Tetra began through a team who formed planning to take over Nuclearcoin, which was abandoned by its developer in its early stages.
We wanted to take over the coin but we also wanted to create a worthwhile project – not just simply a pump and dump to help holders
exit the coin at break even price or small profit.
The name Tetra is of Greek origin. The word Tetradrachm was one of the worlds first silver backed currencies and we have taken
inspiration to create one of the worlds first silver backed digital currency.
The aim is to create a silver backed digital currency with natural growth. The swap taking place from NUC gives us a good initial
coin supply and a relatively small marketcap. We are buying a starting base of silver to give the currency a floor value. The coin
will be mineable with each coin costing approximately the price of 1 gram of silver to mine. With time the supply will increase
but also the value of the coins as there will be an increased coin to silver ratio, eventually aiming for 1:1.
We are converting over to a new blockchain with new mining specifications, all coin holders of the old "Nuclearcoin" need to download
the new wallet.
To get your new coins the process will be as follows:
1) Private message me with your Tetra Address
2) I will provide you with an address to send your old NUC to, so i can verify how much tetra I am to send to you
3) Once i see the NUC arrive i will send Tetra to your new wallet
This is a manual process so you might not receive an answer from me instantly.
I'm also in the process in building up the initial silver reserve, I've bought a few small amounts from various places just to see they arrive ok because if there are problems I don't want to make them the main silver supplier. I should have a few photos soon and I'm figuring out the best way to verify and keep our reserve up to date.
The swapover period will end on monday 13th of June at 18:00 GMT+1
Method: Pure POW
Block Time: 2 minutes
Block reward: 0.03 TRA
Tx Fee: 0.001
Mining is essential to maintaining the networks health and in this case increasing the coins value. Each block is low
reward but occur every 2 minutes to keep transactions fast. Each Mineable coin will cost roughly the same as a gram
of silver to mine. This cannot change otherwise it is unprofitable to buy silver with the coins. Eventually the amount
of coins which cost a gram of silver to mine will outweigh those which were minted for less and the price should
begin to tether itself to the silver price. For this to work we need the miners to share 33% of their mined coin. The
more silver we can buy the more each coin is worth. This is down purely to the miners generosity so we hope miners
act in line with the longer term benefits of donating a share of their mining.
The first 6 months
The first 6 months will focus on building up services and exchanges in the cryptocurrency community. A range
of wallets, Multipool and social community features will be developed. It's important in these first 6 months to
fine tune the network and make it ideal for a larger number of users which will be happening in the future.
We believe in 6 months we will have proven the natural growth process works successfully and we will begin the
process of becoming a non profit organisation. At this point we will be seeking investors to come aboard and help
us begin making Tetra a viable payment option around the world with focus on developing a NFC payment method
and debit cards. With these two arrangements set up there really is no limit to how much adoption we can get and
with the currency being asset backed it should provide stability and long term support.