Trestor Foundation to launch crypto-clad digital currency in India

Monday 15 December 2014 00:10 CET | News

Trestor Foundation, a non-profit private organisation, plans to launch a crypto-like digital currency in the Indian market, reports.

The Trestor Network or T-Net, is a decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a consumer perspective, T- Net is a computer program or mobile app that provides a personal digital wallet that allows a user to send and receive Trests with them.

T-Net, like Bitcoin, is an open source, peer-to-peer network with irreversible transactions which are sent over the internet. T-Net uses an advanced form of the same underlying cryptography as Bitcoin and whose network nodes can be run by anyone.

Unlike Bitcoin, T-Net allows usernames for accounts (Bitcoin has long 26-35 digit alphanumeric addresses which are impossible to memorize). T-Net solves the double spending problem with consensus instead of proof-of-work (which is used by Bitcoin). Consensus is the process by which the entire network agrees on the same ledger. It is what keeps everybody on the same page.

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Keywords: Trestor Foundation, cryptocurrency, Bitcoin, digital currency, India, digital market, Customers
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3

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