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The Theta Network press service reported that Theta v3.4.0 update was successfully completed today. According to the developers, it was a key step towards the launch of Theta Metachain, which is scheduled for December 2022. The update was implemented at block height 17285755. Thanks to this, the wrapped THETA token (wTHETA) received support as a virtual asset of the TNT20 standard.
Representatives of the development team assured that from now on it can be used in Metamask and in any smart contract, as well as place THETA / TFuel on guardian nodes / elite border nodes. They thanked the validators who helped make the hard fork and network upgrade smooth.
According to the programmers, the update was crucial because it allowed the THETA token to be used in Theta-based decentralized applications (Dapps). In addition, staking THETA to Guardian nodes or TFUEL to Elite Edge nodes can now be done using smart contracts, simplifying the procedure and allowing users to create a wider range of staking products in the future.
Among other things, for the upcoming metachain update, wTHETA was vital. The fact is that the wrapped token is needed to register subchains and place a pledge in THETA for validators. According to the founders of the project, this means a significant increase in the usefulness of the THETA cryptocurrency and the entire ecosystem as a whole.
The developers also emphasized that the update brought them seriously closer to the launch of Theta Metachain. The product’s testnet went live a few days ago, allowing third-party developers to build their own scalable and customizable subcircuits.
Earlier, the editors of Crypto.ru reported: Sony Electronics has launched a new platform for non-fungible tokens (NFT) based on Theta Labs blockchain technology.
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