Now, WTF is Ternoa?
Don’t stress out . I’ll be covering everything (atleast I’d like to believe 😉)
Before starting I assume you have some knowledge about NFTs.
No? Google is your best friend :D
Ready . Set . Go!
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Ternoa was founded in 2018 with the goal of developing a technology that could securely store data indefinitely, provide exclusive access to the owner, and allow it to be passed down through generations.
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After two years of R&D, Ternoa was launched in November 2020. The company decided to build its own blockchain using the Polkadot ecosystem, starting with Substrate.
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What’s special?
Ternoa has created an innovative non-fungible token (NFT) called "Capsule" which allows users to use NFTs as a decentralized data storage solution. -
Ternoa has also developed a protocol for NFTs on the Polkadot ecosystem and is currently working on building the foundation for NFTs within the Polkadot ecosystem, enabling the creation of innovative solutions.
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It is designed to incorporate the most advanced decentralized technologies for non-fungible tokens (NFTs), including storage and computing protocols.
(More technical stuff down)
Okay, I get it but which consensus mechanism does Ternoa use?
Well, Ternoa uses NPoS. I’m sure you might have heard of PoS. Here’s a quick headstart on NPoS 👇
The NPoS (Nominative Proof-of-Stake) system can be thought of as an election, with the goal of ensuring decentralization, fair representation, and high security. NPoS aims to achieve proportional justified representation and maximize security through the use of maximin support.
Since Ternoa is based on NPoS which uses nominators and validators.
Who are nominators in Ternoa network?
*Nominators, who are $CAPS holders, can help ensure the network's security by nominating up to 16 validators and staking their tokens on their behalf. In return, nominators receive a share of the rewards earned by the validators they nominated. It's important to note that nominators may also be subject to "slashing" (a penalty) if one of the validators they nominated behaves improperly.
Who are validators in Ternoa network?
To secure the Ternoa network, validators stake $CAPS, validate collator proofs, and participate in consensus with other validators. They must run secure, reliable infrastructure and be responsive at all times. Validators must also have tokens backing them to incentivize rule-following. They are paid in $CAPS rewards for their services.*
Wait a minute. Did I see $CAPS ?
Ternoa Network is fueled by 2,500,000,000 (2.5 billion) of $CAPS **
**Here’s the pie chart of its distribution😋
**“*A coin/token is nothing without it’s utility*“**
- probably some random crypto veteran
What’s the utility of $CAPS ?
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Minting/Creating a new NFT.
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Adding data (collateralizing): This involves attaching information to an existing NFT.
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Encrypting data: This involves securing the data attached to an NFT with a code, making it accessible only to authorized users.
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Transferring: Moving an NFT from one owner to another.
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Staking and Nomination: Discussed earlier , $CAPS being used for incentivizing stackers and validators
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Governance: $CAPS holders have the power to vote on proposals being held on ternoa network
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Launchpad: More $CAPS you hold more rewards you get
(more to be added)
Where do I buy $CAPS ?
$CAPS is listed on several Centralized exchanges (CEX’es) and Decentralized exchanges (DEX’es) like -
CEX’es - Bybit , AscendX , Gate.io
DEX’es - Uniswap , Apeswap , PancakeSwap , Raydium
Wanna bridge from other chains to Ternoa ?
Here’s the bridge connecting to ternoa - https://www.bridge.ternoa.network/
Bonus - Ternoa has its own non-custodial wallet to get hold of your precious $CAPS. Can be downloaded here - https://www.ternoa.network/wallet
So, go on! Swap , stake , provide liquidity , hodl do whatever you want to be a part of ternoa
More fun?
Hell yeah! Lets explore the Ternoa ecosystem!
Check out the dapps built on Ternoa . Go on , try them out 👇
https://www.ternoa.network/ecosystem
Be are part of Ternoa’s community by performing some tasks on Crew3
Join here:- Ternoa Crew3
Are you a developer?
Here’s your way :- Developer’s portal
Wanna go more deep?
Explore from the official website :- Ternoa Official
Docs:- Ternoa Documentation
Litepaper :- Ternoa Litepaper
Socials :- Twitter | Discord | Telegram | Github
Shout out to the Ternoa’s amazing team :- Ternoa Team
My discord :- rp#2938
