Tech company Blockchain Ventures has partnered with and invested in the Theta blockchain.
The Theta Network announced the news on its Medium blog page, stating that Blockchain Ventures – one of the world’s largest cryptocurrency wallet providers – has deployed the first enterprise validator node on its mainnet.
Having a validator node running on the mainnet means that Blockchain Ventures will participate in Theta’s consensus by proposing and validating new blocks.
Blockchain Ventures has staked two million of its own Theta tokens to its validator node and is now contributing to the overall security of the Theta Network.
As a result, Blockchain Ventures will receive Theta Fuel for every successful block added to the Theta blockchain.
At present, Theta Labs operates the bulk of the validator nodes on the network. However, over time, it is aiming to reduce its influence to a non-decisive role in the governance of the protocol.
Theta Labs is currently working on establishing the second enterprise validator node with several additional nodes also in the works.
The second and third enterprise validator nodes will reportedly by run by two publicly-traded global companies.
“The Theta Network is solving problems in the video delivery space, enhancing the user experience and introducing blockchain tech to a new demographic,” says Samuel Harrison, managing partner of Blockchain Ventures.
“At Blockchain Ventures, we take an active role in advancing blockchain development with our portfolio of companies. Launching a validator node was a tangible way for us to add value to the Theta blockchain.”
Theta has also teased that it will soon be releasing details on how its guardian nodes will work and how they will be part of the Theta mainnet 2.0 initiative.
Interested in reading more Theta-related stories? Discover more about the Theta Network, Sliver.tv, and tokenised bandwidth sharing with Coin Rivet’s introduction to the topic.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.