One of the older alt-coin, Terracoin was launched on October 26th 2012. Similar to Bitcoin, Terracoin is a SHA-256 based mined cryptocurrency, making it more difficult to mine than script based digital currencies. Like other digital currencies, Terracoin enables instant payments to anyone, anywhere in the world. All transactions are carried out by its own network and are not bound to any central authority. Only 42 million Terracoins are scheduled to be produced, double bitcoin’s 21 million.
Among exchanges offering trading in Terracoin, BTC-e is the largest, as it is available for trade against bitcoins (TRC/BTC). It was announced late in 2013 that BTC-e would remove Terracoin from trading, but that decision was rescinded after volumes became to pick up. As a SHA-256 mined currency, from a cost perspective there is a convenience to just buy the currency outright than bother using resources to mine terracoins due to its difficulty to produce.
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