Telcoin

What is Telcoin (TEL)?

Telcoin (TEL) is a native token peer-to-peer payment system which uses blockchain technology and bears the same name – Telcoin. TEL tokens are stored on the Ethereum blockchain based on the ERC-20 token standard. Check out the Telcoin price chart above if you are interested in its historical performance as well as the current TEL price.

The Telcoin platform aims to integrate blockchain technology into the telecommunications industry. Essentially, it allows users quickly deliver translations around the world at lower prices than traditional banks or other payment systems. The Monetary Authority of Singapore regulates Telcoin as a major payment institution.

The main participants in the Telcoin system are users and mobile operators. Users are especially important to the Telcoin platform because they own it. However, Telcoin’s strategy places a special emphasis on mobile network operators as the main players on the platform. Telcoin is committed to partnering with as many local, regional and global telecom companies as possible to obtain as much telecom airtime as possible.

The Telcoin platform allows users send money transfers (non-commercial money transfers) all over the world at low prices. All they need to have is smartphone and crypto wallet. At the time of writing, users from the US and Canada can send money transfers to 16 countries such as Bangladesh, Guatemala and so on. However, the platform plans to include more countries in the future.

Founders of Telcoin

Paul Neuner and Claude Eguienta co-founder of Telcoin in 2017. Neuner is a serial entrepreneur with extensive experience in the cybersecurity and telecommunications industries. Before founding Telcoin, Neuner also co-founded Mobius and Sedona, which provide anti-fraud services in the telecommunications industry.

Egienta has a degree in computer science. In the past, he worked as a software and systems architect at CyberAgnet. In addition to founding Telcoin, Eghienta also founded Kabotip. In 2020, he took over as CEO of Mimo.

Telcoin was launched in 2017. During its first year on the market, the price of TEL remained very low, below the one cent threshold. The period of prolonged volatility ended in 2021, when the asset began to show more intense market dynamics.

Telcoin’s price tends to follow broader cryptocurrency market trends. In 2021, the asset reached a high of $0.06. The price set in May was considered a record high for TEL. The asset was negatively impacted by the cryptocurrency crash in the second quarter of 2022.

How does the Telcoin platform work?

Telcoin uses a multi-layered approach. Its architecture is built using application layer, liquidity mechanism and settlement network. All three parts are powered and combined by TEL tokens.

Telcoin mobile application serves as the application layer. It provides access to user-owned Telcoin products such as Telcoin digital wallet and money transfer portal. Additionally, it connects customers to TELx use cases.

Telcoin Decentralized Liquidity Mechanism TELx. Essentially, it is a network of automated, decentralized exchange markets. SMS and TELxchange network are the two main components of the network. SMS Network is a decentralized global money transfer network and TELxchange is a decentralized digital asset exchange. In addition, users can become TELx Miners. Miners support the TELx markets with their liquidity reserves. Moreover, they bet LP tokens in the relevant staking contracts to collect pool trading fees and TEL issuance fees.

Finally, an Ethereum-based sidechain called Rivendell serves as a settlement network. It is protected by mobile operators. Rivendell allows Telcoin users to make fast and secure transactions.

Speaking of the consensus mechanism that Telcoin uses, although it runs on Ethereum, it does not use Proof of Stake consensus mechanism. Instead it uses Proof of concept model. In this regard, telecom operators partnering with Telcoin act as transaction validators.

Additionally, Telcoin uses multi-signature modelThis means that at least two (or more) private keys are required to complete a transaction on the Telcoin network.

Purpose of TEL tokens

TEL is Telcoin’s utility token. In total it has six main functions:

• Exchange environment. TEL is the most liquid medium of exchange for Telcoin.
• To book. TELx miners use TEL as a reserve asset.
• Protocol asset. In exchange for TEL issuance rewards and transaction fees, Rivendell Network validators protect the network.
• Work badge. Active Telcoin users can stake TEL to support the ecosystem.
• Access token. TEL tokens are required to access the Telcoin platform and its products.
• Reward token. TEL tokens are used to reward telecom operators connecting to the Telcoin network. The amount of rewards they receive depends on the traffic of their TEL tokens.

The price of Telcoin is subject to change, so keep this in mind if you are thinking about purchasing TEL tokens. This is because the volatility of the entire cryptocurrency market affects TEL tokens, just like the prices of other digital assets.

Tokenomics of Telcoin tokens

The maximum supply of Telcoin tokens is 100 billion. The asset is deflationary, meaning that the price of TEL is expected to rise over time. During the investor crowdsale that took place at the launch of Telcoin, 25% of the tokens were distributed among investors.

Telecom operators connecting to the Telcoin network can release new TEL tokens and, as mentioned earlier, receive rewards for your TEL traffic. 50% of tokens are allocated for these rewards. The Telcoin team retains another 15% of the total supply, plus 5% goes into a liquidity fund.

If you are interested in the current TEL price and other market statistics, take a look at the Telcoin price chart above.