TerraGreen consists of a blockchain powered attempt for micromanaging biomass wastes from agricultural & forestry sectors which converts it to the renewable energy products through natural resources.
Moreover, for the Terragreen project, Terragreen would produce its own coins and these coins will be distributed to the general public for the crowdfunding. The investment made in the coins would be profitable to the major Biomass plant as well as to the general public where they can gain through their investment and plant can produce more amount of renewable products. These would help to increase the value of Terragreen coin and its products economically. Though its all about profit earnings and earning more funds.
These renewable energy products, at the end of the process, will be in their greater heights of economic values. With TerraGreen Coin, consumers can directly participate or involve in the biomass waste management and production of renewable energy products, which in return support the green energy revolution.
TerraGreen is essentially a DAO (Decentralized Autonomous Organization), governed autonomously on the basis of pre-defined instructions in the form of smart contract. There are various smart contracts in a DAO. The smart contracts delve into the realm of, but are not limited to, Combined Heat & Power Optimization (CHP), Synthetic Natural Gas, Hydrogen Production, Synthetic Fuels, SOFC, Green Chemistry, Activated Carbon, and Pulp. This is where the blockchain technology and several sub-programs offered by TerraGreen Coin comes into the picture. Our goal is to create a truly sustainable, clean community development around the world while directly allowing consumers to directly participate in the renewable energy industry.
Types of blockchain used in Terragreen
The Terragreen project decided to create their own blockchain, with very different properties than other cryptocurrencies, decoupling the layer from the core blockchain protocol, offering a radical new way to create online markets and programmable transactions that are as following:
Public blockchains are just that, public. Anyone who wants to read, write, or wish to connect a public blockchain can do so. Public chains are decentralized meaning no one body has control over the network, ensuring the data can’t be changed once if it is validated on the blockchain. It Simply indicates, anyone, anywhere, can use a public blockchain to input transactions and data as long as they are connected to the network. In Terragreen, all the nodes connected in the network can see the transaction of each other and the entire activities taken by the individuals among the network.
Blockchains that are private or permissioned work similarly to public blockchains but with access controls that restrict those that can join the network, meaning it operates like a centralized database system of present that limits access to certain users. Private Blockchains consists of one or multiple entities that control the network, which leads to the reliance on third-parties to transact. A well-known example would be Hyperledger. Private blockchains can only be used by those who has been invited by the network’s administrators.
Centralized blockchains offer much more customized and control over the network to the organization deploying it as they can decide who gets to participate in the network. This signifies that not as much resources have to be invested in competing to secure the network which makes Centralized Blockchains more environment-friendly compared to their Decentralized counterparts. In Terragreen centralized blockchain a group of users connected to centralized authority can only see the transactions and all the activities take placed between the connected nodes within the specific network that runs the transaction. However, in a centralized network, only known and identified parties can transact on the ledger. Therefore, their transactions can be audited.
How blockchain technology works?
At the core of blockchains is their accord algorithm. This algorithm is based on SHA-384, which is one of the latest algorithm in todays world. This SHA- 384 algorithm is only used by the Terragreen. At present, the most generally utilized model is proof of work (PoW) .
Well, a blockchain is a chain of blocks, ordered in a network of non-trusted peers. Each block would reference the previous one and contains data, its own hash, and the hash of the previous block. All blocks can store an amount of money, a share of the company, a digital certificate of its own ownership, a vote during an election process, or any other values. A block for an ecommerce transaction will contain the identifiers of the retailer and consumer as well, for example. Each block also has a hash. This hash is a value generated from a string of texts using a mathematical function.
TerraGreen Token Module
Firstly, we are going to create is a “Token Module” where “Tokens” comes under the TerraGreen system which includes various of trading goods. These goods are all about the coins, all loyalty points, gold certificates, shares, IOUs, in game items, and creamy brands etc. Since long, all the tokens module implements some basic features in a standard manner, this also concludes that our token will be instantly compatible with the TerraGreen wallet and any different client or contract that uses the same standards.
Terragreen token module comprises of IDE using Graphical user interface (GUI), where drag & drop feature is major com fort to the users.
The drag & drop features the device gestures, through which the user can select a virtual object by "grab it” and “drag it” to a particular location or onto another virtual object inside IDE.
Drag-Drop is a latest feature in today’s technology which is only available in our TerraGreen. This technique is not found in all the other software, user would find it as quick & fast-to-grasp this technique. The token module of Terra green has an enhanced GUI features which are more convenient to the users to create its own token using terrageen token module. TerraGreen tokens modules are being built on the formation of the blockchains. It’s tokens have different - different nodes through which it is accessible. And these nodes can be created using different names.
All these tokens are properties of entities. And if we add new field in node then these field will be available as token. Terragreen token module would require token generation and its return value properties. Token properties will comprise of the following:
- Name of the token
- Description of the token
- Data type must be provided, these data type will be used for text being processed.
The creators of the token will issue the token to others in exchange for Terragreen and sometimes bitcoin and other digital currencies. Generally, there’s no requirement that tokens should be well distributed, although it is a decentralized application so the tokens should be owned by as many people as possible.
In cryptocurrency today, a terragreen Coin might be a great start. The perception to presale coins of a cryptocurrency or token of a Terragreen blockchain project will evolve in a crazy successful instrument to raise funds for the advancement of a new application.