What is Theta Fuel (TFUEL)? Latest information about TFUEL

In the context of rapidly developing streaming technology, Theta Network emerges as a pioneering blockchain solution for optimizing video content distribution. So what is TFUEL? Let's explore this with Allinstation through the article below!

What is Theta Fuel (TFUEL)?

Theta Fuel (TFUEL) is the utility token of Theta Network – a blockchain platform specialized in decentralized video streaming. TFUEL plays a role similar to "gas" in Ethereum, used to pay for transactions, deploy smart contracts, pay for video streaming services, and reward users who contribute network resources.

While the THETA token is used for staking and network governance, TFUEL is used for all on-chain activities. This helps separate network security functions from daily operations, creating a more sustainable ecosystem.

How Does the Project Work?

Theta Network uses a two-token architecture model (THETA and TFUEL) combined with a Multi-Level BFT (Byzantine Fault Tolerance) consensus algorithm. In which:

• Users stake THETA to become Validator or Guardian Node, helping to validate and protect the network.
• Actions such as watching videos, sharing bandwidth, temporarily storing content... will be rewarded with TFUEL.
• TFUEL is also the only token used to pay fees for smart contracts, NFT transactions, and DeFi activities on Theta.

The Role of TFUEL in the Theta Network Ecosystem

In the Theta Network ecosystem, TFUEL (Theta Fuel) acts as the "fuel" that operates all activities on the network. If THETA is the token used for staking and network governance, then TFUEL is the tool that executes transactions, deploys services, rewards participants, and operates entire dApps.

Here are the main roles:

Transaction Fee Payment

TFUEL is used to pay for all types of fees on the Theta blockchain, including:

• Token transfer fees
• Smart contract deployment and call fees
• Fees for minting or trading NFTs on ThetaDrop
• Processing fees when using DeFi applications or digital content services

Using TFUEL as the primary payment unit helps separate operating costs from the THETA governance token, creating higher flexibility for users.

Rewards for Network Participants

Users can earn TFUEL through the following methods:

• Running Edge Node: Sharing bandwidth, storage capacity to support decentralized video distribution.
• Watching or streaming on Theta.tv: Receive TFUEL as a reward for contributing to the ecosystem.
• Staking THETA: Those who stake THETA in Validator/Guardian Node will receive rewards in TFUEL.

This encourages users to contribute resources and maintain network operations in a decentralized manner.

Smart Contract Operation

TFUEL is the only unit used to:

• Deploy and execute smart contracts on Theta (e.g., NFTs, auctions, video copyright distribution...)
• Interact with dApps and other automation logics in the network

This makes TFUEL core to Theta's expansion into areas like Web3, GameFi, and Metaverse.

Token Burning to Combat Inflation

Each transaction in the Theta network requires a small amount of TFUEL – part of which will be permanently burned, creating downward supply pressure and maintaining the token's long-term value, despite TFUEL's unlimited total supply.

Bridge Between Users and Applications

TFUEL acts as an intermediary payment for:

• Users using video services
• Developers deploying applications
• Digital asset transactions like NFTs, tokens

Without TFUEL, users cannot use any functions on the Theta network – from transactions to staking, from video watching to NFT shopping.

In summary, TFUEL is a crucial element in the actual operation of Theta Network. It is not just a transaction medium, but also an incentive tool, reward, and platform for Theta's Web3 application ecosystem.

Basic Information about TFUEL Token

• Token Name: Theta Fuel
• Trading Symbol: TFUEL
• Blockchain: Theta
• Circulating Supply: 6,962,085,422 TFUEL
• Total Supply: 6,962,119,716 TFUEL

Conclusion

TFUEL is an indispensable utility token in the Theta Network ecosystem – a blockchain specialized in streaming and media. By clearly separating the roles between THETA (staking & governance) and TFUEL (transactions & operations), Theta is building an efficient, practical, and decentralized platform for the video industry.

Despite facing some barriers such as low popularity, with the participation of many major partners and practical applications.

The article is for reference only and is not investment advice!