Theta Mainnet 3.0: Introducing TFUEL Staking and Burning

This article was first published on Stories by Theta Labs on Medium
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We’re thrilled to announce the next generation Theta blockchain: Theta Mainnet 3.0 projected to launch in the Spring 2021 will introduce TFUEL staking and burning. The full Mainnet 3.0 whitepaper can be found here.

Background

Theta Labs launched its native blockchain purpose-built for peer-to-peer video delivery in the Spring of 2019. With Mainnet 2.0 in May 2020, we introduced Guardian nodes, a revolutionary, two layer consensus mechanism to complement Enterprise validators run by a premiere set of global partners including Google, Samsung, Binance, Blockchain.com, and Gumi.

Following Mainnet 2.0, the capability of the Theta Edge Node network was significantly enhanced with the release of Theta’s peer-to-peer “EdgeCast” technology. This new fully decentralized technology stack adds the ability to capture live video, transcode it in real-time, cache and relay live stream video data to users globally — all through Theta’s P2P edge network run by thousands of community members. Not a central server or service is used in this pipeline.

Additionally, the long-awaited Turing-complete smart contract support will be enabled on the Theta Blockchain Mainnet on December 10, 2020. Smart contracts open up a whole new set of user experiences and new attribution models for DApps built on the Theta network. For example, leveraging smart contracts on the Theta network could enable fully digitized item ownership, innovative payment-consumption models, transparent royalty distributions, trustless crowdfunding mechanisms, and much more. This provides an additional layer of social and economic interactivity that supplements the core functionality of video and data delivery, and significantly increases the engagement and retention of platform users.

Mainnet 3.0 Overview

Building on this foundation, Theta Mainnet 3.0 introduces two protocol innovations:

  1. Upgrading to Elite Edge Nodes will enable “Uptime Mining”, the tokenization of Internet bandwidth and availability. Users will be able to stake TFuel to an edge node ...

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Stories by Theta Labs on Medium

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