The risks in a digital society stem from the excessive amount of personal data attached to the traditional, centralized, third-party verification cycle most transactions today, subscribe to.
As the world delves further into the digital virtual reality, taking much we care about and that is personal into this space. Technologies and protocols need to be developed to protect the privacy and integrity of our data.
Telecoin has been developed to improve the security and privacy of transfers and transactions in a globalized fast paced world with greater digital risks. Whilst providing a long-term energy- efficient crypto-currency to the world.
With this in mind Telecoin has been created to provide users freedom and fair governance, whilst giving a secure and private medium of transaction.
With a network that supports master node capabilities, Telecoin understands that for those who support and help to strengthen the network, a fair reward system should be implemented to give back to the projects community.
The aim is to create a network based on a fair and trust-less interactions, whilst rewarding those who help to maintain, grow and contribute towards the future development and growth of infrastructure.
With most networks providing a 50/50 split in the rewards a Masternode would provide, Telecoin issues a 60/40 spilt giving those the greatest return to the host of the node. We felt this a better means to show our intentions to those who act as pillars within the community and network.
Instant Transactions: SwiftX transactions are confirmed and spendable within seconds, guaranteed by the network of masternodes, with no need to wait for multiple confirmations in order to be confident in the validity of the transaction.
Masternodes -These are incentivized nodes that receive rewards based on their availability and their ability to offer network services in a decentralized and trust-less manner. Running a masternode requires 10,000 TeleCoin collateral for as long as you choose to run the masternode and allows the owner to vote on budget and development proposals. These nodes are the backbone of the present and future services offer on the TeleCoin network, and as such are rewarded at a slightly higher level as compared to just staking when the number of them is at a predetermined level defined in the seesaw mechanism.
Obfuscation is just a way to make coins harder to trace thru MasterNode mixing of TeleCoin. If you send from A address to B address, you can follow the tx. When you activate obfuscation you tell to a MN you want to create a kind of pool between other users looking obfuscate their coins: that creates several output addresses and you just cant know if A tx goes to B or C or D. You can activate obfuscation but it's necessary to some MN have activated also the obfuscation, and some wallets too.
Decentralized Blockchain Voting –
TeleCoin uses a decentralized blockchain voting system to establish consensus for future advancements and updates of the TeleCoin Masternode. The voting system is core to the decentralized governance of our network and plays a vital role in enforcing changes and improvements by the community through direct participation.
Attention. There is a risk that unverified members are not actually members of the team
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