Platform

Platform

Telcoin Network: Consumer Products

Peer-to-peer transfer, secure self-custody over digital assets, an immutable ledger of ownership history, and any digital good or service that can be programmed in code does not require a third party coordinator, such as DeFi.

Products Overview

  • Blockspace: Decentralized, peer to peer transfers.
  • Decentralized Applications and Protocols: Smart contracts or on-chain programs enable use cases such as DeFi.
  • Self-custody: Public-private key cryptography enables cryptographically-enforced private property rights over digital objects autonomous of third party intermediaries.
  • Immutable Ledger: Cryptographically verifiable ownership over digital scarcity.

    • Blockspace: Activities, benefits, costs, technology used, infrastructure involved.

    Overview: Decentralized, peer to peer transfers.

  • Activity: Users transact with their assets on the blockchain, paying gas fees in TEL or other approved gas tokens in order to have their transaction processed in a block and secured to the blockchain ledger by validators.
    • Example: A user sends 1,000 TEL to a friend, paying gas to have their transaction included in the next block and secured to the blockchain.
  • Benefit: Users benefit from decentralized, fast, global transactions at any time without relying on third parties, and validators earn gas fees.
    • Users: The ability to transfer assets peer to peer, instantly, at any time without relying on counter-parties.
    • Validators: Earn income from gas fees paid to access blockspace.
  • Costs: Users pay gas fees on each transaction and validators pay costs to operate network infrastructure required to produce blocks.
  • Technology used by consumers: web3 wallet, TEL, cryptoassets.
  • Infrastructure involved: Telcoin Network.

    • Decentralized Applications or Protocols

    Overview: Smart contracts enable products such as decentralized financial protocols (”DeFi”) and any other number of use cases which can be programmed by developers using on-chain programs or “smart contracts” that self-execute and self-enforce programmable rules around digital goods and services without reliance on central operators.

  • Activity: Developers deploy smart contracts and users access those programs “peer to contract” by transferring their assets to the contract and receiving a good or service.
    • Example: A user swaps USDC for TEL on a decentralized exchange protocol, paying fees to liquidity providers.
  • Benefits: Developers can build scarce digital goods and services using on-chain programs (“smart contracts”), enabling consumers to transact “peer to contract” and execute any number of programmable actions with their assets automatically without relying on central servers or intermediation of any kind.
    • Users: Benefit from the ability to transact peer to contract using the available applications and protocols built by developers.
    • Developers and supply side protocol users: Benefit from income from fees.
    • Validators: Benefit from income from gas fees paid to access blockspace.
  • Technology used by consumers: web3 wallet, TEL, cryptoassets.
  • Infrastructure involved: EVM, Telcoin Network.

    • Self-Custody

    Overview: Users can take ownership over their digital objects without relying on third parties.

  • Activity: Consumers generate a public-private key pair “account” and transfer their assets to their account, taking full self-custody over their property without relying on intermediaries.
    • Example: A user generates an account, sends 10,000 TEL to their public address, and self-custodies their TEL.
  • Benefit: Consumers have secure self-custody over digital scarcity without relying on intermediaries.
  • Technology used by consumers: web3 wallet, TEL, cryptoassets.
  • Infrastructure involved: EVM, Telcoin Network components.

    • Immutable, distributed ledger

    Overview: Cryptographically verifiable ownership history over digital goods and services that cannot be altered and updates each new block.

  • Activity: Consumers can verify the entire record of ownership, ownership history and transaction history on the Telcoin Network.
    • Example: A user sends 10 TEL to a friend, and inserts the transaction hash in a block explorer to review that the transaction was processed to the blockchain and has been received by their friend.
  • Benefit: The ability to verify the history and current record of all transactions, ownership, and the historical record of the blockchain at any time.
  • Technology used by consumers: Block explorer front end.
  • Infrastructure involved: Immutable distributed ledger, Telcoin Network components.