A lot of people are starting to wonder, “What is Teen Coin?”
Teen Coin is a cryptocurrency designed to help young entrepreneurs develop business use cases on the blockchain.
The coin can be bought, sold and traded between users……so how does it work?
First, let’s take a look at Teen Coin on the Saturn Network since it is a decentralized exchange allowing users to trade anonymously:
The Saturn Network is a decentralized cryptocurrency service provider for ETH and ETC tokens, and is the chosen exchange of Teen Coin because of it’s dedicated Development Team and best-in-class technology:
Installing Your Saturn Browser Wallet
Once you have some small amount of ETH in your wallet to cover gas, you can then buy and sell Teen on Saturn Exchange. Then you can send to any ERC20 mobile wallet easily (Imtoken works great!) and convenient without KYC.
Know-Your-Client or KYC goes against the central principles of decentralization and anonymity…principles which blockchain technology was founded upon.”
“In Canada and the United States, KYC poses a problem for teenagers being able to freely use cryptocurrency because of privacy laws. In many cases, people under the age of 18 or 21 are not allowed to share their personal information and identification because of the Child and Youth Protection Act. Having the freedom to trade Teen anonymously on Saturn became the natural choice for Teen to evolve towards.” -Billy Gates
Parents are much happier knowing their children can trade on Saturn without a 3rd party exchange having access to their child’s private information……
“I don’t want my kids having to go through any KYC to trade Teen. This is supposed to be fun for the Teens, not some of organized, bureaucratic scheme,” says Mrs. Buffett. “Maybe in the future when they want to go through the KYC process, they can do that, but for now, anonymous trading on Saturn seems like the best way to go.”
What does this mean for HRC20 and HTML?
The problems with the hrc20/html version of Teen are the lack of a mobile wallet and restrictive trading access due to Bunker’s KYC process. Verified Bunker users and professional investors can still enjoy trading on the HTML Bunker Exchange, but will not have access to mobile wallets or anonymous trading. However, HRC20 users can still enjoy a cheaper gas price on the html blockchain and full functionality of the desktop wallet.
“It’s all about your preferences…If you are a professional trader and want to use the althash chain with a desktop wallet and go through KYC to trade on the Bunker, then this might be an excellent way for you to keep track of your funds……If you just want to send coins using your mobile wallet and make anonymous trades on Saturn Wallet, then that might open more business opportunities also.”
Moving into 2020
HTML Althash Teen and ERC20 Teen are both viable blockchain solutions for enterprise and investors regardless of age. While teens and young adults are encouraged to consider using TEEN as a test project for developing their business or organization, like any decentralized project, it is all about community growth and banding together to make something better. Embracing development of the project for the good of the project is something that will become more prominent in 2020 as we continue to look for a stable development team for this project, and continue accepting applications for sponsorship.