can be done using the Limit tab by entering the amount and price you want to buy at.
