 | Theta (THETA) NetworkThe Theta blockchain is based on Ethereum, and hence it’s a Proof-of-Stake (POS) coin. It supports both fungible and non-fungible tokens and smart contracts. The network uses a Multi-level Byzantine Fault Tolerant consensus algorithm, which allows it to process around 1.000 transactions per second. Theta uses various nodes to protect its blockchain, verify transactions, and host video content. The first type is the validators, known as Enterprise Validator Nodes. As of February 2022, there are 16 validator nodes operated by Theta Labs and several renowned companies such as Google, Sony, Samsung, Binance, etc. Around 3.500 Guardian Nodes make up the 2nd part of the consensus group. And finally, there are over 130.000 Edge Nodes on the Theta blockchain. As the name might suggest, the guardians are responsible for safekeeping the blockchain if Validator nodes get hacked or start acting maliciously. Guardian Nodes also have double-checking responsibilities, and they inspect everything that Validator Nodes are doing. [link] [comments] |
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