CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Scan to Download iOS&Android APP

Theta Metachain mainnet 4.0 launch timing and details: A big week for Theta Token and TFUEL?

By Raphael Sanis


Updated

Share this article
In this article:
TFUEL/USD
TFUEL/USD
0.06048 USD
0.00071 +1.230%
THETA/USD
THETA/USD
1.140 USD
0.023 +2.080%

Subscribe to Weekly Highlights

The major market events for the week ahead right in your inbox. Subscribe
The theta network coin on a purple background
The Theta Network provides blockchain infrastructure for video, media and other Web3 entertainment companies – Photo: Shutterstock

After launching its testnet in October, Theta Network (THETA), a blockchain infrastructure provider for media businesses, released its new mainnet this week on 1 December.

This marks the fourth upgrade to Theta’s mainnet. Most significantly, it will introduce the concept of its own metachain, an interconnected network of subchains.

Meanwhile, both its governance token THETA and utility cryptocurrency TFUEL have made steady gains over the past week. Yet they are still reeling from November’s crypto crash.

THETA to USD

What’s new with Theta 4.0?

Theta is being updated, with the primary mission at its core being “to meet the needs of video platforms, ticketing companies, metaverses, and many other enterprises as they evolve to decentralized models”.

The network’s new metachain will include one main blockchain and unlimited subchains. Its whitepaper explained: “Each platform or Web3 business can have their own subchain that is highly customizable and comes with the transparency, security, and credibility of a public blockchain.”

A software development kit (SDK) will be launched alongside the metachain, which will enable developers to efficiently create their own subchain. Media companies will be able to integrate the chain with all of Theta’s Web3 tools, including storage and NFT-based videos.

LUNC/USD

0.00 Price
-5.970% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee -0.0500%
Overnight fee time 22:00 (UTC)
Spread 0.00000794

XRP/USD

0.41 Price
-0.340% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00343

DOGE/USD

0.10 Price
+2.980% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.0012113

BTC/USD

23,391.35 Price
-0.090% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

The new metachain format will also improve Theta Network’s scalability. Each subchain will execute its own transactions independently from the main chain, bringing more processing capacity to Theta.

“By transitioning to the Metachain model enabling potentially unlimited transactional throughput and subsecond block finalization, Theta will be ready to meet the needs of applications with millions of users and transactions per day,” its whitepaper added.

Theta’s price movements 

The THETA and TFUEL cryptocurrencies were both down by approximately 4% at the time of writing.

After stooping to a 52-week low of $0.80 on 22 November, THETA recovered in the lead-up to its mainnet 4.0 going live. It reached a high of $0.97 on 27 November, but has since lost some of these gains and was trading at $0.90 as of 2 December 2022.

It was a similar story for TFUEL, which is used to pay gas and fees on the network. The cryptocurrency dropped to a low of $0.039 on 14 November and was trading at $0.0457 as of 2 December 2022.

Both have seen significant losses over the past month. 

Related reading

Rate this article

Share this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Latest Cryptocurrency news

Still looking for a broker you can trust?

Join the 480.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading