In the following article, readers will discover what makes TELCOIN the first mobile digital currency operator, and its potential for growth in international money transfers.
TELCOIN is a digital currency that works on blockchain, which is the technology that supports electronic commerce and features in the process of international money transfers.
TEL is a currency that the mobile world universally accepts, allowing it to function in a wide range of financial products, from purchases to payments, and is available on many exchanges.
Decentralization is the foundation of Telecoin, and this app aims to make the entire network accessible to everyone.
The technology behind this coin has evolved a lot since its inception. As a matter of fact, it is now widely known in e-commerce.
The developer, Paul Neuner, has been working in blockchain and telecommunications for the past 12 years.
The system is backed by decentralized software, allowing you to bypass any central authority that may interfere with its operation.
Therefore, it will enable users to make international remittances. Telcoin’s technology also makes it possible to complete transactions almost instantly.
Send money through the Telcoin network
In addition to being a payment system, Telcoin is also a means to send money to anyone. This technology is designed to work on the Ethereum blockchain.
Thanks to a self-operating system, Telcoin’s main feature is to send money.
Also, the Telcoin project plans to introduce a decentralized financial platform and payment card for consumers. These two features are currently under development.
For crypto enthusiasts, it will be helpful to understand their advantages and disadvantages.
It is a cryptocurrency that works for remittances in the mobile money space and facilitates transactions between two parties and for payments.
TEL is a type of digital currency and is a form of digital cash. It is a hybrid of a traditional currency and a cryptocurrency.
This cryptocurrency takes advantage of the relationship between consumers and telecommunications companies to facilitate money transfers.
Telcoin is based on the ERC-20 system, making transactions on this platform more straightforward.
Unlike traditional currencies, Telcoin is a digital asset-backed by a telecommunications company.
They also facilitate the transfer of funds between different regions and countries and enable optimal collaboration over the mobile network.
Multi-signature encryption security
The technology behind Telcoin Token is a proof-of-concept model that uses telco companies as validators.
These companies get rewards for verifying transactions. Moreover, these companies are the equivalent of validators on a PoS blockchain.
Telcoin project has multi-signature encryption security and uses two private keys to conduct transactions, which somewhat ensures the safety of user funds.
To summarize, the TEL cryptocurrency runs on the Ethereum blockchain and uses a proof of stake (PoS) algorithm to ensure that transactions are safe and secure.