Cryptocurrency Q&A
What network is THETA on?
What network is THETA on?
KimchiQueenCharmingKiss
Fri Jun 28 2024
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5 answers
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Could you elaborate on the network on which THETA is based? I'm particularly interested in understanding the underlying technology and infrastructure that powers this cryptocurrency. Is it a decentralized network with its own blockchain, or is it built on an existing platform like Ethereum? Additionally, what are the key advantages or differentiators of THETA's network compared to other blockchains in the cryptocurrency space? Any information you can provide would be greatly appreciated.
5 answers
SsamziegangSerenadeMelodyHarmony
Sat Jun 29 2024
This approach significantly reduces the time required for transaction confirmations, making the Theta Network faster than its PoW counterparts.
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AmethystEcho
Sat Jun 29 2024
The Theta Network is a cutting-edge blockchain platform that utilizes a modified Proof-of-Stake (PoS) consensus mechanism.
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CharmedEcho
Sat Jun 29 2024
Additionally, BFT is more resource-efficient, as it does not require the same level of computational power as PoW networks.
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Andrea
Sat Jun 29 2024
This mechanism, known as Multi-Level Byzantine Fault Tolerance (BFT), is designed to enhance the efficiency and scalability of the network.
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Raffaele
Sat Jun 29 2024
In contrast to traditional Proof-of-Work (PoW) networks, BFT utilizes a small subset of nodes to facilitate the approval process.
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