Figment Networks launching Terra Validator
As long-term believers, we’re always looking for end-user driven adoption of blockchain technology — products where decentralization is an advantage to users instead of a burden to overcome.
When we find projects with a strong focus on distribution, go-to market plans, and clear user benefits, we dig in.
And when there is an experienced team with a proven track record of shipping, we really get excited.
That’s why we’re launching a Validator on Terra for their upcoming mainnet.
Why Terra?
Terra is creating a new stablecoin for consumers and a payment system for merchants designed to be used both online and offline. You can expect to see “Pay with Terra” buttons on websites and at the grocery store.
But in a world with Paypal, Alipay, Visa, et. al., how can Terra compete?
“Any merchant realizes that the choice of payment provider is really up to the consumer.”
quote from Evan Kereiakes in a Global Coin Research Podcast (around 34:25).
This is where decentralization may be used as an asset instead of an impediment.
We’re expecting to see low transaction/processing fees, unique offers for consumers, and much more.
The focus on end-user benefits along with the backing of the Terra Alliance should create some special opportunities.
Figment Networks Validator
We’re bringing the same technology and experience behind our other Tendermint/Cosmos Validators, like the Cosmos Hub and the Iris Network, to our Terra Validator.
You can see our performance on the Cosmos Hub to date on Hubble (a Validator tracking tool we created).
If you are interested in more technical details, you can read about them in our post about Iris Network, or reach out to our team at contact@figment.network
We look forward to the launch of Terra on April 24, 2019 and plan to be a genesis Validator. If you’d like to delegate with Figment and have any questions about rates, please send an email to contact@figment.network
And if all goes well, hopefully you can finally pay for your coffee with crypto soon!
