What is Telcoin?
In real sense, the Telecoin will be marketed to telecommunication players such that the coin would be available for distribution for anyone irrespective of their geographical location.
Telecoin will basically take advantage and bring for the benefit of the customer, the synergies that blockchain and mobile network brings. The team behind it wants to bridge that gap of disparity found between accessing mobile services and the ability to make payments of necessary utilities.
In the telecom industry, Telecoin would come in handy during service trading and exchange. Through TEL, users can purchase, subscribe and even pay for telecom products and services through their wallets. Some of the products and services are paying for data subscription and the bills of the cable television.
Once they launch their mainnet, Telecoin will run on a hybrid PoW-PoS consensus algorithm using Scrypt and reduce their total coin supply to 55 million. Of that, 11 million shall be pre-mined with an annual Proof of Stake interest rate of five percent.