Theta: Theta wallet released for Android OS, the first livestreamer on the Theta Network, details on token swap coming soon

Biweekly update 31st January — 14th February

This is not financial advice.

During the last weeks, Theta team made progress with development. Theta wallet released for Android OS with support for Mainnet token swap. The Apple iOS version of the Theta wallet has also been submitted to the Apple Store, and should be released shortly pending Apple’s application approval process. Theta team shares part of their longer-term vision in “Theta Network: Decentralized Data Delivery” article. There was the first ever livestreamer on the Theta Network this week with more streamers coming to Theta-powered channels as the team gets ready for mainnet launch next month. Theta community continues to grow. There is a stable increase in the number of token-holders and constant slight growth in Theta social media channels. During the last two weeks, the number of subscribers of Theta new subreddit increased by more than 30%. And the last, but not the least — THETA has been one of the best gainers of these weeks.

Development

GitHub metrics

The Theta wallet has been released with support for the Android OS. The Theta wallet is available now in the Google Play Store for any Android-enabled device (download link here). The Apple iOS version of the Theta wallet has also been submitted to the Apple Store, and should be released shortly pending Apple’s application approval process.

The Theta wallet can securely store the following assets:

  1. Theta Tokens on the upcoming Theta Mainnet
  2. Theta Fuel, the operational tokens of the Theta blockchain
  3. Ethereum and ERC20 Theta Tokens

Because the Theta wallet can support both the existing ERC20 Theta Token as well as all tokens on the Theta Mainnet, it’s the ideal program to handle the upcoming mainnet token swap and Theta Fuel distribution. The procedure to swap your existing tokens is simple:

  1. Download the Theta wallet
  2. Follow the in-app instructions to set up your wallet and record your mnemonic phrase
  3. Transfer your ERC20 Theta Tokens to the Theta wallet (make sure to send a small test transaction first!)

On March 15th, after the genesis block of the Theta blockchain is produced, you’ll see all of your ERC20 tokens converted to Theta Mainnet tokens. Additionally, you’ll see that your address contains 5 Theta Fuel for each Theta Token you hold. Your address, token balances, and any transactions will be verifiable in real-time on the Theta Mainnet block explorer.

The team is working with the exchanges that currently list Theta as well as major hardware wallets like Ledger/Trezor to support the Theta Mainnet and token swap, including Theta and Theta Fuel tokens. However, those integrations are not totally within their control, and the team can’t guarantee they will be ready in time for the mainnet swap. To prepare for the swap, they recommend that all users withdraw Theta Tokens from exchanges and other wallets into the Theta wallet by March 10th to be safe. If you have not transferred your tokens to the Theta wallet before the mainnet launch happens, they can’t guarantee an immediate swap to the new Theta blockchain. Understandably, Theta team will be focused on making sure the first days of the Theta blockchain are running smoothly, and it may be some time before they have the resources to address individual cases of manually restoring Theta Tokens to the new blockchain.

The team understands security is a top priority for the wallet, which is why they’ve initially chosen to restrict versions of the Theta wallet to Android and iOS. Since these are well-defined operating systems with predictable execution environments, they can better prevent edge cases that could expose the wallet to malicious actors.

Theta team shares part of their longer-term vision for the Theta Network.

While video delivery is the first target market of the Theta Network and their focus for first adopters, the Theta protocol can be generalized for any type of data delivery with a profile that lends itself to peer-to-peer sharing. Video game patches, OS updates, geo-location games that feature interaction with nearby users — any application that reaches concurrent users in close proximity can benefit from data being relayed on the Theta mesh network. Combined with the proliferation of powerful phones, tablets, and other smart devices, this will create robust decentralized edge networks that are transformative to data delivery. This won’t fully replace the centralized cloud; rather it will be a complement that can provide low-latency processing and content delivery for applications that require it. The rollout of consumer 5G networks in 2019 and 2020 will only accelerate this trend.

Public blockchains are also key to the development of these edge networks. The billions of devices interacting on the edge will not be part of a single network of a trusted devices, so there must be a way for them communicate securely and without pre-existing trust (i.e., a private network won’t cut it). The devices of these edge networks will also need a way to transact with each other, even if it’s in very small amounts (think of microtransactions as “tolls” for transferring data over these public networks). Transacting real value with non-trusted parties/devices again will necessitate a public blockchain. The answer is NOT for one company or government regulator to control the entire payment infrastructure of this IoT microtransaction economy — it must be public and transparent.

At Theta Labs, the team creating the first version of the content delivery and transactional layer of the coming edge networks. That will develop further as the Theta Network grows.

Twitter:

Source: @Theta_Network.

The first ever livestreamer on the Theta Network is live right now! Check out @TheDubpace live on @SLIVERtv360, where you can share his livestream over the Theta Network! https://www.sliver.tv/win/dubpace

Many more streamers coming to Theta-powered channels as the team gets ready for mainnet launch next month.

Source: @TheDubpace.

Social encounters

No updates.

Finance

Token holders and the number of transactions dynamics (from Etherscan.io)

With Theta Mainnet launch coming soon on March 15th, the team will be moving some Theta Tokens from their existing Theta Labs addresses to a set of new Theta Labs addresses. The tokens will be separated into multiple addresses to be used for staking by the multiple validator nodes on the Theta Network. Additionally, the team is implementing new security procedures that require them to not hold such large amounts of tokens in a single address.

Currently, the circulating supply of THETA stands at 710,502,689 based on CoinMarketCap’s (CMC) methodology. The difference between that figure and the total supply of 1,000,000,000 THETA is the balance in these three addresses controlled by Theta Labs:

https://etherscan.io/token/0x3883f5e181fccaf8410fa61e12b59bad963fb645?a=0x6863424c64081d69a9f23f780bb3c73dddbf15f6

https://etherscan.io/token/0x3883f5e181fccaf8410fa61e12b59bad963fb645?a=0x03e130eafab61ca4d31923b4043db497a830d2bd

https://etherscan.io/token/0x3883f5e181fccaf8410fa61e12b59bad963fb645?a=0xb65ad53b13b3c7a89527164fe69ccd56fceba1b9

The tokens in these three addresses were previously locked for periods ranging from six months to one year. In December 2018 the last of these tokens were unlocked, but because they have not moved from their addresses, they are not considered by CMC to have entered the circulating supply.

While these transfers will not constitute a material change to supply (all tokens will simply move from one Theta Labs address to another Theta Labs address), it’s possible that CMC may treat any tokens moved as newly-circulating supply (it’s unclear and the team is still waiting for a direct answer from CMC). Regardless, they need to move forward with procedures for mainnet launch. Since they know many users rely on CMC’s information, they wanted to announce these steps publicly so that there is transparency about what could look like a sudden increase in circulating supply. To minimize any volatility, they’ll be shifting the tokens over the following Mondays (2/11, 2/18, and 2/25).

Roadmap

March 2019 — Mainnet.

Phase 4: Native Theta Blockchain Launch

  • Q1 2019 (Planned)

Native Theta network launch on new blockchain

  • Q1 2019 (Planned)

Theta ERC-20 tokens exchanged 1:1 for Theta blockchain tokens

  • Q3 2019 (Planned)

Theta Network debut of premium on-demand content

Partnerships and team members

No updates.

Social media metrics

Social media activity

December 6th, 2018: Theta subreddit has moved to Theta_network. And telegram chat moved to ThetaNetwork.

Social media dynamics
Social media dynamics

Official Telegram group — discussions on testnet, price, possible partnerships, etc.

Facebook — 15–25 likes per publication, 1–5 shares.

Twitter — average number of retweets is 35–40 for one post.

Bitcointalk.org— since November 23rd, 2017. Discussion on price, roadmap. Last publication — on February 13th, 2019.

There is a slight growth in Theta community over time. The graph above shows the dynamics of changes in the number of Theta Reddit subscribers, Twitter followers, and Facebook likes. The information is taken from Coingecko.com. Twitter stats gone to 0 due to the new twitter account.


This is not financial advice.

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