Theta Fuel (TFUEL) is a cryptocurrency that powers the Theta Network. The decentralized platform leverages blockchain technology to enable high-quality video streaming, to provide a more efficient and cost-effective alternative to traditional video delivery platforms.
Unlike many cryptocurrencies, Theta Fuel was not introduced through an initial coin offering (ICO) or an initial exchange offering (IEO). Instead, it was distributed to existing Theta Token (THETA) holders through airdrops.
TFUEL serves as the internal coin for the Theta Network, providing incentives for participants to contribute resources and acting as a means of payment for goods and services within the network. The distribution of TFUEL to THETA holders continues through various mechanisms such as staking, watching video streams, and participating in governance decisions.
By using TFUEL as the platform’s internal currency, Theta Network aims to create a more seamless and efficient payment system for these transactions. Theta Fuel is an essential component of the Theta Network ecosystem, playing a pivotal role in incentivizing participation and providing a means of exchange within the platform.
