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INTRODUCTION
As the day goes by, more people keep losing their interests in banks and other related financial systems, that is to show how inefficient and flawed the banking system has become.
It was designed to be centralized, with old technologies which makes it incapable of handling the influx of transactions of the users, leading to different issues such as slow speed of transactions, long time of wait, absence of security and even costly transactions, all of which is chalked up to the fact that the banking system are ill-equipped to meet up with the growing population.
On the other hand, the recent happenings in the digital space today will reveal what we already know, that the entrance of cryptocurrency into the digital system has given the financial system, the boost that it needs to improve lives all over the world.
Despite the values attributed to the use of cryptocurrencies, it still needs to reach the grasp of the global masses, so that they can have a taste of transactions, with this digital medium of payment called cryptocurrency.
To do that, TERRA PLATFORM was developed.
TERRACREDIT AND ITS FEATURES
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TERRACREDIT platform has been created to be an efficient and decentralized system which will serve as a better alternative to the banking system and a substitute to the inefficient cash.
It intends to help the world achieve a more improved financial system on the global scale and also facilitate the global adoption of cryptocurrencies.
TERRACREDIT platform is designed to make cryptocurrency transactions to be very fast, more secure than cash transactions, more lucid and all at a very negligible cost.
It will make this dream come true through the use of the Blockchain technology, as it has even created its own Blockchain called the Credit Blockchain.
Just like a modern digital bank, Terra credit would function as it assists all user of cryptocurrencies and people who are not so sure about their stand for crypto. This concept is one that is made to expose the unbanked people to a trusted platform where they can begin to relate financially without them needing the traditional banks anymore. As the foundation behind this platform has envisioned, the platform would help open up cryptocurrencies to more usability in the real world so that the adoption can also increase and the way it plans to reward the users too will keep them glued to the digital way of operating and using digital assets. Terra credit is very friendly to the extent that businesses can easily associate with it and then begin to accept Credit token as payment.
Terra has been designed with a lot of alluring features which will help users make the best out of the cryptocurrency industry, so to further understand the benefits which the Terra platform has opened to the users, we will talk about...
TERRA CREDIT AS A BOUYANT CURRENCY
This platform as decentralized network has a token called Credit which is perfect as a crypto asset to be used in the blockchain. It has an open source and fulfils all the conditions necessary to make any token useful in the digital world. It would bring about improvement and will continue to impact the lives of many unbanked and traders in the community. On account of the use of Credit, users are going to be able to conduct faster transactions and be in charge of their transactions. The token offers them simplicity and secure the block production process. There is so much to achieve just by using the platform. It encourages the profitability of traders in it so much that they can trade from any device since the platform is compatible with so many devices to allow exchange transactions from them.
THE RELEVANCE OF TERRA CREDIT'S PROOF OF STAKE
Unlike the Proof of work which first existed before the Proof of stake, the later is used by Terra and it helps it more in terms of overcoming the challenges associated with mining, one that cannot be controlled by using the PoW. It would only take PoS for any platform to be successful because by it, they become reasonable with the cost charged for transactions just like Terra is. It will never cause the platform or the users to be disadvantaged in any way. So the idea of perfection as seen in the platform has so much to do with the way it adopts the proof of stake algorithm.
Already have your Terrabit and wants to swap to a new one, the pictorial presentation below will give you an insight;
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AMAZING DESIGN OF THE TERRA
- Terra platform is made to be decentralized just like the Blockchain technology with which it was built.
Decentralization will help ensure that the power is not given to anybody, but the entire users of the system, thereby curbing the problems faced by users on centralized systems.
This makes it superior to the regular banking system because the activities on the system and its operation is beyond the control of a central body, rather the users of the system are in charge of its operations.
The team of the TERRACREDIT can show how decentralized it is, seeing as they are made up of mere users who are committed to the system.
- Every operation on the Terra Platform and with the Credit token, is very lucid due to its use of its own Blockchain.
With this, the user's information and transaction details are kept safe on the system beyond the reach of hackers, and the information is available anytime a user needs access to them.
- The decentralization of the Terra system makes it that there is a guarantee of security on the system.
The users are custodian of their own assets, because they are able to seamlessly store it on their wallet, having control of their private keys and without this, hackers cannot steal user's funds.
To make its system more secure, the Terra Platform has even created a cryptocurrency wallet, where any user can store their digital assets.
- Making use of the Terra Platform or even its Credit token is designed to be very easy, user-friendly and interoperable.
That means that any system can seamlessly integrate the Credit Blockchain into their framework, and any individual can carry out transactions using the Credit token.
This will obviously lead to the global adoption of the cryptocurrency and the Blockchain, with ease.
Users can easily find their ways around the Terra Platform, and efficiently use it in carrying out transactions as it is made to be user-intuitive.
THE CREDIT TOKEN
As a vital part of the system, the Terra platform now has its own token built on the Ethereum Blockchain.
The Credit token is the native token of Terra platform and is the tool which facilitates seamless and fast payments on the system.
Users on the platform also earn staking rewards as well as other rewards with the Credit token.
CONCLUSION
All these are just a few of the features of the Terra platform, which are the true attributes of the cryptocurrency platform.
The global adoption of cryptocurrencies is now in sight because the Terra system provides a one-stop shop for everything crypto, as it serves as a cryptocurrency platform, with its own Blockchain and a native cryptocurrency for transactions on its system.
Terra Platform has indeed made life easier for the global users, giving the full access to the cryptocurrency industry.
USEFUL LINKS
Website: https://terra-credit.com/
Whitepaper: https://terra-credit.com/wp-contentcontent/uploads/2020/03/whitepaper.pdf
Telegram: https://t.me/terracredit
Twitter: https://twitter.com/terracredit
Facebook: https://www.facebook.com/terrabitofficial/0
YouTube: https://www.youtube.com/channel/UCPuDgHaN3yKPP945YfLQkcg
AUTHORS DETAILS
Bitcointalk Username- Heroalt
Bitcointalk Profile link- https://bitcointalk.org/index.php?action=profile;u=2768763;sa=summary
POA: https://bitcointalk.org/index.php?topic=5260785.msg54916234#msg54916234