Telcoin’s Mission
Telcoin aims to provide customers with fast and affordable decentralized financial products through blockchain technology. They are partnered with telecom and mobile money providers to successfully supply the 5.2 billion active users in the Telcoin community with DeFi products at a global scale.
What Are The 4 Telcoin Components?
TEL Token
TEL is Telcoin’s native token, which is used as the medium of exchange across the different layers of the Telcoin platform. Established in July 2017 in Singapore by Paul Neuner and Claude Eguienta, TEL has a max supply of 100,000,000,000, with 59,093,582,611 circulating.
The Telcoin App
The Telcoin platform has an innovative financial application for mobile phones. This offers Telcoin users features such as a multi signature Ethereum wallet and traditional banking options to send money.
You can store your crypto on the Polygon network, access remittance services, trade digital finances and conduct fiat money transfers from your bank account as a Telcoin phone user. The app now supports remittance from Canada and the US to 16 countries.
TELx (Liquidity Engine)
The Telcoin team has created a network of automated DeFi markets. This enables their financial products to execute automatically without custodians at a much cheaper price than traditional services. With this network the platform is able to power the variety of services offered by Telcoin.
Rivendell
This is a settlement network providing fast and safe transactions for the Telcoin ecosystem. Currently in development, this uses an Ethereum based side chain validated by mobile network operators. The network has been described to further ‘enhance processing speed, empower self-custodial financial services, and offer transparency ’.
The Team Driving Telcoin
Telcoin has a team spanning across the globe with extensive experience in blockchain, tech, finance and other crypto related sectors. With Paul Neuner as the chief executive officer, there are a range of other professionals on the team assisting with their financial products. This includes professionals such as Rajesh Sabari as chief commercial officer, Tim Mahota as general counsel & chief compliance officer, and Parker Spann leading EVP, business development and strategic projects.
How To Buy Telcoin
TEL is available on various exchanges such as Kucoin, Indodax, Bybit and Uniswap. Storing your crypto assets on exchanges means that you do not need to have the private keys. These are used in crypto transactions to present ownership of a blockchain address.
Stay Up-To-Date With Telcoin
You can stay in the loop with their upcoming projects by connecting with their social platforms and visiting their website below.
Website: https://www.telco.in/
Twitter: https://twitter.com/telcoin_team
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Episode One
In Episode One we discuss the question: What is Cryptocurrency?
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Episode Two
In Episode Two of Cryptopulse we discusses the pros and cons of buying Bitcoin.
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What is Litecoin?
WHAT IS LITECOIN?
Lіtесоіn (LTC оr Ł [1]) is a рееr-tо-рееr сrурtосurrеnсу аnd open ѕоurсе software project released under MIT/X11 lісеnѕеѕ. Crеаtіоn аnd transfer оf соіnѕ іѕ bаѕеd on an ореn-source сrурtоgrарhіс рrоtосоl and іѕ nоt mаnаgеd bу аnу сеntrаl authority. Whіlе inspired bу, and in mоѕt regards technically almost іdеntісаl tо Bіtсоіn (BTC), Litecoin іѕ far quісkеr аnd cheaper.
At the time of writing this article (2nd Jan 2018), Litecoin sits at $254 per coin.
How much is Litecoin worth?
On December 18th 2017, Litecoin reached its all-time high, $360.93, which, when compared to the price one year before ($4.40), was an incredible 8200% rise. This is wholly reflective of a booming cryptocurrency marketplace, whose total market cap ballooned from $17.7bn to around $650bn in just one year, an increase of over 3,600%.
Where can Litecoin be used?
Litecoin is frequently compared to Bitcoin, which functions almost exactly the same, aside from the cost of transactions, which are around 1/50th of the size. For many cryptocurrency traders and users, Litecoin pricing acts more rationally than Bitcoin, and with a more sustainable future.
As we see some online stores begin to accept cryptocurrencies, we will see it possible to buy jewelry, groceries, clothes, electronics and more. Since the value of Litecoin is determined by demand on currency trading websites like Bittrex, Binance, GDAX, and Coinbase, it is possible to envision an online shopping platform where the price of products constantly changes to reflect the value of the accepted coins.
As well as trading and purchasing, it is possible to mine this crypto, though this is a very technical activity and requires a decent amount of computer knowledge. A good computer is enough to mine coins very slowly, but a serious miner would use processing units that rapidly solve mathematical equations that support the blockchain.
Trading Litecoin
The rise in popularity of Litecoin and other cryptocurrencies is largely in response to the demand for alternative currency options that separate themselves from centralised banks and governments. The other side of the demand is from traders and investors who have realized the massive potential that cryptocurrencies have to offer, and so many stock and forex traders have changed market (remember, the market grew from $17.7bn to $650bn in one year). Cryptocurrency is arguably easier to enter for traders, meaning that in 2017, millions of beginners, as well as seasoned traders, began buying and selling different coins.
Litecoin as a worldwide tool
Litecoins can be used anywhere (though illegally in some nations), by anyone. The fees experience by Litecoin users are lower than those of credit card companies and bank transfers. As an example, one person in France can send a payment to someone in China in seconds, with both parties receiving proof of the transaction (which will be stored on the blockchain). Litecoin was designed to enable quick and cheap payments that are as simple as sending an email.
How many Litecoin are there?
There can only ever be 84 million Litecoins, and as it stands, 55.58 million have been released or mined already, meaning almost 30 million coins are still fair game for miners. The figure of 84 million was based on the 21 million limit of Bitcoin, and the fact that Litecoin was designed to be 4x faster than Bitcoin.
A fixed amount of coins also means that inflation will not affect the overall value of the currency, unlike currencies such as the dollar, pound or euro. For forex traders who feel that a currency might drop in value, they may purchase Litecoins and hold on to their investment before selling back into their currency (hopefully at a profit). External influences (such as governments) can manipulate the value of their currency through inflation and quantitative easing, but the same cannot be done with Litecoin, making it more sustainable long term.
Who created Litecoin?
Litecoin was created by Charlie Lee in October 2011. Lee is a former employee of Google, who designed it to complement Bitcoin by solving some of its issues, like transaction times, fees, and concentrated mining pools. Charlie Lee took the core code from Bitcoin and made his modifications to the code and protocol to work in a way that he felt would best allow for the large-scale adoption of the currency.
One of the main goals was to reduce block confirmation timings from 10 minutes to 2.5 minutes, so that more transactions could be confirmed. This made Litecoin 4x faster than Bitcoin. Each 2.5 minutes, a Litecoin block is mined, and 25 coins are generated. This means that at the moment, 14,400 Litecoins are being mined every day, the maximum amount possible.
Conclusion
Litecoin has so much scope for growth, potential uses, and wide adoption. Right now, we must observe which companies begin adopting it and accepting transactions for their products and services. Other than that, the future of Litecoin is anyone’s guess.
