Theta Network Postpones 3.0 Mainnet Launch

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In Brief
  • Theta will delay its 3.0 mainnet launch till June 2021.

  • The extended launch date will give the team extra time to perfect its implementation on new features.

  • Theta aims to launch its own NFT marketplace.

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The Theta Network decentralized video streaming platform announced that its 3.0 mainnet launch is getting pushed back to June 30, 2021.

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The anticipated mainnet launch of Theta 3.0 was initially scheduled for April 21, 2021.

Theta Postpones 3.0 Launch

It’s now moved the launch date to June 30, 2021. According to Theta, the postponement will enable it to apply the finishing touches before going live. The team aims to ensure that one of the vital introductions, the Edge network, functions and scales effectively.

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Theta’s mainnet 3.0 will feature fresh additions including Elite Edge nodes and TFUEL staking and burning. Mainnet 3.0 will introduce additional costs for using the Edge network. This fee will serve “as a balancing force against new TFUEL supply.” At least 25% of this cost will be burned, leading to reduced supply overtime.

Edge nodes will attain the status of Elite Edge nodes when they stake TFUEL. Elite Edge nodes can also earn more TFUEL on the staked amount.

The decentralized peer-to-peer delivery network first announced plans to release the new mainnet last December. Its mainnet 2.0 went live in May 2020 and Theta recorded a massive increase in nodes in the build-up to its launch.

New NFT Marketplace

Non-fungible token (NFT) markets have experienced explosive growth in interest. This booming market is something that Theta has its eyes set on.

It plans to introduce its zero-fee transactions and proof-of-stake blockchain to the NFT space. This will facilitate cheaper transactions, as Ethereum’s high fees pose a huge barrier.

Theta plans to integrate the NFT marketplace with the incoming mainnet 3.0 launch. It cited this as one reason for its postponement. The marketplace will be cross-platform compatible to enable asset transfers and integration with other blockchains.

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Daniel is an avid blockchain and cryptocurrency enthusiast. He gained interest in the digital asset space in 2017. Since then, he started writing educational content to spread the word on the distributed ledger technology.

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