THETA Wallet | How to Store Theta Network in 2022?
Theta Wallet is one of the most promising crypto projects of today. It offers video streaming on the blockchain, and its native THETA coin has skyrocketed in 2021, making 3X from the beginning of the year.
If you want to benefit from such a surge, building a Theta coin wallet can be one of the possible ways. An essential thing you’ll need for this is a reliable Theta node. In this article, we will tell you how you can access one easily and reliably.
What is Theta?
People love watching videos — every day, over 1 billion hours of content are watched on YouTube alone. However, streaming videos there implies problems: the platform charges a 45-55% split for royalty fees, can block videos and entire channels due to non-transparent rules and authorities’ requests, and those creators with few views barely have an opportunity to earn. On centralized platforms like YouTube, people don’t have control over their content usage and monetization.
Theta is a video streaming network powered by its users. They share bandwidth and the computer power in a peer-to-peer way, while thousands of “guardian” nodes are run by the community, which ensures a high level of decentralization. The network runs on a Proof of Stake consensus algorithm, so anyone can stake their THETA token to earn rewards and take part in its governance.
How to build a wallet on the Theta blockchain?
To build a Theta wallet, the first thing you need is access to a Theta node. A node is a part of the cryptocurrency’s network that disposes of the entire version of the blockchain that is updated in real-time. The node is needed to initiate transactions, learn their status, and keep track of the wallet balance. Let’s review this in more detail.
What is a Theta node?
A Theta node is a full-fledged member of this cryptocurrency’s network that ensures its proper functioning. In the Theta network, there are two types of nodes — Validators and Guardians.
Why NOWNodes?
We carefully monitor the nodes’ proper functioning 24/7. Our API uptime is 99.95%, but if anything goes wrong, we always have strong backup options. The response time of your API is less than a second, so the users of your wallet will swiftly get updates on their balances and transactions.
If you will need to run a project with other cryptocurrencies than Theta, we got you covered: NOWNodes supports 40+ blockchains, and you won’t have to spend time looking for other services: all block explorers and node APIs are already here.