Theta Fuel (TFUEL)
Last Updated: 01/07/2022
Official Website: https://www.thetatoken.org/
What is Theta Fuel (TFUEL) ?
Theta Fuel is the operational token of the Theta protocol. TFUEL different than Theta Token (THETA), so these two should not be mistaken with each other, as TFUEL is the governance token of the Theta blockchain which supported by thousands of community-run Guardian nodes. Theta Fuel in extension to the entire Theta Ecosystem, was co-founded by Mitch Liu ( has long history in gaming industry) and Jieyi Long (CTO) in 2017.
Why introduce a second currency at all?
The utility and purpose of each token can first be distinguished thanks to this. While TFUEL is used to fuel network transactions and operations, THETA is utilized to stake and secure the network. Staking naturally reduces the amount of coin in circulation, thus this is required, but smart contracts and video relay transactions will also call for a highly liquid token that can handle millions of daily transactions.
Second, the use of two tokens is required to address governance problems brought on by the use of a single token for both staking and operations. It would be simpler for a malicious actor to amass a sizable amount of that regularly traded token on the open market because the token used for operations must be liquid. They could potentially endanger the safety of the Theta Network by covertly obtaining a significant amount of the staking token if that same token is also used for staking. That risk is significantly reduced by dividing the two functionalities (staking and operations) into separate tokens
Team
Theta was helped to establish by Mitch Liu and Jieyi Long in 2018. Liu has a long history in the gaming and video enterprises, helping to establish video promoting firm Tapjoy, social gaming startup Gameview Studios, and THETA.tv, the live streaming stage whose DApp was the first to be based on the Theta protocol.
Long is Theta’s subsequent co-founder and CTO, with similar multi-year experience in design automation, gaming, virtual reality, and large scale distributed systems. He was the author of multiple peer-reviewed academic papers and currently has numerous patents in video streaming, blockchain and virtual reality.
Theta presently has a modest group of people working for it, and its official site records key corporate financial investors as Samsung NEXT, Sony Innovation Fund, media investors BDMI Bertelsmann Digital Media Investments, CAA Creative Artists Agency, and conventional Silicon Valley VCs including DCM, Sierra Ventures and the VR Fund.
Where to store Theta Fuel (TFUEL)
Theta Wallet App – App created by the Theta team that lets you to securely store and manage Theta and TFUEL tokens on your phone. In other words, it is a software or hot wallet that stores your private keys on the device. Additionally, this wallet is the official app developed by the Theta Network team and has been successfully added to Google Store as well as Apple Store.
Options to keep your Illuvium (ILV) secure and offline can therefore include the leading hardware wallet providers Ledger and Trezor.
Where to Buy Theta Fuel (TFUEL)
You can Buy & Sell Theta Fuel (TFUEL) by heading over to the Buy Coins page of our website. Theta Fuel (TFUEL) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Tether has never been easier, simply place your order and provide your wallet address.
Once your payment arrives Theta Fuel will be sent directly to your wallet. If you choose to Sell Theta Fuel (TFUEL) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the Sell Coins page.
Theta Fuel (TFUEL) resources:
Website: https://www.thetatoken.org/
Block explorer: https://explorer.thetatoken.org/
Twitter: https://twitter.com/Theta_Network
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.