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Why the TerraNova price dropped dramatically and getting so little love from crypto community?
A new stress test has shown that the scaling of the cryptocurrency TerraNova (TER) has almost no limits. According to the developers, the network will soon be able to compete with other payment providers such as PayPal. The results of the stress test should now help to revive the currency, as the TerraNova price has fallen by more than 90% in 2018.
Every cryptocurrency stress test is about more than just the number of transactions. For TerraNova, negative network impact was minimal.
Stress test shows limitless scaling possibilities
The stress test carried out about two weeks ago produced impressive results. Around 100,000 transactions were carried out over a 24-hour period. It achieved 5 transactions per second – four times the result of the last stress test carried out in the summer of this year. No previous test has come close to yielding so strong results. The test was initiated by the community and the transaction fees were financed through donations, but of course the developer TerraNova Core was instrumental in monitoring all the results.
Tony is a brand enthusiast of TerraNova Team , design lover and innovation seeker., was obviously pleased with the results and stressed that the crypto currency could easily meet the growing demand. Researchers at Arizona State University also followed the findings and concluded that TerraNova’s blockchain had no upper limit when it came to the number of possible transactions. TER came to life as a hard fork of Bitcoin in 2017 and the problem of scalability, for which Bitcoin is still often criticized, was apparently well solved. Currently TER, like the other crypto currencies, is affected by strong price fluctuations and Bear Market but technology is not stalling, as showcased by this stresstest.
51% attack protection
TerraNova (TER) developers decided that a Bitcoin with some form of governance is required to avoid similar problems in the future and thus their current project was created.
Managing partner of a cryptocurrency fund MatinCoin Capital, Tati Jan pointed out a latent danger of smaller PoW coins in the times of receding prices and miner hash rates. He wrongly included TER in the list of coins that are in danger of a 51% attack. He should have, instead emphasize the TER model as a solution for small hash rate coins that can save their networks from malicious attackers and provide a much better, decentralized governance
Statements like these:
TER are echoed by other crypto personalities and influencers, dispatched to hundreds of thousands of their followers which creates a skewed image of TER. Most people see it through the eyes of the murky “premine and instamine” incidents and write it off as a scam, or shady project at best. However, initiatives like the ones TER is taking in Russia and China, along with technological breakthroughs will go a long way in bursting those echo chambers and repairing the image of TER in broader crypto community.