Theta network staking: tfuel (EN) vs theta (GN). GN restart regularly. GN does not sync

Why we need the THETA network (what problem does it try to solve) (link).

At the start of the theta network all of the GNs would receive, on each reward cycle, their reward calculated on a weighted basis but this could not scale so an upgrade was recently applied which, on each cycle, only 300 rewards each of 12 TFUEL would be issued. My GN has multiple public addresses and the reward to each might vary a lot but on average I would say that I am receiving rewards that are similar to the rewards before the upgrade.

Staking: tfuel vs theta

PRE-ELITE BETA vs ELITE TFUEL staking rewards (link) in which youtuber ‘TeddyB’ suggests that the reward from EN staking will increase 58 times when theta mainnet goes to v3, the release for which did get pushed out to 30 June, 2021.

Staking Rewards (5-to-1) Disparity between ($10) THETA (59% staked) and (35c) TFUEL (if the same was staked, not 11%) (link).

Understanding THETA & TFUEL staking rewards Golden Price Ratio. TFuel Farm explained! (link).

Of the above ‘TeddyB’ video vs the other above ‘Cryptos For All’ video, the latter makes a better explanation of the staking dynamics between GN staking theta and EN staking tfuel.

Theta GN restart at frequent intervals, perhaps weekly

Someone on the theta forum has suggested that a theta Guardian Node should be restarted at regular intervals, using the restart node option from the menu. I have started restarting my GN on a weekly basis and I suggest you do the same.

Sometime during 2021 the theta blockchain ticked past the 10 million block mark. Fortunately, a theta GN does not need a full copy of the theta blockchain because it’s the job of the theta validator nodes to have a full copy of the theta blockchain.

Furthermore, the idea of the snapshot that the theta GN is taking while it is starting/restarting is so that the theta GN only listens for new blocks post-snapshot that come out of the validator nodes, and records these new blocks to the hard drive, while the old blocks get blatted from the hard drive, bypassing (I think) the recycle bin.

Possible fix to a theta GN that does not synchronise

Got the following from the Theta slack forum as a possible fix to a theta GN that does not synchronise and it allegedly worked:

1. Close the GN app

2. Go to the folder C:\Users\<USERNAME>\AppData\Roaming\Theta Guardian Node\ThetaGN\configs\mainnet

3. Manually delete the “snapshot” file in this directory, and the “db” directory under this folder. (NOTE: be careful NOT to delete the key/ directory and the config.yaml file)

4. Restart the GN app

Theta Network Research & 2021 Roadmap (it is coming for youtube)

The information in this post should not be considered financial advise.

‘Next generation video delivery powered by you’ is the slogan on theta network’s website thetatoken.org. The opportunity for profit that is open to the public is through the 2 tokens needed by the network, namely theta and theta fuel (TFUEL). As this network grows these tokens have the potential to increase in value. Right now, the theta network is a minnow start-up and is not likely to be promoted heavily by the mainstream which means that the public will likely only hear about it through word of mouth such as what I am attempting here.

tfuel how does it work? THETA TOKEN and TFUEL EXPLAINED (link).

This youtuber claims that some Wall St analysts have a tfuel price target of $5 for 2021 and for 2022 of $60. As of 2021-03-05 the price was 5c.

Importance of the EDGE node to the THETA network (link).

The number of edge nodes has grown to 27,000 as of 2021-03-24 from 2,100 following guardian node staking being launched in mid-2020 on their mainnet. This is the moment that theta suddenly became a viable network.

Google Betting Big On This EXPLOSIVE Altcoin (Theta Price Prediction $24 during 2021) (link).

5m10s ‘In fact youtube is likely going to be using theta as a second layer to increase the quality of its streaming service’.

I can see theta completely replacing youtube in the not-too-distant future. As of 2021-03-05 the price of the theta token was $3.5 and I think I might have started buying them at 10c so I am up a bit but if theta does replace youtube I think it might be going much higher than $24.

Theta 2021 Roadmap Medium Post (link).

(Q1) What are Non-Fungible Tokens (NFT)? (link).

‘ – Non-fungible tokens (or NFT) are unique blockchain-based tokens that can represent practically anything—including physical assets’.

‘ – A large proportion of NFT currently represent in-game items and crypto collectibles, but they have innumerable potential use cases, many of which are currently being explored’.

(Q2) Line (software) (link).

‘Line became Japan’s largest social network in 2013. In October 2014, Line announced that it had attracted 560 million users worldwide with 170 million active user accounts.[10][11] In February 2015, it announced the 600 million users mark had been passed and 700 million were expected by the end of the year.[12] It is the most popular messaging application in Japan.[13] It is also popular in Taiwan, Thailand, Indonesia, Cambodia and Turkmenistan.[13][14]

(Q2) Video Transcoding: Why is it Important in Livestreaming? (link).

‘Transcoding, in the media context, means the process of converting a file from one format to another. It can be a file format, a video file, or an audio file. The outcome? For media viewers, this process makes video files available across different devices and platforms. For video producers, transcoding prevents placing a heavy strain on your computer due to large file sizes. And for streamers, it lifts the burden when you transfer or upload a video file to a website’. 

(Q4) IPFS powers the Distributed Web (link).

‘A peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open’.

Theta 2021 Roadmap Discussion w/ Big Dog (link on theta.tv).

I think it is safe to say that Big Dog is in awe of theta.

Theta Edge Node Cast/Worker

 

There is a second type of Theta Node that is open to the public in addition to the Theta Guardian Node (GN). That node type is the Theta Edge Node (EN) downloadable from thetatoken.org and which has 2 sets of modules. As you scroll down this webpage you will find an endorsement from Steve Chen the co-founder of Youtube which should sell you on theta as should Google signing on with theta.

 

The first set of modules on an EN is Edgecast for watching or broadcasting fully decentralised streaming and the second is Edge Workers for caching, computing. All 4 modules are described in Theta’s blog ‘Introducing Theta Edgecast: The world’s first decentralized streaming DApp for end-to-end live streaming, transcoding, caching and video delivery’ (link).

Do we need youtube any more with all their censorship, demonetization, deplatforming?

 

️ WHAT IS EDGE COMPUTING? | LET’S COMPARE WITH CLOUD (link).

 

(IBM) The Future of Edge Computing (link).

 

My Theta Edge Nodes have been configured to send the Theta Fuel tokens earned to my wallet’s public address for the Theta token. An alternative destination for the Theta Fuel tokens earned by an EN would be a public address on a cryptocurrency exchange account, the most popular one being binance.com, and according to the theta slack forum token payouts take place at month end.

 

While Theta Fuel tokens are earned by running an EN with the cache switched on, unlike those earned by a GN I think that the amount is based on how much the network makes use of a particular Edge Node which logically would depend on how proximate it is to that usage demand. I am hoping that as the network grows in usage then the earnings will grow in proportion to that usage. Of course, I could be wrong on all this.

 

On the slack forum I have found a demo stream for the Theta Edge Node (link) which plays brilliantly on my Theta Edge Node.

 

Although the minimum stake for a GN is 1,000 Theta token, the exchange binance.com does offer it’s account holders a 1-2% staking feature whose minimum stake is 10 Theta tokens (link) with token payouts taking place mid-month.

 

 

Google signs on with theta. Users can launch a node that puts an idle internet connection to work

 

Google Signs On as Network Validator for Blockchain Video Network Theta (link).
‘Eventually, Theta aims to have 31 external enterprise validators. Google Cloud is also becoming Theta’s preferred cloud provider with today’s announcement’.
‘“I can’t speculate on what will happen in the future, but we’re looking forward to working with users who want to join the Theta network,” Day said. “Users can launch a Theta Guardian node from the GCP marketplace. With a few clicks, they can deploy a Guardian and be peering with the Theta network.”’
 
Only the week before, Samsung was giving Theta some love see link.
From last Wednesday (2020-05-27) I have been running a node (see attached picture) to earn theta fuel tokens (market price) and my brother is going to be running a node using my theta tokens just as soon as he gets a more souped up machine. For the minimum requirements to run a guardian node see link and to test your bandwidth see link. A minimum stake versus the current network stake of 445m theta tokens as of 2020-06-07 looks like will earn a monthly reward of 468 theta fuel tokens. The formula for this calculation is ((n1 THETA staked to your node / n2 total THETA stake on the network) x 250,000,000 / 12.
 
If you’re interested in running a minimum stake node using my theta tokens then let me know. The minimum stake is 1,000 theta tokens.
 
A Theta Edge Node Cast/Worker can also put an idle internet connection to work but does not need to stake theta tokens (link).
Finally, you should never think it’s too late to get into bitcoin, or theta for that matter. Alphabet, the parent company of Theta’s new partner Google, as of 2020-06-10 has a market cap of $999B and a share price of $1,461 that back in 2004 was $50. The first real world transaction in BTC took place on May 22, 2010 when Laszlo Hanyecz paid 10,000BTC for 2 pizzas from Papa John and today it is just under $10,000, while theta is only 2 years old.