The Theta mainnet went live on March 15th and has now been running strong for 10 days. It’s been great to finally see the blockchain in action and network users earning real TFUEL! We’re working on a vehicle for regular public updates on network performance, but to start here are some key stats we wanted to share from the first 10 days of the Theta mainnet:
2.7 million: the number of on-chain transactions processed by the Theta blockchain in the first 10 days, each representing an average of 60 video segment micropayments. In total that means more than 160 million micropayments have been secured by the Theta blockchain.
31 TFUEL: the average number of TFUEL earned per user per day. At current TFUEL prices that’s about $16/month, more than enough to cover a typical video platform’s monthly subscription. (When the universal edge cacher launches later this year, superusers will be able to earn even more!)
38.5 minutes: The average session time of users watching Theta-powered channels. This is more than double the average session time on channels not using Theta, and shows how powerful token rewards can be as a user engagement mechanism.
What does this mean for the Theta Network?
The Theta mainnet blockchain, block explorer, and wallet have been successfully launched. The team is first focused on launching the Guardian Node onboarding program, the integration of Theta in the CJ Viewing TV box and other hardware applications, and the release of the universal edge cacher client. For more detail on Theta plans for the year, check out our 2019 roadmap.
From a platform adoption standpoint, once mainnet integration is complete our partners like MBN, CJ Hello, Samsung VR, and Pandora.tv can now offload up to 60% of their bandwidth costs and share the benefits with their users! With an average user earning $16 worth of TFUEL per month or more, that’s enough to pay for a monthly subscription to premium MBN content, or several movies on CJ Hello. Users get rewarded and platforms increase their subscriptions and revenues, creating a virtuous cycle where all stakeholders get rewarded for using the Theta Network. As platforms adopt the Theta mainnet, this will create demand for TFUEL used to reward users.
Other integration info
Exchanges continue to work on integration of the Theta mainnet. Gate.io and UPbit have completed this process, and users can deposit and withdraw their mainnet Theta Tokens and Theta Fuel. Our engineering team is also working with Binance, OKEx, Huobi, Bithumb, DigiFinex, and HotBit to finish mainnet integration, but this is limited by the schedules/resources of each exchange and so we cannot offer a specific date for completion.
Ledger and Trezor integrations are also in process. If you are holding your ERC20 Theta Tokens on either of these, you can either wait for Ledger/Trezor to support the Theta mainnet, or if you are comfortable with the technical side of crypto, extract your hardware wallet’s private key and import the address into the Theta web wallet.
If you missed the March 12th token swap deadline, please email us at [email protected]. As long as you have the private key to the address that held your Theta Tokens at that time, you can recover your Theta Tokens + Theta Fuel on the mainnet.
Stay tuned for the upcoming release of the Guardian Node onboarding client, and for the latest info join the Theta telegram channel. We appreciate your support and are looking forward to a great year for adoption of the Theta Network!
Cheers,
The Theta Team
