It has been one year since the first block was produced by the CREDIT cryptocurrency brainchild of African blockchain firm Terra. Dubbed “the cryptocurrency for everyone”, this decentralized proof of stake crypto has remained as easy to mine as it always has been, continuing to give holders and stakers a trusted way of passive crypto generation.
In that one year, Johannesburg-based TERRA has continued to roll out an incredible range of products centered on building digital payment processing solutions in developing economies on the continent, such as Nigeria.
2 billion people are disconnected from the financial world. These unbanked do have smartphones, but cannot access baking services, placing trillions or more US dollars outside the global financial system. CREDIT mining can happen on these smartphones, giving real-world solutions to those seeking to store value and increase wealth outside the banking system.
Besides staking for guaranteed 100% annual returns, CREDIT is also facilitating online and physical payments using simple smartphones and other basic devices
Terra Foundation founder and CREDIT creator Dan Ronchese said:
“The only way a cryptocurrency can become a global payment system is if everyone who makes payments has access to it”.
As such, CREDIT is designed to ensure everyone can have access. Via MiniPOS, anyone can stake CREDIT and earn every hour.
Alongside a focused development on its decentralized crypto CREDIT, Terra has supported the creation of eight other products complementing each other, all of them introducing innovations that will change the way emerging markets view money.
These are the details of these 8 products:
- MiniPOS – Which is a web wallet for staking CREDIT, letting holders earn more easily with every block produced. Instead of requiring a CPU, even smartphone users can now partake in passive generation via staking with 100% returns every year, rewarded to them every hour.
- Terra.Credit – The decentralized public ledger and CREDIT blockchain explorer enabling complete and immutable transparency.
- Terra Hub – Terra-hub is a social network offering CREDIT as a reward for incentivized action. This is a fair and democratic monetization of over 250,000 users.
- The Tellus Ecosystem – Tellus-pay and Tellus-merchant together form a payments ecosystem for the unbanked, allowing users to access Fiat (Naira and Rand included) and Crypto support as well as MiniPOS access to stake CREDIT, all this without a bank account. Physical and digital sellers can now integrate Tellus to accept instant payments, without being charged any fees or commission.
- Terra Mart – Terra and Tellus-pay together operate Terra-mart, the shopping marketplace with absolutely zero fees. Vendors can now put up all goods and services online, via their own unique digital store and customized URL. Buyers must use CREDIT to buy from vendors. The price you see is the price you pay, and the price you get – buyers and sellers pay no fees!
- Terra Wallet – An app wallet also available via web, Terra Wallet is still in development, but all major functions are available. Once fully rolled out, users can use basic Androids to transact with and store CREDIT on the go.
- TerraceX – TerraceX is a South African cryptocurrency exchange platform, featuring conventional exchange services on the spot market with stop/loss features across all major currency pays. 100% of fees collected are given back to users through referral. CREDIT users benefit from wider access to exchange options. TerraceX currently offers fiat to crypto services in 5 African countries, with Colombia about to be added.
- Terra DAX – Users can connect to all their favorite exchanges and trade from one place via the Terra-DAX native trading app.
The CREDIT Blockchain
Beginning life as a hybrid PoW/PoS blockchain, CREDIT is now producing blocks only via proof of stake, with thousands of miners securing the CREDIT Blockchain and getting rewarded with new coins every new block. Terra is supported on a wide range of platforms, including Windows, Mac, Linux, Android and even Raspbian from the start. Since miners don’t compete, everyone gains from supporting the blockchain.
CREDIT on the Free Market
CREDIT price movements and trading volumes have been showing a generally positive trend, with trading volumes also on the increase. Most recently, credit moved about 40% from the previous month to trade around $0,000012. CREDIT is available across several exchanges, including Bitforex, Catex, Hubi and TerraceX.
To learn more about African crypto for everyone, meet the community on the Terra Telegram channel.