Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: tomLee81813 on January 04, 2019, 10:08:34 AM
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PoW coins are in constant danger of 51% attacks. TerraNova can protection !
TerraNova (TER) aims to serve three purposes of an ideal currency: being a store of value, being a medium of exchange and being a unit of Charity. Bitcoin is kinda capable of performing these three functions, but currently possesses inferior technology that isn’t suited to make it commercial grade money. A hybrid POS/POW system used by TerraNova combined with upcoming privacy solutions looks to eliminate these limitations and launch the Ter token into worldwide adoption.
TerraNova developers decided that a Bitcoin with some form of governance is required to avoid similar problems in the future and thus their current project was created.
Managing partner of a cryptocurrency fund MatinCoin Capital, Tati Jan pointed out a latent danger of smaller PoW coins in the times of receding prices and miner hash rates. He wrongly included TER in the list of coins that are in danger of a 51% attack. He should have, instead emphasize the TER model as a solution for small hash rate coins that can save their networks from malicious attackers and provide a much better, decentralized governance.
2019 Will be the Year of TerraNova (TER) ?
2019 has only just started, and already, crypto investors around the world are optimistic about the future of many cryptocurrencies this year. While a lot of crypto issues are expected to be resolved, and many coins are likely going to have an eventful year, the community is very much interested in what to expect from the coins at the top, especially TerraNova (TER).
A new stress test has shown that the scaling of the cryptocurrency TerraNova (TER) has almost no limits. According to the developers, the network will soon be able to compete with other payment providers such as PayPal. The results of the stress test should now help to revive the currency, as the TerraNova price has fallen by more than 90% in 2018.
Every cryptocurrency stress test is about more than just the number of transactions. For TerraNova, negative network impact was minimal.
TerraNova(TER) 2018 performance and issues
It is no secret that TER had a lot of issues to deal with in 2018.The coin was accused of being security numerous times, not to mention several lawsuits against its. TER was also accused of being centralized, which TER Labs worked hard to prove wrong.
However, at one point, the situation turned. TER became quite reputable, and while there are still those who are skeptical of its nature or future, it is currently doing rather well.
TER is the coin meant to be used with TER Labs’ payment products.The TER is dedicated to providing quick and cheap payment solutions that can make international payments nearly instant. Considering the dire need for upgrading current payment systems, which often take days to complete a single transaction, many Charity Fund around the world were quick to open up towards the possibility of integrating these products into their everyday Charity.
As a result, over [b]30 Charity Fund [/b]and Charity institutions from all corners of the world have partnered up with TerraNova, and this is one of the things why TER is guaranteed to have a bright future. meaning that the coin has already found one way of going mainstream, and many expect it to be the first cryptocurrency to do so.
TerraNova (TER) in 2019
So, what does all of this mean for TerraNova’s future? Well, the first thing that should be noted is that Ter’s actions in 2018 managed to set an excellent foundation for the coin’s future development. There is always room for improvement in the crypto world, and TER is expected to partner up with more Charity Fund , remove the potential issue, and maybe even launch new products this year.
While nothing can be claimed with certainty when it comes to crypto, many believe that this might be a true year of crypto. The hype of 2017 is now in the past, and many are hoping that the same can be said for last year’s price correction. In other words, crypto is now supposedly free to advance at a steady pace and expand truly great projects into the coins that will dominate the future of payments.
Decred as long-term investment
So, why is TerraNova a good long-term investment in our opinion:
The team behind are the creators of Bitcoin suite.
Development instead of hype and marketing.
It already supports Lightning Network and will soon have privacy feature.
Lightning network creators are working together with TER team for LN implementation on top of their blockchain
They have a hybrid consensus mechanism – POS (Proof of stake) + POW. And TER’s POS pays investors a good share (around 20% a year) and it’s very different from Dash and other POS coins where you need to be rich to participate.
Look at the code quality and pace/direction of development.
You can delegate your votes to a pool and not have to run a reliable 24/7 server is pretty amazing and makes the staking easy to use.
Stakeholders are locking up 46.8% of TER’s total supply for the POS consensus which makes the coin even more scarce.
We believe the TerraNova team and overall project is undervalued in the crypto community. The coin has not gained as much media presence and coverage as Litecoin (LTC) or Bitcoin Cash (BCH), but it has managed to stay alive and grow for years with a rabid community behind it. TER is also one of the few coins with enabled atomic swaps with the Bitcoin and Litecoin networks.
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PoW coins are in constant danger of 51% attacks. TerraNova can protection !
Yes POW really is a security flaw as it can be hacked as POS is the solving of this issue.
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There are coins with a hybrid PoW/PoS model of securing the network.
It works very well for coins that have very limited amount of miners.
Otherwise an attack would be cheap and easy.