Why choose the Wigwam crypto app?
Work with Theta Testnets and Mainet
Buy Theta tokens, including native token, by using a credit card
Swap Theta-based tokens directly in the wallet
Possibility to connect the wallet to all Theta Blockchain dAps: DeFi, DAO, Gamings, etc
How to get a Theta address in Wigwam web wallet
Create a wallet in Wigwam
Choose a Theta network from the dropdown menu
Copy you Theta address
Theta Blockchain Review
Theta is a peer-to-peer EVM-compatible blockchain protocol designed to improve video streaming and delivery in comparison with traditional CDN platforms. Also, the Theta network allows users to bridge assets from Ethereum (ETH) via THETA Bridge to encourage the development of cross-chain services.
Origins and Vision
Due to the growing streaming standards and geographical restrictions associated with centralized content delivery networks (CDNs), many users lament buffering and low-quality issues in the process of content consumption.
To solve these problems, Theta Labs launched the THETA Network in November 2017 as a protocol that used BTF consensus algorithm and decentralized network of nodes for storing and delivering content to the end users in exchange of rewards. By implementing this solution, THETA team reduced reliance on centralized data centers, ensured an adaptable, unrestricted streaming experience, and made video delivery more efficient for providers.
The Theta blockchain launched mainnet 1.0 in March 2019 and started engaging users and creating a distributed network for video streaming. After subsequent releases, it upgraded to mainnet 4.0 three years later with features improving network efficiency, content delivery and supporting DeFi and NFTs. Also, THETA partnered with ABS-CBN in March 2023 to power its non-fungible token (NFT ) operations.
What Consensus Algorithm and Network of Nodes Does Theta Blockchain Use?
Theta uses an effective Byzantine Fault Tolerance (BFT) algorithm and its work supported by three unique node types: the Guardian, which runs a check to spot non-functional or malicious network participants; the Validator, which confirms new block transactions and the Edge nodes that share computing resources and excess bandwidth to optimize video stream quality for viewers on the network. In Theta, over 3,500 Guardian nodes ensure security and only 31 validators create and confirm new blocks. Users must stake at least 200,000 THETA tokens to qualify as a validator and only 1,000 THETA to become a Guardian Node on the network.
How Theta Technically Solved Problems with Scalability, Decentralization, and Speed
Theta solved issues associated with speed, scalability, and decentralization using the effective Edge nodes technically. They make the chain scalable through caching and storing data closer to the users, which, in turn, ensures efficient content delivery. Furthermore, these participants decentralize the network by sharing resources and governance among stakeholders.
DeFi Ecosystem on Theta
DeFi on Theta offers reduced gas fees compared to Ethereum, enabling the development of exciting dApps from any EMV-compatible blockchain with 1-2 seconds of transaction finality.
The Theta DeFi ecosystem offers users crypto exchanges such as “ThetaSwap” or “VoltSwap” to trade assets without third parties. To join the Theta ecosystem we recommend to use Wigwam crypto app for DeFi.
Theta NFTs Marketplaces
Theta NFT platforms attract traders and digital creators with low transaction fees. Popular non-fungible tokens platforms on Theta include “ThetaDrop” and “ThetaGainX”, where digital artists create and exchange assets.
Tokenomics and Gas Usage on Theta
Theta Fuel (TFUEL) is Theta’s gas fee token, and THETA is its a native governance/staking token. The utilities are as follows:
- Fee payment method - users watch streams and perform transactions on the network by paying fees in TFUEL.
- Rewards - Users receive compensation in TFUEL for contributing to the network
- Staking - Users stake THETA coins, and larger stakeholders become node providers that verify blocks for rewards.
- Governance - by staking THETA tokens on the network users may participate in its on-chain governance.
Theta is a next-generation blockchain platform designed to reduce reliance on centralized content delivery networks and reward users for their contributions. Also, its ecosystem’s Ethereum compatibility facilitates the development of decentralized applications seamlessly.
Theta Fuel (TFUEL) is the native gas token of this blockchain.
View THETA wallet activities in the Thetascan and Theta blockchain explorer. They have simple interfaces for users to check balances and transaction history.
Explore addresses and transaction transaction history through the Thetascan Explorer.
Check your Theta wallet token balances, activities, and transaction history on theTheta Blockchain Explorer.
Download, install, and launch the MetaMask app in your browser. Create your wallet and select settings. Then, move the cursor to click Add Network. Input the RPC URL information, name, symbol, and chain ID. Add the THETA network to your MetaMask wallet and safe this info.
Notable projects on the Theta blockchain span NFTs and DeFi. ThetaDrop and ThetaGainX are popular in the NFTs category, and ThetaSwap and VoltSwap are DeFi programs.