Telcoin (TEL) news

What is Telcoin (TEL)?

Telcoin is a decentralized financial platform that allows users to access a global suite of user-owned financial products. It serves as a medium of exchange, reserve asset, and protocol token, incentivizing market participants such as telecoms and active users to provide value-added services to end-users.

The Telcoin ecosystem is aligned towards providing every mobile phone user in the world with access to fast and affordable financial products that are user-owned. Telcoin Remittances, the company's launch product, provides low-cost, high-speed digital money transfers to mobile money platforms and e-wallets. The recently launched Version 3 of the platform includes two user-owned financial products, The Send Money Smarter Network (SMS) and TELxchange, a decentralized digital asset exchange.

Who are the Founders of Telcoin (TEL)?

Paul Neuner, an experienced entrepreneur in the telecommunications and cybersecurity industry, founded Telcoin in 2017. He has lived and worked in various parts of the world, including the Middle East and Asia, and is a graduate of The University of Notre Dame. Prior to his involvement with Telcoin, Neuner co-founded Mobius, a startup that provides fraud management services for mobile network operators. He also founded Sedona, a next-generation telecom fraud management service that offers sovereign mobile financial services.

What makes Telcoin (TEL) Unique?

Telcoin's objective is to make decentralized finance into simple, automated, and user-owned applications, and distribute those products and services through telecoms to mobile phone users worldwide. Telecoms have more than 5 billion users, making them the largest existing base of known global retail users. DeFi has already transformed finance by allowing user-owned, automated, non-custodial applications that are accessible to anyone with an internet connection and that execute in code rather than through intermediary institutions. Telcoin is capitalizing on this opportunity by partnering with telecoms and allowing them to offer superior, decentralized, automated financial products to their subscribers while assuming only a fraction of traditional finance counterparty, execution, and custody risk.

How do Network Consensus and Validation Work on Telcoin (TEL)?

Telcoin operates on the Ethereum blockchain and employs a hybrid consensus mechanism comprising Proof-of-Stake (PoS) and Proof-of-Concept (PoC). In PoS, validators are motivated to participate in the network by submitting a stake of ETH, which they can use to earn rewards for helping to secure the network.

What is TEL Used For?

TEL is a cryptocurrency that is commonly used for quick and affordable international money transfers among Telcoin users. Additionally, TEL is utilized for staking and liquidity farming on Telcoin's TelX DeFi platform.

Conclusion

With its growing partnerships and innovative solutions, Telcoin has the power to transform the global financial industry. By offering accessible and efficient financial services, Telcoin can provide millions of individuals with the support they need.