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  • latest News
    New Pool for Tetra Currency [TRA]
    posted 06/19/2016 11:56:13 by cryptoally

    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

    Name: Tetra
    Ticker: TRA
    Algorithim: Scrypt
    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.