TerraGreen on a Quest for a Green Cryptocurrency
Amidst the hype created by the crypto world lies a deep-rooted concern and a result of factors both internal and external to crypto, Global Warming. According to scientists, more than 90% of global warming is a result of rising concentrations of greenhouse gases and CO2 from combustion of fossil fuel, deforestation and other human activities.
Direct results of catastrophic climate change are melting glaciers, rising sea levels, vanishing of forests and wildlife. To add to the chaos caused by other industries, crypto mining has also set its foot in the contribution. Mining, as most of us know, is a process that uses high-powered computers and large amounts of electricity and pays tonnes of carbon dioxide as a contribution to global warming.
The pervasive threats posed by global warming demands resolutory actions not only from governments but also from every individual. Phasing out fossil fuel emitters with zero carbon emitting infrastructure is not a near possibility. Therefore, the world is in dire need of innovative projects that lead to creation and of renewable energy resources. TerraGreen is one such initiative that not only realizes the need of the hour but has also committed to implementing strategies to save the world from the catastrophic effects of global warming.
TerraGreen Endorsing Green Revolution
TerraGreen is a renewable energy trading platform that is based on the blockchain technology. In the renewable energy industry for more than two decades, the primary focus for TerraGreen is to develop a platform that uses energy saving cryptocurrency for a sustainable ecosystem. It aims to establish an energy transition from fossil fuel based production to renewable sources.
Biomass waste generation has been alarmingly rising due to population growth and increased agricultural production, emitting harmful greenhouse cases. TerraGreen has developed a concept for micro-managing the biomass wastes from industries and converting them into renewable energy products. A catalyst to this project will be a linkage between biomass suppliers, renewable energy producers, investors and renewable energy technology developers.
TerraGreen coin (TGN) will serve as a link or the medium between the participants. Therefore, middlemen will be eliminated throughout the process ensuring decentralization, increased profits for investors and producers, superior technology and easy availability of raw material.
TerraGreen Key Features
TerraGreen’s creation, a cryptocurrency known as TerraGreen coin (TGN), bills itself as ‘green money for a digital world’. The TGN coin is an energy efficient coin that is backed by renewable energy smart contract. The coin model provides the advantages of a decentralized financial system based on blockchain technology providing a high level of privacy and trust.
The value of the coin is based on green energy, thereby, directly addressing the problem of biomass waste generated by industries and individuals. Each coin contains information about the type of biomass waste material, renewable energy product, operation date of plant and equivalent MJ and price. The coin platform will provide the following features:
- The platform is an open source with decentralized and encrypted cryptocurrencies
- A TerraGreen wallet will be available on the internet and mobile platform for secure transactions
- The TGN coins will be distributed on TerraGreen platform as well as global platforms
- TerraGreen dApp is built on Algorithm SHA384 blockchain
- Drag & Drop function is an exclusive feature introduced in the token module
- Accepted currencies are BTC, ETH, LTC, BCH, BNB, and TGN with a possible accommodation of more currencies in the future
- Users will have the option to use a combination of fiat and cryptocurrency to pay bills from the wallet
- A flat transaction fee of 0.0001 TGN will be charged for the services on the platform
The backbone and support system of TerraGreen is its blockchain technology which is an incorruptible digital ledger. On the platform’s blockchain, every phase from the starting point to the execution to the addresses of the TGN coin can be observed.
Unlike the Bitcoin blockchain that is used in any kind of transaction or agreement, TerraGreen has created its own blockchain. The TGN blockchain is essentially decentralized and a public ledger involving different properties as follows:
- Public Blockchain: The blockchain enables users to read, write or connect with anyone in the world. Decentralization indicates that no one can control the network or change data that has been validated on the blockchain. Therefore, on the TGN Public Blockchain users can input transactions and data of TGN.
- Private Blockchain: This type of blockchain restricts users from accessing the network without permission by placing access controls. TGN Private Blockchain also places such controls on the network when third party transacts.
- Centralised Blockchain: These are custom-built and have full control on the network, therefore it can decide which participants can join the network. TGN Centralized Blockchain enables a group of users to connect to a centralized authority who supervises transactions and activities between connected nodes in the particular network.
With this project, TerraGreen aims to change the dynamics of the Biomass waste management industry and the renewable energy production. TerraGreen has not only acknowledged the challenges and problems of global warming but has also accepted the challenge to make a difference.
The initiative is taken to involve every individual concerned about the environmental issues to directly participate in each process of renewable energy creation and create a green and clean space to live. With all efforts in the right direction, the renewable energy industry will be redefined and experience a revolution.
Featured Image via TerraGreen
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.