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ThetaNetwork Notes

Page history last edited by rsb 3 months, 2 weeks ago


 

Status: Explored guardian node economics, but not too much else.

 

Basic Info:

 

Whitepaper: https://github.com/thetatoken/theta-protocol-ledger/blob/master/docs/theta-technical-whitepaper.pdf

 

Theta Github: https://github.com/thetatoken

 

From a Theta Labs Medium Channel Post on Theta Fuel:

 

THETA is used strictly for staking and securing the network, while TFUEL is used to power microtransactions and operations of the network.  [Theta - governance token; Tfuel - Operational Token]

 

Notes:

 

Tfuel is used to pay relayers.

5 tfuel were issued to every holder of 1 Theta token when the mainnet launched.

USD price of Theta coin is currently at .22 today.

There is a 5% inflation rate for Tfuel built into the system.  After a year there should be 5,000,000,000 Tfuel initially created plus 250,000,000 newly created during that year. 

Tfuel will get burned up in transactions. 

 

Partnerships:

 

Unclear what the partnership is with Google - but I think that's a google employee saying that Google agrees to maintain a relayer:

 

https://www.coindesk.com/google-signs-on-as-network-validator-for-blockchain-video-network-theta

 

Youtube is currently a 15billion dollar business.

Thetacoin market cap is currently 222MM (update Oct 7 - over 700MM)

 

Running a theta node on your laptop: Probably o.k. On a gig connection to the net, will take a day or so to sync the net as of this writing.  Thankfully it uses only one CPU. (update Oct 7 - don't try this)

 

Running a theta guardian node on google cloud - est cost 200USD per month.  I got a test node up and running fairly quickly.  However:

 

Just looking at the Google Cloud pricing for my guardian node, and the Tfuel earnings at https://guardianmonitor.io/, which I assume is normalized into USD, it looks like you need 600K staked in a GCP node to earn back the 200USD per month that it takes to run one.

 

So don't try that, either, unless you are able to stake enough theta to make it worth it to you v. other staking opportunities.

 

Community:

 

It's all on slack. There is a telegram channel, but I have not seen any theta network people post there.  I do see people respond with spam after every post I make, or try to get me to join a staking pool, but that's about all there is.  However, there is a support email address: support@thetatoken.org

 

Trading:

 

As of this writing, if you are in the US, you can trade theta token and tfuel on godex.io, which doesn't seem to be transparent in the least.  The chinese version of binance also trades theta and tfuel, but you are not supposed to trade there from within the US.  ( Update Oct 7 - rumors are that coinbase will add support soon - but that is hearsay)

 

Guardian Node Notes:

 

The instructions for GCP are fairly simple and work.

 

However, the node has a number of problems:

 

In your group and shadow files, you will note that the outsourced devops team that put this together left all their logins in every node.  I removed those:

 

floppy:x:25:ubuntu,sekhar_mandapati,yash_mujumdar,ishaqshaikh,ishaq_shaikh,dion,richbodo

 

Automatic security updates, a one minute application, was not enabled.

 

I also had to work on the firewall and a bunch of other stuff.  This is just not where we want to be right now with this image.

 

I'm sure they will fix that - they did respond on slack that this was being looked into.

 

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