Theta Fuel Price

Introduction of TFUEL Cryptocurrency

Theta Fuel (TFUEL) is a utility token on the Theta blockchain, alongside THETA, which are the two tokens used on the network. It is mainly used for:

1. Network service fees: TFUEL is used to pay for network service fees, such as transfer fees.
2. On-chain operations: TFUEL is used for on-chain operations, such as paying edge nodes relayers to share video streams, or for deploying smart contracts or interacting with smart contracts.
3. Smart contract development: TFUEL is used for the development and deployment of smart contracts.
4. Staking rewards: TFUEL is used for staking rewards on the network.

The Theta blockchain is an entertainment blockchain that provides end-to-end video streaming infrastructure. It also has its own token standards, TNT20 and TNT721, allowing users to create their own fungible and non-fungible tokens (NFTs).

Theta Labs is the company behind the Theta blockchain, co-founded by Mitch Liu and Jieyi Long in 2017. Liu is an entrepreneur and the CEO of Theta Labs, while Long is a computer engineer and the Chief Technology Officer.