TVG Coin: A simpler breakdown

otto11 (53)in #gem • 3 years ago (edited)

Introduction

Hey there creatures of the Hodl-space, Otto11 here and this is another awesome piece about TVG Coin.
In our last article, we discussed TVG Coin, where we were introduced to cryptocurrency for social good.

We will be looking into so other things on this asset and taking a closer look at its earning structure…

Contents to discuss are:-

- What are Cryptocurrencies?*
- How do they work?*
- What is TVG Coin?*
- How does TVG Coin work?*

What are Cryptocurrencies?;

A cryptocurrency is a digital asset that may be exchanged without the use of a central monetary authority such as a government or bank. Cryptocurrencies, on the other hand, are created using cryptographic processes that allow users to purchase, sell, and trade them safely.

The blockchain technology that underpins Bitcoin and most other cryptocurrencies creates a tamper-resistant record of transactions and keep track of who owns what.

With it being the first crypto asset, bitcoin had a few issues and also helped solve some problem that was encountered when there were attempts to create solely digital currencies: preventing people from duplicating their assets and spending them twice(a recurring issue in the past).

How do they work?

Cryptocurrencies are based on the blockchain, a distributed public database that keeps track of all transactions and is updated by currency holders.

There are other ways cryptocurrencies work, the common one is being created through a process known as mining, which involves employing computer processing power to solve complex mathematical problems that result in coins. Users can also purchase the currencies through brokers, then store and spend them through encrypted wallets. Other ways it works are by storing, trading, and investing.
You don't possess anything concrete if you own cryptocurrency. What you have is a key that enables you to transfer a record or a unit of measurement from one person to another without the involvement of a trusted third party.

What is TVGCoin?

TVG is a social currency built on the Ethereum blockchain. This Blockchain invention has made it easier, safer, and more secure to handle commitments. The Blockchain Tron network has created a TRC20-based coin for online trade called TVG. Through marking and trading, TVG adds value to local stakeholders.

TVG coin is backed by the TVG community and they have a say in how the asset develops, as part of the Core team's initial goal of making TVG a worldwide recognized currency.

TVG is an asset with over a trillion coins, and the team intends to make it available and accessible in all countries throughout the world.

How will the TVG Coin work?

Trading-

This works when you sell or purchase TVG coins, they will donate to a charity without depleting the Charitable Supply Fund, which is set aside to assist a social purpose.

Fundraising-

The majority of the revenue raised by fundraising activities goes to third-party providers. Third-party service costs, on the other hand, are significant, even before credit card fees of 2% to 1.5 percent of the total.

This is inefficient and difficult to scale, and services like this don't help blockchain technology fulfill its purpose.
The Ecosystem, on the other hand, will help revolutionize the way people donate thanks to the strength of the blockchain, and the donations made possible by TVG will help transform the way people donate.
its full potential by changing people's attitudes toward charity.

Disclaimer;
In my take, is its a good buy or not?

Well, first of all, do your own research (#DYOR) as this shouldn't be perceived as financial advice.

Website- http://https//tvgcoin.com/

Twitter- https://twitter.com/tvgcoin/

Facebook- https://facebook.com/TVGcoin/

Discord- https://discord.gg/KFrvw9HP45

Instagram- https://instagram.com/

Telegram- https://t.me/TVGGLOBALCOMMUNITY

YouTube- https://m.youtube.com/channel/UCXknsH0ZjO2a-Hbxg1QYoQA

Medium- https://medium.com/@TVG_TheSocialCoin

Author details;
Bitcointalk username- Otto111

Profile link- https://bitcointalk.org/index.php?action=profile;u=2614604