Telcoin was created in 2017 by a Singapore-based organization with the aim of making the transfer of money smarter. It specifically targets cross border payments as it is a pain point for many. International transfers are costly and requires a lot of complex procedures. With the advent of the blockchain technology, the shape of the international payment ecosystem can be completely transformed. Telcoin is one such platform which aims to facilitate the transformation by leveraging the blockchain technology.
What is Telcoin?
Telcoin is based on the blockchain of Ethereum – utilizing all the benefits the queen of the market has to offer. However, instead of relying on Ethereum’s outdated proof-of-work consensus mechanism, it employs its unique proof-of-concept consensus. The PoC consensus mechanism allows the verification of the real-world feasibility before validating any transaction.
TEL is the native token of the network which is used to earn rewards. Token owners can transfer tokens from their account to any peer account. To ensure security, the network utilizes a multi-signature model. Transactions need at least two private keys for the transaction to be completed. Users also have the option to increase the security settings as per their liking.
Telcoin’s network aims to tap the remittance market by using mobile phones. This makes Telcoin an interesting proposition for the unbanked masses. The network also has the goal of disruption the monopoly of behemoth banks like Western Union that charges exorbitant fees and are highly inefficient. Telcoin makes the process of transferring internationally affordable and quick. According to some reports, it takes only three minutes to wire money internationally through the network all thanks to the power of Ethereum that Telcoin has harnessed and coupled with its own technological advances.
TEL price prediction
The cryptocurrency stands at a price level of $0.017, at the time of writing. TEL coin has had phenomenal growth during the year. It started off with a price level of $0.00017 and established the all-time high at $0.064. Currently, the cryptocurrency has succumbed to bearish pressures but that does not indicate a bearish future outlook.
Digital Coin Price predicts that TEL coin will end the year with a price level of $0.02. However, per their predictions the growth trajectory of the cryptocurrency is expected to grow stagnant and Telcoin will only be able to reach its current ATH. Wallet Investor, however, is bullish on the cryptocurrency is projects a price of $0.05 by one year and $0.17 in five years.
