What to know about Theta before MainNet Launch
Exciting developments in blockchain’s most applicable and immediate utility network — Theta
Theta Network (www.thetanetwork.io) has been working hard developing their network, dual token structure, economic algorithm, all while growing and partnering with major media and entertainment companies. Theta strategically targeted the Korean market, considering their investment and cooperation with Korean tech conglomerate, Samsung, and the country’s overall hyper-connectivity and gaming/media culture.
Current announced partners: CJ Hello (Korean equivalent to Time Warner or Comcast), MBN (Korean equivalent to CNBC or Wall Street Journal), SamsungVR (live testnet link @ sliver.tv/win/theta), Pandora.tv (one of Korea’s most popular video websites).
As Theta Network is scheduled to launch on March 15th, there is much to look out for. They have announced they are working with partners for official partner launches, including main network dapps (to be announced), mobile apps, and economic incentives.
However, before the mainnet, as token holders, we all have our #1 responsibility in blockchain technology and investing, securing our private keys and wallets. That is that “we are our own bank!” Make sure you follow @Theta_Network or Theta Labs here on Medium for up-to-date announcements regarding the Theta Wallet and network developments.
The Theta team has not currently, as of the date of this post, announced or confirmed any official token swap support through any exchanges. Hopefully they will have this ready before March 15th launch. Therefore, the team recommends using their official Theta Network Wallet to hold your tokens and seamlessly swap them at the main net snapshot of all wallets and accounts.
Also, one of the main attractions to the Theta Network is their efficient Proof-Of-Stake consensus mechanism which saves energy as compared to Proof-Of-Work (Bitcoin server type energy wasting process). This opens up the ability for large Theta Token holders to start staking their tokens to help validate and secure the network, thus earning a share of the Theta Fuel. Another way to earn Theta Fuel is by sharing your bandwidth to relay data to your neighbors (proximity of 300–500 miles).
The Theta Network team will announce all of this information as it happens. They are not a team that makes announcements regarding upcoming announcements. This is the most quality project in blockchain, and happens to also be the most immediate and globally applicable decentralized technology.
It is good practice to check the Theta Twitter/Medium daily to follow up on new announcements, especially the Theta Wallet as you will need to store your Theta Tokens there to ensure you receive the 5:1 airdrop (1 Theta Token = 5 Theta Fuel). While the team will work out contingency plans for people who do not hold their tokens on a mainnet compatible service to be able to receive mainnet tokens, it is strongly advisable to secure your ERC20 tokens on the wallet before March 15th.
There is most likely a lot of good news coming from the Theta Network team as they commit more code to GitHub, post transparently, work on product/partner rollouts, and continue testing their network with live streamers.
This is a very exciting time in crypto as one of the strongest but lesser known blockchain projects launches their mainnet network. This project allows anybody, rich or poor, to utilize your home internet (and work internet) connection to earn real, valuable, blockchain tokens. This is the easiest way to enter into crypto for the average user. This is a whole new world!