Frequently Asked Questions

How will the upcoming hard fork change the block reward?

Each block that is generated on the blockchain gives out a reward. Currently for TRC it is 10 TRC per block. This happens approximately every 2 minutes with TRC. The block reward also includes all transaction fees that happen during that 2 minute period.

After the hard fork, the split between the miners, masternodes, and decentralized governance is below.

Miners 45%
Masternodes 45%
Decentralized Governance 10%

How will the upcoming hard fork change the terracoin specs?

Before Hard Fork After Hard Fork
Algorithm: SHA-256 Algorithm SHA-256 Algorithm
Coin Supply 42 Million coins 42 Million coins
Block Generation 2 minutes 2 minutes
Reward Halves Every 1050000 blocks Every 1050000 blocks
Masternodes None Yes, 5000 TRC as collateral
Decentralized Governance No Yes
Instant Send No Yes
Merged Mining Yes Yes
Dark Gravity Wave Difficulty Recalculation Yes Yes

What is Decentralized Governance?

Decentralized governance is the ability for masternode operators to put in proposals and to vote on proposals that spend the TRC that is generated from the block rewards sent to decentralized governance.

Everyone with a masternode can put in proposals for what that money is spent on. Each proposal is then voted on by masternoe owners. If the proposal gets enough votes then it goes into effect. Here's a hypothetical scenario to show how it works.

Let's say someone wants to make a Youtube video explaining how Terracoin works. They own a masternode so they write up a proposal explaining that they have experience creating content for Youtube. They say they will make the video for 2000 TRC and they post examples of content they have created for Youtube in the past.

The proposal then goes up before all of the masternode owners to vote on. If the majority of masternode owners like the proposal and vote for it then it passes. 2000 TRC is then taken from the total monthly (21,600 TRC) decentralized governance budget and sent to the proposal creator. If the proposal doesn’t pass then the 2000 TRC is left in the budget.