Binance launches Enterprise Validator Node on Theta Network, joining Blockchain Ventures and gumi Cryptos

Binance, the world’s leading global crypto exchange, has successfully launched their validator node on the Theta Network. By running an Enterprise Validator Node, Binance joins other global enterprises such as Blockchain Ventures and gumi Cryptos in securing the Theta blockchain and is participating directly in Theta block production.

As we enter 2020, one of the key focus areas for the Theta project is decentralization: of governance, protocol design, and development just a name a few aspects. That takes many different forms including community-operated Guardian Nodes and open-source tools to allow anyone to develop on the Theta Network. Another important aspect is decentralizing the Validator Nodes — the core nodes of the Theta protocol that propose and produce new blocks in the Theta blockchain. Significant progress is being made with Binance, Blockchain Ventures, gumi Cryptos, and a yet-to-be-named Global 100 tech company now operating validator nodes on the Theta blockchain.

Binance is well-known as a leader and innovator in the blockchain space, and in addition to its market-leading exchange it operates the incubator Binance Labs, decentralized exchange Binance DEX on Binance Chain, and the BNB exchange token among many other ventures. Binance has also taken a leading role in staking protocols, and to that end has also announced that all users holding THETA tokens on Binance will have the option to stake their tokens to the Binance validator node, earning the user Theta Fuel (TFUEL) rewards for their participation in staking on Theta Network.

Our ultimate vision for Theta Enterprise validator nodes and governance is made up of:

• a diverse set made up of global enterprises with long-term strategic views of blockchain technology (examples: gumi Cryptos, and another yet-to-be-named entity that has already launched their validator node on Theta Network)
• crypto-native entities with a vested interest in blockchain projects succeeding (examples: Binance and Blockchain Ventures)
• the broader Theta community, through community-operated guardian nodes that serve as validator nodes on a rotating basis (in beta on the Theta testnet, and coming soon to Theta mainnet as part of Theta Mainnet 2.0 in March)

We see it as an absolute necessity that the Theta blockchain continues to decentralize its governance, moving steadily toward a future where video platforms, blockchain companies, Theta community members, Theta Labs, and other stakeholders contribute to network decisions. With no single entity or group holding a controlling stake, the Theta Network will operate in a trustless, fair, and decentralized way that ensures all users are fairly rewarded for their network contributions. We look forward to continuing that transition with more Enterprise Validator Nodes, and the launch of Theta Mainnet 2.0 in March!

Cheers,

the Theta team