Frequently Asked Questions
What’s the difference between using tree planters and competing methods such as planting seeds via drone or using CO2 converters to clean the air directly?
If planted trees are to survive, they need to be taken care of. Tree care is especially necessary in areas that have degraded land. Drones can drop seeds but they can’t prevent animals from eating the seedlings nor can they direct water to the seedlings by irrigation. It requires a coordinated effort, knowledge of local environment, and a labor pool willing to work themselves out of poverty. Our approach: not only do we reforest land, we provide methods to alleviate poverty at the same time.
Similarly, a large CO2 converter can extract carbon out of the atmosphere but it doesn’t do anything to alleviate poverty. A CO2 converter can help clean the air but it can’t replace the ecological function of trees or a forest. Thus, human tree planting/care is the preferred approach.
What is an ICO (initial coin offering)?
An ICO is a means by which funds are raised for a new cryptocurrency venture. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies.
We have chosen a low key strategy with regards to our ICO. We prefer to keep coin sales exclusive and as small as feasible – in the beginning. However, we are convinced of the huge potential of its value, and expect that within the medium term, TreeCoin will be a valuable and mature currency and blockchain technology.
What is a blockchain?
A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.
The blockchain was designed so these transactions are immutable, meaning they cannot be deleted. The blocks are added through cryptography, ensuring that they remain tamper-proof.
What is a smart contract?
A blockchain technology, a smart contract is a computer protocol that facilities the transfer of digital assets between parties under the agreed-upon stipulations or terms. A smart contract is intended to facilitate, verify, or enforce the negotiation or performance of a contract in most ways including, definition of rules and penalties around the agreement, except for the fact that it can also enforce the agreed-upon obligations automatically.
Are TreeCoin and Nxt transactions anonymous?
Like Bitcoin, transactions are stored on the blockchain and are not anonymous. This transparency is important to us as a non profit organization because it creates a publicly open financial record. There are other currencies that provide anonymity, just as there are crypto-currencies that provide value in retail settings – like Bitcoin. Nxt can be exchanged into other currencies, just like any other crypto-currencies can.
What’s the difference between TreeCoins and other crypto-currencies?
Most crypto-currencies are, like paper money, based on “nothing”. TreeCoins are different than other currencies (crypto or fiat) because TreeCoins are rooted in actual trees that are registered and correspond to one tree per coin. TreeCoins aren’t a share of the tree, it represents your share of the benefits of trees and tree care. These benefits include: cleaner air and water, habitat support, a basic income for poor people, stabilized economies, and other related effects.
Further, TreeCoins are based in Nxt. Because Nxt is based on a different technological platform than a coin like Bitcoin, then TreeCoins will share those differences. For example, the Nxt infrastructure can handle high transaction speeds which is important in high volume use.
Finally, Nxt offers an easy to use system with a large and cohesive user community whereas using Bitcoin or other coins might present a more uneven experience.
What’s the difference between TreeCoin and TREEZ?
Technically, TreeCoin and TREEZ were generated on different platforms (TREEZ is from ESI, featuring a lower transaction cost), but for the purposes of these first capitalizations, there is no difference. Both TreeCoin and TREEZ are proof of share coins (representing the investor’s share in a coin) as well as use for exchange (for buying other currencies or purchasing things). Our coin offerings will be listed under both names.
Why not sell TreeCoins directly from this website?
We intend to use TreeCoins as administrative and financial layers for our projects. We also intend to use outside marketing services to sell TreeCoins in volume within the Nxt ecosystem. The Nxt system offers many benefits – high transaction speed is one of them. Due to potentially high traffic and volume of transactions, we have chosen to handle the buying and selling of TreeCoins within Nxt. It’s inconvenient, but to an investor, the big gains are now.