Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

THETA course after hard fork in forward gear

2 min read

THETA course after hard fork in forward gear

Not only ETH has a hard fork in its bones. The Theta Network already had an important upgrade a week ago that has significantly increased the performance of the decentralized streaming platform. The network is also making progress in terms of interoperability.

While all eyes were on the ETH hard fork “London”, the Theta Network presented a week ago. On July 30th, the decentralized streaming platform was updated to version 3.1.0, which has significantly improved usability. The upgrade also left its mark on course performance. Already in anticipation of the fork, the THETA price was able to fight its way out of the trough and soar to become today’s top performers on the crypto market.

Network doping through hard fork

Due to the hard fork, the transaction throughput in the Theta Network has increased significantly. Previously, validators had to wait an average of six seconds for a proposed block to be sent. With the fork, “a new block proposal protocol” was introduced, which is supposed to guarantee instantaneous sending. This has a significant impact on performance, like the developers write:

Potentially, most of the block time can be used to execute transactions, which significantly increases the efficiency and transaction throughput of the blockchain. This is a key factor for video relaying with many simultaneous users or decentralized exchange, to name just a few use cases.

Thus, more than 1,000,000 simultaneous users can be supported, “relaying videos over the theta network”. Together with the implementation of the “rolling database”, which enables faster data processing, the hard fork has significantly relieved the network:

Rolling allows data to be read and written much faster, even if the database becomes very large. The update also introduces more efficient pruning, so that hard drive consumption grows more slowly than before with the same number of transactions per day.

In addition, Theta has also made progress in connecting to ETH. On August 4th, the developers gave access to the Theta blockchain via the ETH-supporting Metamask wallet famous. An important step for the increasing compatibility with ETH, which is finally part of “Theta’s vision for 2021” to “port any ETH or ETH compatible application and run it seamlessly on the Theta blockchain”.

THETA course on the rise

The THETA course has shown itself to be reanimated by the latest developments. At the time of going to press, the governance token was trading at $ 7.15, up 15 percent for the day. In a weekly comparison, THETA has increased by 19 percent. On the other hand, the price increase for Theta Fuel (TFUEL), the second token in the Theta network that is used for internal payment processing, looks a little more subdued. At the moment TFUEL recorded an increase of six percent in the last 24 hours, but still struggles with a minus of around three percent on a weekly basis.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply