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
I show here Terra Credit
Terra Credit one of the decentralized payment platforms wich allow users to send and receive payments without the need for a trusted third party, However, there needs to be an intermediary to manage transactions and prevent double spending.
TerraCredit (CREDIT) to offer free and fast Blockchain based payments. Credit employs Proof of Stake which allows any user to become a block producer. Block producers support the network and get rewarded with new coins for doing so, this function replaces traditional mining which is expensive and complicated.
Terra Credit has Cryptocurrency that aims to be a decentralized Digital payment solution to the worlds unbanked adult population, Terra Credit is does everything automatically so creates a legitimate and passive income stream without the need for expensive equipment and technical knowledge.
The Terra Credit desktop wallet was built with this principle: if you have a minimum of 10,000 CREDIT coins in your wallet and access to the internet, you can become a block producer. Everything is automatic, all it takes is one click. Block producers are getting paid with newly mined coins instead of transaction fees. Our transaction fee is virtually nothing. Terra Credit will not be doing an ICO or fundraising.
conclusion
Terra Credit offers free, fast and secure blockchain payments. Many different cryptocurrencies have been introduced to solve and address many different issues. Miners around the world are facing challenges; high-level technical knowledge is needed as are expensive machines and constant electricity.
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To get more info, please visit some of the sites below:
Website:https://terra-credit.com/
Whitepaper:https://terra-credit.com/whitepaper.pdf
Facebook: https://www.facebook.com/pg/terracreditptoject
Twitter:https://twitter.com/CreditTerra
Telegram: https://t.me/terracredit
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