Terracoin is an open source peer-to-peer cryptocurrency with a strong focus on the payments industry. Terracoin offers a form of money that is portable, inexpensive, divisible and fast. It can be spent securely both online and in person with only minimal transaction fees.
Based on the Bitcoin project, Terracoin aims to be the most user-friendly and scalable payments system in the world. In addition to Bitcoin's feature set, Terracoin currently also offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Terracoin network to pay individuals and businesses for work that adds value to the network. This decentralized governance and budgeting system makes it one of the first ever successful decentralized autonomous organizations (DAO).