Review Terra Credit: Advanced technologies make credit a powerful tool

About TerraCredit

Credit is a cryptocurrency for making digital payments. The project developers plan to reach adult citizens in all countries who do not use conventional banking products and services. The volume of this market is estimated at $ 50 trillion. It is planned that the Credit coin will become a replacement for regular money, especially beneficial for newcomers to the crypto market.

The Credit Platform (CREDIT) is a development from Terra that is used to provide instant and near-free blockchain-based payments. At the same time, the Credit desktop wallet allows block producers to receive rewards for maintaining the blockchain without investing in expensive hardware.

Advanced technologies make credit a powerful tool

CREDIT is a Proof of Work (PoW) and Proof of Stake (PoS) hybrid blockchain and since block height 10 000, it has become strictly PoS. Our blockchain network selects block producers based on coinage and balance, in comparison to PoW blockchains where computational power determines success in block production. PoS is the next step in cryptocurrency evolution which promotes true decentralization by improving accessibility.

The end goal of Proof of Stake (PoS) is identical to that of Proof of Work (PoW), they both seek to validate transactions and achieve network consensus. It’s just their processes that are different. The biggest advantage that POS has over POW is that it is much less energy-intensive because hash power plays no role in success as a producer. This solidifies the decentralization of the Credit blockchain by removing equipment cost and expertise barriers which allows us to welcome thousands of non-technical block producers.

Zerocoin Protocol
Terra-Credit can provide full privacy to its users via the Zerocoin protocol. This coding features a rich and highly customized implementation. Specifically, the protocol converts publicly view-able CREDIT into anonymous CREDIT. Best of all, these privacy features function in the background requiring no extra steps from users

SwiftX
Terra-Credit developers wanted to ensure that the coin was able to handle large scale adoption. To guarantee the abilities of the network, they introduced the SwiftX protocol. This next-generation coding can confirm transactions within seconds. The protocol utilizes masternodes to remove the need to wait for network confirmations.

Code Base: PoS 3.0 Bitcoin Core 0.10.x
Notably, Terra-Credit is among the first cryptocurrencies to be based on the version 0.10 Bitcoin codebase. This strategy allowed developers to eliminate issues encountered by similar projects. Specifically, the new protocol does away with coin age issues and introduces network strengthening measures.

Token:

This is a very important part that I think you should be very focused on because terracredit is making some important changes in their own ecosystem. For the CREDIT token, I will briefly explain the following:
+ Initially, the terracredit token had a supply of 74 billion tokens, and it was also traded on various large and small exchanges.
+ But in the near future CREDIT tokens will be redeemed at a ratio of 1/1000. And from there we will see that the new supply of CREDIT will be 74 million.
And it is also a very noticeable point in the near future, namely the swap process will take place on August 1, 2020.

Conclusion

The Terra app wallet will be a replacement for cash, allowing instant digital payments across multiple devices. It is planned to introduce all new technologies: contactless payment, QR-scanning, etc.

Terra will facilitate trade using Credit in exchange for goods and services. For the user, in comparison with cash, the advantages of such a payment are obvious: security, transparency and preservation of the value of the currency.

In the future, it is planned that everyday transactions using Credit will be carried out not only with the participation of large corporations, but also small enterprises, as well as between ordinary users.

More information:
Website: https://terra-credit.com/
Telegram: https://t.me/terracredit
Twitter: https://twitter.com/terracredit

Author: thanhtrasjba
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