Are you looking for a way to earn rewards on the Theta Network? Look no further than the Theta Network Staking Program. In this article, we will dive into the details of the staking program and how you can start earning rewards today. If you are interested in Bitcoin trading, you may also consider knowing about Bitcoin’s Comparison to Physical Cash.
What is the Theta Network?
The Theta Network is a decentralized video delivery network powered by blockchain technology. It is designed to improve video streaming quality and lower the cost of delivering video content. Theta Network has its native cryptocurrency, Theta Token (THETA), which is used to pay for video content delivery and other services on the network.
What is Staking?
Staking is the process of holding cryptocurrencies in a wallet to support the operations of a blockchain network. In exchange for holding and supporting the network, stakers are rewarded with additional cryptocurrency. The Theta Network Staking Program allows THETA holders to stake their tokens and earn additional THETA as a reward.
How to Stake on the Theta Network
To stake on the Theta Network, you must first have a Theta Wallet and THETA tokens. The Theta Wallet is available as a desktop application or as a browser extension for Chrome and Firefox. Once you have your wallet set up and your THETA tokens, you can begin staking.
There are two ways to stake on the Theta Network: Guardian Node and Edge Node.
Guardian Node Staking
Guardian Node staking is designed for those who want to support the Theta Network by running a node. Guardian nodes are responsible for validating transactions and securing the network. To run a Guardian Node, you must have a minimum of 10,000 THETA tokens. Guardian Node stakers earn a higher percentage of rewards than Edge Node stakers.
Edge Node Staking
Edge Node staking is designed for those who do not have the technical expertise to run a Guardian Node but still want to support the network. Edge Nodes are responsible for relaying video streams and caching video content. To stake as an Edge Node, you must have a minimum of 1,000 THETA tokens.
Earning Rewards on the Theta Network
Both Guardian Node and Edge Node stakers are rewarded with additional THETA tokens for supporting the network. The rewards are distributed every week and are based on the amount of THETA being staked and the length of time the tokens have been staked.
The number of rewards you earn depends on the number of THETA tokens you have staked and the length of time you have been staking. The longer you stake your tokens, the more rewards you will earn. It’s important to note that there is a minimum staking period of 3 days, so you will not receive any rewards if you unstake your tokens before the 3-day period is up.
In addition to earning rewards, staking on the Theta Network also helps to support the network and improve its security and reliability.
Staking on the Theta Network is a great way to earn rewards while supporting a decentralized video delivery network. Whether you choose to stake as a Guardian Node or an Edge Node, you can earn additional THETA tokens for supporting the network. With the Theta Wallet and THETA tokens, you can start staking today and begin earning rewards every week.