Just like Bitcoin Terracoin, abbreviated TRC is a peer to peer decentralized currency. It has no central issuer but is regulated by a peer-to-peer network instead. Balances, transactions and issuance are all regulated by the network. Other then bitcoin Terracoin is going to have a maximum of 42 million coins offering 20 coins per block. This block reward will automatically be halved every 1050000 blocks (4 years). Block generation is also way faster then with bitcoin, the blocks are created every 2 minutes instead of 10 minutes. The first Terracoin blockchain was created on October 26th 2012 making the block reward going down at October 26th 2016 to 10 coins per block.
- 20 Coin reward per block
- 42 million coins will be available
- Block target is 2 minutes so a new block is generated every 2 minutes on average
- Difficulty adjusts every 30 blocks, approximately every 1 hour
- Hashing protocol is SHA-256
- Launch Date: October 26th, 2012
TRC is mined in the same way as Bitcoin. However merged mining is not available at the moment due to the differences in the block chains. It can be made possible if the block chain would be altered but if this is done Terracoin is no different from Bitcoin. TRC would most likely be discarded by the community if the merged mining would start.
If you want to start mining TRC you can check out my Terracoin GPU mining guide here
Terracoin mining Pools
There are not many pools out there yet for merged TRC Mining but the ones available can be trusted.
TRC can be traded on these exchanges. Vircurex and bitparking are the most used ones.