Teracore is a crypto currency network based on blockchain technology with main focus on privacy and speed of transactions. It will be implemented as a two-tiered Proof of Stake system, making it possible for network participants to earn coins by securing the network in a decentralized way. Engineered to improve the flaws of common legacy systems and avoid clogging, the project aspires to create a permissionless and feasible form of currency. Users are able to transact with each other in a direct way, without a need for a central entity. Transactions are cryptographically secured and verified on the blockchain to create a trustless environment. The vision of this project ist to reclaim peoples's sovereignty by creating an autonomous payment network.
Entirely anonymous transactions that can't be traced back and are unlinkable to a persons identity. A variety of technologies is used to obfuscate account balances and the origins of transactions.
The consensus algorithm allows users to stake their coins to collect block rewards as an incentive. ASIC miners are not required, which leads to low barriers of entry and prevents monopolies of mining pools.
The network is energy-efficient by design. Teracore isn't based on heavy mathematical problem solving for security pruposes. No computing power and electricity is wasted due to low energy consumption.
Operating a Teranode helps to secure the network and in return operators are incentivized with coins for their commitment. This higher-ranking types of nodes relay transactions across the network and keep a full copy of the blockchain in real-time. They also participate in the underlying governance of the network and have the ability to take part in the voting process. Requirements to be eligible for running such a node are technical capabilities and the deposit of coins as collateral.
Users are able to stake their coins in the official wallet. Staking nodes are providing computing power to the network and therefore are compensated with block rewards for their effort. The probability of generating the next block and collecting the associated reward increases with a higher wallet balance. Every staking node is competing with each other and the difficulty to succeed is reliant on the amount being at stake, which leads to a decrease in the consumption of energy.
The network is going to use ring signatures, which is a form of a digital signature, as a tool to provide anonymity for signers of transactions. Any member of a group can sign them, but the resulting digital signature keeps the identity of the signer confidential. Secret addresses prevent payments to be linked with a person's wallet address. When a transaction gets broadcasted to the network a one-time public key can be created to make it impossible for an observer to retrace the receiver of the funds.
Tor is an anonymity network, which routes internet traffic through an overlay network of worldwide relays. It was invented to conceal a user's identity from anyone undertaking network surveillance or internet traffic analysis. It will be implemented as a second layer technology to obfuscate IP addresses, while transmitting a transaction to the network. While the data is not recorded in the transaction itself it represents a risk of revealing the identity of users. In this way information about the sender is kept undisclosed.
Token Name: TOR
Used blockchain: Ethereum
Initial supply: 250.000.000
Token Price: 0.00035 ETH
Minimum purchase amount: 0.2 ETH
Soft Cap: 400.000 USD
Hard Cap: 6.000.000 USD
The initial supply of Teracore is going to be 250.000.000 TOR. There will be no finite limit of coin-supply because transaction fees will be burned and therefore maintain a healthy and balanced issuance as new coins come into existence as block rewards. In this manner fungibility and liquidity are assured, due to the fact that a part of the coin-supply is needed as collateral and for staking. The two-tiered POS system and embedded block time of 30 seconds allows the network to operate more rapid than common systems and avoid bottlenecks without resigning on decentralization. The mentioned characteristics result in low transaction costs and make it possible for this digital asset to serve as a means of exchange.
The funds generated will be distributed to cover a number of expenses to finance the project. The deployment of capital is described in the info-graphics above. The vast majority will be spend to develop the ecosystem by engineering software technologies, including the research of algorithmic solutions and security measures. For this account we are aiming to expand our team and attract highly sophisticated computer scientists, software engineers/architects and network specialists to join our community. A part of the funds will be used for advertising & marketing to raise awareness and for exchange listings to assure optimum liquidity.
Software development and algorithm research
Rewards for software architects and R&D engineers
Security and encryption
Providing liquidity by exchange listings
Hardware for testing environments
Advertising & Marketing
Initially the focal point will be on evolving the core wallet and implement the privacy features, such as secret addresses and TOR second layer integration. To reward early supporters of the project and guarantee a fair distribution, the quantity of 15% of the total supply will be given away as a crowdgift for little tasks. The amount of the supply allocated to the project’s reserve will be locked for three years. Subsequently one fifth of the funds will be released per year by the unlocking process to secure further sourcing. All unsold tokens will be made permanently unspendable by sending them to a burn address. The initial coin offering will be executed in two phases.