Theta worth gained 180% in merely two weeks as a number of highly-anticipated bulletins had been behind the rally.
The Theta Community is a protocol that allows customers to observe digital content material, like esports, utilizing the blockchain. The protocol’s native token THETA rose by 180% from $0.867 to $1.92 inside two weeks between Dec. 20 and Jan. 2 to outperform even Bitcoin (BTC), which continues to soar to new worth discovery highs.
Theta Mainnet 3.0 roadmap was the principle catalyst
Sometimes, the native tokens of blockchain protocols are likely to surge in worth following high-profile bulletins.
Theta launched its plans to introduce Theta Mainnet 3.0 within the spring of 2021. The protocol improve permits the community to seize stay video and allow stay streaming, along with viewing different movies on the platform.
The event crew behind Theta Mainnet 3.0 defined that the “EdgeCast” expertise would permit stay streaming and not using a central server. The crew defined:
“This new absolutely decentralized expertise stack provides the power to seize stay video, transcode it in real-time, cache and relay stay stream video knowledge to customers globally — all via Theta’s P2P edge community run by hundreds of group members. Not a central server or service is used on this pipeline.”
Two main parts on this mainnet launch are the introduction of Elite Edge Nodes and TFuel burning.
Merely put, Elite Edge Nodes tokenize web bandwidth. By staking Theta Gasoline (Tfuel), which is one other native token of the Theta blockchain, customers can earn extra Tfuel. This course of known as uptime mining.
Tfuel was basically airdropped to present Theta Token holders in 2019, when it launched. Theta Token is the governance token of the blockchain, and Theta gas is the gasoline token that’s used to pay transaction charges on the protocol.
The Tfuel burning mechanism might additional cut back the availability of Tfuel because it burns the availability of Tfuel with the revenues taken from charges on the protocol.
The mix of Elite Edge Nodes and Tfuel burning make Tfuel extra compelling, which naturally buoys the sentiment round Theta Token.
Different bulletins had been additionally key
On Dec. 19, Theta revealed the Theta Pockets Chrome extension on the Google Chrome web site. This basically permits customers to make use of the pockets like Metamask, interacting with the Theta platform.
Previous to that, on Dec. 11, Theta accomplished a key protocol improve, releasing good contracts on the mainnet. The crew stated on the time:
“The protocol improve is successful! New options together with good contracts and stake min to 1,000 THETA are actually applied onchain, & the Theta Pockets and Explorer have been up to date.”
Because of the consecutive launch of highly-anticipated bulletins, Theta has been one of many best-performing cryptocurrencies alongside Polkadot (DOT). Analysts at Santiment famous:
“The top of 2020 and starting of 2021 have been excellent for #crypto, as essentially the most worthwhile funding asset within the final decade, #Bitcoin, is getting ready to $30,000. Along with its 20% week, $DOT, $THETA, $DOGE, and $STX carried out even higher.”