COLUMBUS, Ohio, Oct. 29, 2018 /PRNewswire-PRWeb/ -- Blockchain Relations, a media networking brand committed to helping blockchain innovations go mainstream via widespread awareness, today announces the publication of an article featuring masternode technology, a blockchain innovation within the crypto market that adds a second-tier of features on top of the standard mining network put in place by Bitcoin.
The publication, titled "The Oldest Masternode Cryptocurrency (Hint: Not Dash)," provides an overview of the many ways this innovation is advancing blockchain technology, the individual who originally introduced the masternode concept, and how its integration into Terracoin is enabling the community to better deliver on its mission. The article also highlights Terracoin's recent 6th birthday. Today, this crypto-asset stands as one of the few originals that still exist and is arguably advancing a lot faster than other blockchains of its time.
To view the full publication, visit: http://blockchainnewssource.com/articles/the-oldest-masternode-cryptocurrency-hint-not-dash.html
The most valuable features introduced as a result of integrating masternode technology include reducing transaction fees to nearly zero, allowing for virtually instant transactions to take place as commonly expected from credit cards, enabling decentralized governance and voting, and creating a self-sustainable treasury system so a portion of the block rewards were available to fund ideas presented by the community.
Decentralized governance was the main purpose for adding the masternode code to Terracoin, but it also better equipped the community to deliver on its mission to "help the world" with crypto technology. The self-funding part of the code began allocating 10% of the block rewards to a communal budget that can be directed towards philanthropic purposes through masternode voting, as well as improving the coin in other ways (which, in turn, allows the community to better aid charitable causes in the future). Plus, the code split the remaining 90% of the block rewards between miners and masternode owners, allowing individuals to donate masternodes to an organization of their choice so residual payouts can continually support their initiatives. This splitting of the block rewards also incentivized existing and new community members to support the masternode network necessary for adding the second-tier features.
In February of 2016, The Terracoin Foundation was incorporated as an independent organization to take the decentralized community's mission further and ensure stable development. To date, enough Terracoin has been donated to this foundation to create more than 15 masternodes. Once a certain objective is met, half of the service rewards generated from supporting the network will be donated to the organization(s) decided upon by members of the community. The other half of the net profits will be used to create more foundation-owned masternodes to increase the amount that can be donated each month.
Even though cryptocurrency has been around for nearly a decade now, the technology is still very young and we still don't know what future challenges lie ahead. This is why the masternode concept is so crucial as it helps ensure decisions are quickly made so development continues and progress isn't impeded.
About Terracoin
Terracoin (Crypto: TRC), one of the world's first cryptocoins, is a community of people with the common goal of helping everyone around the world. With an ambitious roadmap in place for ongoing development and community growth, Terracoin has demonstrated its ability to stay at the forefront by integrating merged mining, decentralized governance, a masternode network, security features and more.
For more information via the Terracoin website, visit: https://terracoin.io/
To view an interactive flipbook and learn how to engage with the community, visit http://www.blockchainrelations.io/clients/terracoin/flipbook/
About Blockchain Relations
Blockchain Relations™ was launched as a division of The Global Precision Group (est. 2010) to help crypto-assets and blockchain projects achieve greater visibility through media connections and proven branding strategies. The core team leverages a unique blend of experience spanning media relations, investor relations, syndicated communications, marketing, crypto markets and community-building initiatives.
To learn more about Blockchain Relations, visit http://www.blockchainrelations.io.
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SOURCE Blockchain Relations
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