Theta Wallet Released to Time with Mainnet Launch

Theta Wallet Released to Time with Mainnet Launch

Holders of Theta tokens are being urged by the company to download a new Theta wallet by March 10th in order to store their assets in preparation for the transfer to the Theta mainnet a few days later.

Currently available on Google Play store for any Android-enabled device, the Apple iOS version is expected to be released in the Apple Store once the standard application approval process has been completed.

Decentralised Streaming Network

On setting up the wallet, users will create a mnemonic phrase for security, and this will also act as the key to restore the application if necessary.

All current ERC20 tokens in the wallet will be automatically converted to Theta Mainnet Tokens once the genesis block of the Theta blockchain is produced on March 15th. In addition, holders will receive 5 Theta Fuel tokens for each Theta token in their wallet.

Backed by Samsung VR, developers originally designed the network specifically for the video streaming industry.

With the Mainnet launch Theta will be progressing from the testing phase into the full decentralised streaming network (DSN) marketplace where it can build upon their e-sports gaming coverage – already in place on Sliver.TV – to expand into other content and data delivery areas.

By incentivising users to share bandwidth through token economics, the Theta Network is working towards establishing a sustainable model to eventually challenge traditional content delivery networks (CDNs) such as Netflix and Amazon.