TerraCredit — A truly decentralized payment platform and The Complete Financial Solutions Ehancing Global Utilization of Cryptocurrencies
--> The blockchain technology sprout forth with bitcoin and other major coins, but along the line the vision of mass adoption of cryptocurrencies seems impossible with the blockchain structure and consensus protocol upon which these networks were built on. Common setbacks among these major networks are low transaction throughput, high resources required to maintain the performance of their blockchain networks and last but not least, low scalability further hindering the vision of Satoshi Nakamoto in creating a peer-to-peer digital currency that could be used globally.
--> A Blockchain ensures the longest chain is always followed and serves to prove as the consensus of the majority of nodes, in a Proof of Work environment this system is flawed because of its reliance on computational power. The blockchain is of the solution, the decentralization of network nodes is crucial to ensure long term safety of the network.
Blockchain propose Proof of Stake as a better alternative that does not decide the longest chain based on hash power, instead, wallet balance and coin maturity are used to determine the next producer. This is very valid in every payment platform
Many solutions have been proposed by other blockchain networks, but I think TerraCredit is one of the solutions that really stands out, considering the enthusiasm of the team towards this project as well as the efforts put in motion towards the realization of their goals.
A Blockchain ensures the longest chain is always followed and serves to prove as the consensus of the majority of nodes, in a Proof of Work environment this system is flawed because of its reliance on computational power. The blockchain is of the solution, the decentralization of network nodes is crucial to ensure long term safety of the network.
About Terracredit:
Terracredit is a decentralized blockchain network that has stood the test of time against any 51% attack, ever since it was launched into this space, over a year ago. It’s consensus protocol and design grant its users an extremely fast network when executing transactions at a very low cost. The global adoption and use of cryptocurrencies can really come into play if blockchain enthusiasts are creating payment system similar to already existing fiat solutions, yet highly optimized ones for sure. Terracredit has made it possible for users to have access to their funds on all smart devices and operating systems through the cryptocurrency wallets. Both desktop and mobile wallets come with a simple yet attractive user interface to enhance user experience as people interact with it. With no prefunding of any form being it ICO/IEO, the team has developed several MVPs which are working smoothly and this is very uncommon in this industry, where some team members raise huge amounts of money, yet are not able to even fulfill just an atom of their whitepaper. This team has developed products like Terrabit, Terra-mart, Terra-hub and fully operational credit card payment for Nigeria, Paystack which executes transactions automatically without any influence from third party systems.
Terracredit - Credit swap
Credit swap is going to cut the total supply of Credit coin from 70 billion to 70 million, The ratio of the swap is 1000:1 in favor of the new coin. This simply means for every 1000 coins of the old coin; you will get 1 of the newly minted coin. hence increasing the demand and scarcity of the coin. Put together all the use cases such as Terra-mart, Terrabit, Terra-hub etc. making use of the coin on its various platforms and you can guarantee how liquid this coin will be. The better part of this comes to play as the new blockchain network has a proof-of-stake as its consensus mechanism, hence the launch of masternodes.
All you have to do is simply send Credit coins to Terra-bit.io and they will be automatically exchanged for you to the new coin. This will be the sole medium of exchange for this swap; hence community members are to adhere strictly to this guideline and make sure they move their coins within the period stated above.
Conclusion
Credit is a complete financial solution that has emerged in this industry, considering the decentralized real time payment system that it offers as well as its masternode system, which also makes it an asset to invest in for the long run. Compared to other payment solutions that have been deployed in Africa, Terracredit has created automated fiat/crypto credit card payments, which also allows automatic bank withdrawals, making it the leading blockchain payment solution in Africa.
TerraCredit team proposal of making the Credit App based wallet a viable replacement for centralized mobile money and cash at the same time is clearly a bold statement. However, when analyzing in depth, one actually realizes that Credit already offers virtually free and instant payments, which can be sent anywhere in the world, as well as a wallet which passively earns its owners more coins. It’s clear that the team’s objective of making Credit user-friendly and rewarding has already successfully been achieved.
Backed by an innovative and hardworking group of professional team members, this project is geared to establish trends in the nearest future. It will undoubtably be great and rewarding to be part of the early adopters.
https://terra-credit.com/
https://terra-credit.com/wp-content/uploads/2020/03/whitepaper.pdf
https://t.me/terracredit
https://twitter.com/terracredit
https://www.facebook.com/terrabitofficial/
https://www.youtube.com/channel/UCPuDgHaN3yKPP945YfLQkcg
https://www.linkedin.com/company/terra-bloockchain/
Author: cuongspkt89
https://bitcointalk.org/index.php?topic=5260785.msg54780987#msg54780987