By Ogechi Nnadi Mbama

The blockchain technology sprout forth with bitcoin and other major coins, but along the line the vision of mass adoption of cryptocurrencies seems impossible with the blockchain structure and consensus protocol upon which these networks were built on. Common setbacks among these major networks are low transaction throughput, high resources required to maintain the performance of their blockchain networks and last but not least, low scalability further hindering the vision of Satoshi Nakamoto in creating a peer-to-peer digital currency that could be used globally.

Many solutions have been proposed by other blockchain networks, but I think TerraCredit is one of the solutions that really stands out, considering the enthusiasm of the team towards this project as well as the efforts put in motion towards the realization of their goals.

What is TerraCredit?

Terracredit is a decentralized blockchain network that has stood the test of time against any 51% attack, ever since it was launched into this space, over a year ago. It’s consensus protocol and design grant its users an extremely fast network when executing transactions at a very low cost. The global adoption and use of cryptocurrencies can really come into play if blockchain enthusiasts are creating payment system similar to already existing fiat solutions, yet highly optimized ones for sure.

Terracredit has made it possible for users to have access to their funds on all smart devices and operating systems through the cryptocurrency wallets. Both desktop and mobile wallets come with a simple yet attractive user interface to enhance user experience as people interact with it. With no prefunding of any form being it ICO/IEO, the team has developed several MVPs which are working smoothly and this is very uncommon in this industry, where some team members raise huge amounts of money, yet are not able to even fulfill just an atom of their whitepaper. This team has developed products like Terrabit, Terra-mart, Terra-hub and fully operational credit card payment for Nigeria, Paystack which executes transactions automatically without any influence from third party systems.

Credit 2.0 – The Incoming Credit Swap and its Benefits

Focusing on further developments and increasing the robust network, yet flexible solutions of the Terra Ecosystem, there is going to be a coin swap within the period of August 01 of this year. To make things simple and easy for the Terra Community, this swap is going to be automatic and users would not need to be worried about any technicalities when it comes to coin swap.

All you have to do is simply send Credit coins to and they will be automatically exchanged for you to the new coin. This will be the sole medium of exchange for this swap; hence community members are to adhere strictly to this guideline and make sure they move their coins within the period stated above.

The ratio of the swap is 1000:1 in favor of the new coin. This simply means for every 1000 coins of the old coin; you will get 1 of the newly minted coin. Anyone who does not get captured within this swap period would lose his/her funds, as it will get stuck on the old blockchain.

How does this swap benefit Credit Coin Holders?

This swap is going to cut the total supply of Credit coin from 70 billion to 70 million, hence increasing the demand and scarcity of the coin. Put together all the use cases such as Terra-mart, Terrabit, Terra-hub etc. making use of the coin on its various platforms and you can guarantee how liquid this coin will be. The better part of this comes to play as the new blockchain network has a proof-of-stake as its consensus mechanism, hence the launch of masternodes.

Let’s do some math to better inform existing holders and new investors what a good opportunity it would be to hold their credit coins or purchase credit at this stage respectively. Approximating circulating supply to 35million on the day of swap and with masternode collateral pegged at 50K coins, this makes it possible for at least 700 masternodes to be deployed. This will be in the case if all these users have this required collateral, but that’s not the case, as most users probably have less than 30K. This makes the number of masternodes eligible to be launched at genesis less than 500 nodes. This will be highly rewarding as this few pool of nodes will generate enormous passive income from block rewards.

The launch of masternodes will bring to life a decentralized autonomous network, as these masternodes will now serve to govern the network in a decentralized manner.

Putting all these statistics together, as well as the use cases that have already been developed to bring in liquidity towards the coin, you can rest assured as an investor because of the strong hedge that has been put up to support your funds. Whilst other projects are struggling to come up with use cases to increase the liquidity of their coin, Terracredit already has them in diverse forms. The token economics combined with the launch of masternodes are two strong hedges which can provide strong support, in case of any extreme volatility in the crypto industry.

MyContainer offers staking and masternode solution to Credit holders

Running masternodes and staking involves some technicalities especially with the former, while that of the latter will require one to keep his/her computer on all the time. MyContainer, which is one of the renowned and fully licensed assets holding platforms out there, will offer users the opportunity to either stake or run their Credit masternode on its platform at a very affordable fee. Developed on one-click solutions, users can start their masternodes with a few clicks once they deposit their funds into their respective wallets. This asset containing platform is secured and provides a 24/7 customer support, should any of their client need any form of assistance.


Credit is a complete financial solution that has emerged in this industry, considering the decentralized real time payment system that it offers as well as its masternode system, which also makes it an asset to invest in for the long run. Compared to other payment solutions that have been deployed in Africa, Terracredit has created automated fiat/crypto credit card payments, which also allows automatic bank withdrawals, making it the leading blockchain payment solution in Africa.

The TerraCredit team proposal of making the Credit App based wallet a viable replacement for centralized mobile money and cash at the same time is clearly a bold statement. However, when analyzing in depth, one actually realizes that Credit already offers virtually free and instant payments, which can be sent anywhere in the world, as well as a wallet which passively earns its owners more coins. It’s clear that the team’s objective of making Credit user-friendly and rewarding has already successfully been achieved.

Backed by an innovative and hardworking group of professional team members, this project is geared to establish trends in the nearest future. It will undoubtably be great and rewarding to be part of the early adopters.

#unbanktheplanet #terracredit #terrabit

Originally from Crypto Adventure