Leading crypto exchange company Binance, announced it has successfully launched their validator node on the Theta Network. a decentralized video streaming platform. 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.
For 2020, a key focus area for the Theta project is the 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.
Binance also enables its user to participate in staking, and to that end, has too 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.
Validator Nodes
Another top priority for Theta is the decentralization of validator nodes. These core nodes of the Theta protocol propose and produce new blocks in the Theta blockchain. Significant progress is being made with now Binance, Blockchain Ventures, gumi Cryptos operating validator nodes.
Vision for Theta Enterprise Validator Nodes and governance includes:
- A diverse set made up of global enterprises with long-term strategic views of blockchain technology.
- Crypto-native entities with a vested interest in blockchain projects succeeding.
- The broader Theta community, through community-operated guardian nodes that serve as validator nodes on a rotating basis.
“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!”
– The Theta Network Team
