Mining Cryptocurrency Is Very Easy
Tags: Cryptocurrency, Business Development, Investment, Passive Income, Mining

Abstract

The existence of Cryptocurrency is increasingly recognized by many people in the world. This is one advantage of the blockchain technology that benefits can be enjoyed directly by the global community, and many other potentials of blockchain technology are still being explored and developed.

Generally, peoples are interested in cryptocurrency as an investment because the value of bitcoin continues to increase dramatically since a few years ago. The operation of bitcoin as the main cryptocurrency that is open-source is immediately followed by various other cryptocurrencies. All cryptocurrency operates on a blockchain basis. To operate, blockchain requires a Node that functions to verify each transaction. In general, every participant in a coin’s network is a node and performs certain actions according to the task. Nodes on blockchain networks are not bound and free, each node can join or exit from the coin’s network at any time. Without nodes, blockchain won’t work. For this reason, every cryptocurrency offers rewards for attracting nodes to join the coin’s network depending on the consensus method used by cryptocurrency itself

Generally, there are three types of consensus methods available, that is proof-of-work, proof-of-stake, and proof-of-service. but of the three available consensus methods, only proof-of-stake which results in a positive and profitable ROI.

Problem

On the other hand, New Altcoin (non-Bitcoin cryptocurrency) continues to appears. Generally, they appear with the mission of fixing bugs from the bitcoin network or offering new ways to mining and transactions process. But in reality, a lot of various problems that occur in Altcoin which continue to appear both existing or still in the ICO process.

Some of the problems that happening quite often are:

Mining is very difficult , Mining on cryptocurrency is a very complicated process, not only requires a computing device with a high specification but also the smartphone does not support to start the mining process. Most people don’t have high equipment and technical knowledge about the mining process on cryptocurrency.

, Mining on cryptocurrency is a very complicated process, not only requires a computing device with a high specification but also the smartphone does not support to start the mining process. Most people don’t have high equipment and technical knowledge about the mining process on cryptocurrency. High Transaction Fees , Transaction fees are a way to pay miners because they protect the transaction and as validation or consensus on the blockchain network. The most transactions can be processed without fees, but users who send transactions for free have to wait several days or weeks, even the fees can add up over time. In addition, transaction fees used in transactions only burden the network, and because these fees do not relate to the number of coins sent, the price may be very expensive.

, Transaction fees are a way to pay miners because they protect the transaction and as validation or consensus on the blockchain network. The most transactions can be processed without fees, but users who send transactions for free have to wait several days or weeks, even the fees can add up over time. In addition, transaction fees used in transactions only burden the network, and because these fees do not relate to the number of coins sent, the price may be very expensive. The Absence Of Ecosystem s, The absence of an ecosystem in a coin will only create a massive dump in the market. The absence of the utility of coins will make the value of the coin will go down and even make the value of the coin becomes worthless in the future.

s, The absence of an ecosystem in a coin will only create a massive dump in the market. The absence of the utility of coins will make the value of the coin will go down and even make the value of the coin becomes worthless in the future. Many Altcoin Projects End up Being a Scam, With various factors and reasons many altcoin projects that end up being a scam, so that many investors have suffered huge losses and it makes many investors have a bad experience of investing in cryptocurrency.

Terra Credit As a Solution

Terra Foundation has been present to solve all problems and challenges in the world of cryptocurrency. Terra Foundation has designed a cryptocurrency called Credit based on consensus Proof-of-Stake (PoS) to offer easy mining for everyone, PoS also offer payment systems based blockchain for a free and fast transaction, Credit is the answer to make cryptocurrency more accessible and flexible for everyone. In addition, the purpose of Credit is to facilitate online and physical payments on various different devices and is designed to be simple and relevant for anyone who has a basic computer or smartphone.

Technically, mining with Proof-of-Stake is faster and more efficient, everyone can do mining with easy. In essence, Credit uses Proof-of-Stake which allows each user to become a block producer. Proof-of-Stake also offers a scale relative to the percentage of blocks that can be confirmed with the Mining Rig itself, so the process will be adjusted to the number of coins owned by the user. Moreover, Proof-of-Stake also prioritizes the staking rewards according to the level maturity of coins.

Proof-of-Stake is a green solution because PoS does not consume large electrical energy. Generally, mining with PoS only requires lightweight computing devices, such as a home computer or even a smartphone device. So, anyone can do mining with easy and everyone will get the level of maturity of the coins that will be validated periodically.

Some other benefits of Proof-of-Stake are:

Coins that owned by holders do not need to be moved. The position of the coin will remain stored in the wallet itself so that the coin will be safe from attackers.

Reward from staking can be obtained by everyone, not limited to certain parties, so the impression is very friendly to everyone.

Easy management. The holders only need to save coins on the wallet client for staking and can stop the staking process at any time.

PoS able to solve the problem 51% attack because to be able to do this, an attacker must have 51% coins/tokens from a project that will require a very large cost with a very large potential loss too.

Future And Update

Credit has been listed on CoinMarketCap and available for trading

https://coinmarketcap.com/currencies/credit/

Based on Coinmarketcap, For now, Credit has an average price of $0,000020.

Terra Foundation has been decided to reduce total supply from 74 billion to 74 million, Credit will be swapped to the new Credit coins (Credit 2.0) on the 1st of August 2020. Swap ratio from old Credit coins to new Coins is 1000: 1 The exchange listing price of new Credit coins will be :

1 Credit = $1

Users/investors don’t need to take any technical steps because Swap will be automatic. Also, the new update will introduce TerraBit Masternodes, Other features also include desktop mining and easy Masternode management. This swap and update will give benefit to all credit users/investors. One of the main points is a decrease in the supply of credit in circulation, the limited total supply will increase the demand for Credit in the market. So that it will make Credit prices going up in the future.

Credit is different from other Altcoin projects, Credit has an ecosystem that will keep the value of the credit, not only offering easy staking with PoS but also the utility of credit as a payment system will increase demand for credit on the market, supply and demand will create an ecosystem that will keep credit prices stable at a high price and even possibly go up in the future.

How To Start Mining

The concept of mining of Credit is very easy and not difficult for everyone, it does not need expensive equipment and technical knowledge such as cmd, stratum, python, and does not need high CPU/GPU Specifications.

To start mining Credit, First, you need to have a credit wallet that can be download on the website https://terra-credit.com/wallet/

The wallet client supports Windows, Mac, and Linux Os. The wallet also supports smartphones, in Terabit you can install Apps for Android smartphones.

After you have a Credit wallet, Then you only need to buy some Credits on the market, and then you only need to store your Credit coins to the wallet client that already installed on your computer device or smartphone. You can enjoy a passive income without doing anything.

Conclusion

Credit is a consensus network that enables a new digital payment system. Credit is a decentralized peer-to-peer payment network that can be fully controlled by its users without any central authority or intermediary so that Credit functions like cash in the internet network. The purpose of Credit is to help people who don’t have a bank account or credit card. As a payment system, Credit can be used for anything according to what do you want, you can send Credit to friends and family (both local and overseas) buy goods online, receive salaries, and etc.

Also, Hardfork and updates will provide various kinds of benefits and advantages for everyone, a decrease in total supply will make the value of the Credit will be stable and have a high price, network update from Credit to Masternode will make an easier mining process, increase security, and make transactions faster.

Advantages of using Tera-Credit:

Easy mining , Most Altcoin projects, for staking coins/tokens (PoS/PoW) they just support wallet clients for computer devices only and do not support smartphones. If you don’t have a computer device, Terra Credit allows you to mining cryptocurrency by just basic smartphones. Terra credit provides a wallet app for android smartphones, so you can do mining easily without a computer device.

, Most Altcoin projects, for staking coins/tokens (PoS/PoW) they just support wallet clients for computer devices only and do not support smartphones. If you don’t have a computer device, Terra Credit allows you to mining cryptocurrency by just basic smartphones. Terra credit provides a wallet app for android smartphones, so you can do mining easily without a computer device. Fast Transaction , Credit has been designed with frequent block production rates, with thousands if not millions of nodes all producing blocks at the same time. Credit can handle millions of transactions in one minute so that every transaction with credit will be instant.

, Credit has been designed with frequent block production rates, with thousands if not millions of nodes all producing blocks at the same time. Credit can handle millions of transactions in one minute so that every transaction with credit will be instant. Low Transaction Fees , There are no high fees for sending or receiving Terra-Credit, and most wallet clients have made it possible to control the cost when making a transaction. Credit transactions are truly instant and fees equal to 0 credit, the reason is that the base fee for each transaction is 0,0001 Credit and unlimited payments can be added to one transaction.

, There are no high fees for sending or receiving Terra-Credit, and most wallet clients have made it possible to control the cost when making a transaction. Credit transactions are truly instant and fees equal to 0 credit, the reason is that the base fee for each transaction is 0,0001 Credit and unlimited payments can be added to one transaction. Payment System without limitation , As a payment system, Credit Allows you to send and receive money instantly anywhere, anytime, without limitation or any restrictions. Terra-Credit gives users/holder complete control over their money.

, As a payment system, Credit Allows you to send and receive money instantly anywhere, anytime, without limitation or any restrictions. Terra-Credit gives users/holder complete control over their money. Low Risk , Transactions with Terra-Credit are very safe and do not contain personal information. This protects all users from loss due to fraud or manipulation.

, Transactions with Terra-Credit are very safe and do not contain personal information. This protects all users from loss due to fraud or manipulation. Security and Control , As a payment system, Terra-Credit Users have full control over their transactions. It is not possible for sellers to make unwanted or unnoticed bills as can be the case with other payment methods. Payment with Terra-Credit can be made without including a personal identity for the payment process. This provides strong protection from identity thieves. Terra-Credit users can also protect their money with backup and encryption.

, As a payment system, Terra-Credit Users have full control over their transactions. It is not possible for sellers to make unwanted or unnoticed bills as can be the case with other payment methods. Payment with Terra-Credit can be made without including a personal identity for the payment process. This provides strong protection from identity thieves. Terra-Credit users can also protect their money with backup and encryption. Neutral and Transparent, All information related to the Terra-Credit currency supply stored on the blockchain can be seen by the public in real-time. This is very useful for people who want to verify their wallet address or transaction. There is no individual or party who controls and manipulates the Terra-Credit protocol because it is cryptographically secured. This makes Terra-Credit completely neutral and transparent.

Coin Specification

Algorithm: Scrypt

Block type: Proof-of-Work/Proof-of-Stake

Coin name: Credit

Coin supply: Total supply will be reduced from 74 billion to 74 million

Premine amount: will be 30800000 coins

PoS percentage: 100% per year

Last PoW block: block 10000

Min. stake age: 8 hours

Max. stake age: Unlimited

Coinbase maturity: 20 blocks

Target spacing: 60 seconds

Target timespan: 60 seconds

Transaction confirmations: 6 blocks

Node 1: 159.65.107.185

Node 2: 206.189.195.40

(Note: This Coin spec information may change after Hard Fork and updated)

Company HQ

Nelson Mandela Square. West Tower, 2nd Floor, Maude Street, Sandton, Johannesburg, South Africa, 2196

Phone: + 2711 881 5566

Email: info@terra-credit.com

Website: https://terra-credit.com/

Github: https://github.com/CREDIT-2-0/TerraCredit

Dev and Team

Terra Foundation is built by people who are professionals and have high credibility, developers and teams have experience and expertise in their respective fields.

Social Media

Facebook: https://web.facebook.com/terrabitofficial

Twitter: https://twitter.com/terracredit

Linkedin: https://www.linkedin.com/company/terra-bloockchain/

Telegram group: https://t.me/terracredit

Youtube channel: https://www.youtube.com/channel/UCPuDgHaN3yKPP945YfLQkcg

Whitepaper: https://terra-credit.com/wp-content/uploads/2020/03/whitepaper.pdf

Writer: Mbahokey

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=978568

Proof of Authentication: https://bitcointalk.org/index.php?topic=5260785.msg54874207#msg54874207