Thelassia Network Solutions

Thelassian Currency (THC)

THC is Thelassia's national currency. As Thelassia Network Solutions, we provide the infrastructure and technology to support this innovative financial system. Here's a detailed look at THC's unique features and mechanisms:

Reserve-Backed Stability

THC is backed by a national reserve of Bitcoin (BTC) and physical gold, ensuring stability and intrinsic value. This approach combines the benefits of cryptocurrency with the stability of traditional reserve-backed currencies.

Currency Creation

New THC is created when BTC is added to the reserve. For every 3 BTC deposited, 1 BTC worth is used to purchase physical gold for the reserve. This mechanism ensures a balanced and stable growth of the currency.

Unique Redemption Process

When a participant on the network wants to "cash out," they receive payment in the form of BTC and physical gold, not USD or any other fiat currency. This process effectively burns the THC, maintaining the currency's scarcity and value.

Validator Node Operations

Validator nodes play a crucial role in the THC ecosystem:

• They run node software to verify the ledger of all THC transactions.
• In the background, they mine existing mineable cryptocurrencies, with mining targets determined by hardware specs and profitability.
• 80% of mining profits are converted to BTC, added to the reserve, and used to create THC as a reward for the validator.
• The remaining 20% is held until it accumulates to 1 BTC worth, which is then used to purchase gold for the reserve without triggering THC generation.

Secure Ledger Validation

Validators maintain a confirmation ledger of validation reports generated at each step of the chain when processing a financial transaction on the network. All validators maintain this ledger, which is checked as the final step to ensure all ledgers match for each step of the transaction throughout the network chain, ensuring maximum security and transparency.

Unique Economic Model

The THC system distinguishes itself from both traditional fractional reserve banking and typical cryptocurrencies:

• Unlike fractional reserve banking, THC is fully backed by tangible assets (BTC and gold).
• Unlike most cryptocurrencies, THC has intrinsic value through its gold backing and can be redeemed for physical assets.
• The dual mining reward system (80/20 split) ensures both validator incentivization and continuous appreciation of the currency's backing.

Future Growth and Appreciation

As Thelassia begins resource extraction and mining operations, additional gold can be added to the reserve without creating new THC, further appreciating its value. This mechanism allows for the natural growth of the currency's value in line with the nation's economic development.