What is Terracoin (TRC) Crypto Beginner’s Guide
The world is constantly evolving and the financial industry is no exception. With the dawn of cryptocurrency came the endless possibilities of freedom from the current fiat currency banking schemes. All world fiat currencies are backed by the United States dollar on the basis that each country holds a portion of the United State debt in the form of foreign obligations.
The dollar is inflating every year as more dollars are printed to compensate the growing United States’ debt. The debt isn’t the only problem either. The wars in the Middle East currently have no end in sight, the prices in non-renewable resources will also wreak havoc on the economy. After all, high oil prices, means high costs for gas, electricity, transportation of goods, and so on.
Now, this may not seem like much of a problem currently to the average person, but eventually, this fiat currency bubble, like all past economic bubbles, will eventually burst. The fallout of such a burst will be even worse than the Great Depression of the 1930s. In fact, there is already a lot of chatter going on amongst various economist about another recession lurking on the horizon.
This fact alone has left many people pushing for change in their governments, new laws and regulations being passed, and in extreme cases, caused revolutions to occur. If you add in the current global tariff wars with China and the European Union, the future of our global economy has become even more uncertain.
The future of the United States dollar as a reserve currency has also been placed into question. Many countries are making plans to switch their paper fiat currencies into digital currency. While this may seem convenient it doesn’t alleviate the centralized banking problem.
This leaves people to question how the world can get away from fiat currency while still maintaining a stable financial system?
Terracoin: A Safe and Flexible Alternative for Fiat Currency and Bitcoin Users Worldwide
Terracoin hopes to take the ideals of Bitcoin and improve on them so that people won’t have to rely on any centralized entity in order to conduct basic transactions. In essence, Terracoin would be the first distributed cryptocurrency that gives installments to all users and businesses who take part in its community.
Terracoin offers a viable alternative to fiat currency while maintaining a self-funded and decentralized network. The goal of Terracoin was to give secure and flexible alternatives to both fiat currency and Bitcoin. This altcoin has been making strides to provide a welcoming community that helps new users understand how cryptocurrency works.
This type of alternative cryptocurrency allows anyone to take part in the community so long as their goals align well with Terracoin’s mission.
How Does Terracoin Work?
Terracoin operates on a Bitcoin-based blockchain. Cryptocurrency users can mine for the currency in massive masternodes called Terracoin faucets or through Proof of Work. These altcoins are freely obtained and then placed into a Terracoin wallet. You can also purchase Terracoins through one of the few cryptocurrency exchanges. The wallet currently works on Linux, Mac and Windows OS.
Another method of earning Terracoin is through mass mining pools and/or running a masternode. In order for someone to run a Terracoin masternode, they will need at least 5000 Terracoins.
Users will also need a low-end VPS or server as well as a computer with a running version of the Terracoin wallet.
Final Thoughts on Terracoin (TRC)
Terracoin is a friendly alternative to Bitcoin and other altcoins. It provides a secure alternative to fiat currency and is constantly developing as a platform. This altcoin is definitely worth investing in since this is how the altcoin stays decentralized and afloat compared to Bitcoin.