TurtleCoin Software Basics
What is TurtleCoin?
If you’re taking this class you probably want to get started using TurtleCoin. Welcome to the community, this is a great way to get to know the software and the basics of using it. If at any point you feel overwhelmed or need help, please find the #edu_help room in the TRTL Network Discord.
TurtleCoin is a distributed, decentralized, privacy focused payment network. That’s a lot of fancy language that might intimidate you at first, but if we examine each term together one at a time, we can figure out what it means really easily.
- Distributed means that TurtleCoin runs on many people’s computers at home, no fancy hardware. A service like Venmo or PayPal has a single warehouse with special high power computers in it that run the entire network.
- Decentralized means that since there’s no single place holding everyone’s balance and processing all of the transactions, nobody can single you out to censor you or stop your money from moving.
- We are privacy-focused meaning nobody can look up your wallet balance or transaction history, just like a bank. This is important to know, because with other networks, like Bitcoin, your balance and transfer history are public to anybody that you have given your wallet address to.
- TurtleCoin means very fast payments. It sounds weird because of the name, but TurtleCoin was build to be a very fast way to move money across the world instantly. TurtleCoin batches all transactions waiting on the network every 30 seconds.