The Theta Community is a protocol that permits 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/USDT 1-day candle chart (Binance). Supply: TradingView.com

Theta Mainnet 3.0 roadmap was the principle catalyst

Sometimes, the native tokens of blockchain protocols are inclined 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” know-how would enable stay streaming and not using a central server. The crew defined:

“This new absolutely decentralized know-how stack provides the power to seize stay video, transcode it in real-time, cache and relay stay stream video information to customers globally — all by means of Theta’s P2P edge community run by 1000’s of group members. Not a central server or service is used on this pipeline.”

Two main elements 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 Gas (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 gasoline is the gasoline token that’s used to pay transaction charges on the protocol.

The Tfuel burning mechanism might additional scale 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 have 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 sensible contracts on the mainnet. The crew said on the time:

“The protocol improve is a hit! New options together with sensible contracts and stake min to 1,000 THETA at the moment are 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.”