The block speed, for example, is 1 block per second, compared to 1 block per 10 min for Bitcoin. It will be a real Proof-of-Work (POW) coin that can be mined and runs on its own network unlike 90% of all the others coins.
Don’t be confused by the name Travelflex since the coins can be used for almost anything payment related, not just traveling.
VISA can handle on average around 1,700 transactions per second (tps), call it a daily peak rate of 4,000 tps. PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014. Today the Bitcoin network is restricted to a sustained rate of 7 tps due to the bitcoin protocol restricting block sizes to 1MB.
Recently with improvements, let’s imagine the blocksize doubled to 2MB, so the rate also doubled to 14 tps.
Bitcoin – 3 to 4 transactions per second for 1MB, 6 to 8 tps for 2MB (Cost= 2-10 USD+) for 1MB
Ethereum – 20 transactions per second (Cost= 0.01-0.1 USD+)
Paypal – 193 transactions per second average
Iota 500 to 800 transactions per second on average
The Initial Coin Offering (ICO) will start December 14th 2017 and end January 14th 2018, or until all coins are sold, whichever comes first. There will be 100,000,000 coins for sale. 95% of the coins will be sold to the public and 5% will go the bounty program, the founders will not keep any coins for themselves. The founders will follow a founders reward model based on Zcash. When mining has started, 90% of the newly created TRF will go to the miners, 2% will be donated to charities, and 8% will go to the founders. After 4 years, this construction will stop and the coins will go to the miner and to charities. This will mean the founders have more interest in supporting the product and they will have no ability to ‘pump-and-dump’. This should give you more trust in Travelflex. The founders hold NO pre-mined coins. One (1) Travelflex coin will have a price of $0.28.
To participate in the TRF pre-sale, you can pay with the following currencies: Bitcoin (BTC), Bitcoin Cash (BCH), DASH, Ethereum (ETH), Litecoin (LTC) or fiat currency. The exchange rate that will be used for paying in coins, will be the equivalent of the price in USD at that moment (rates will be taken from online resources, the actual exchange rate may differ from the exchange rate used due to the volatility of the cryptocurrencies). Coin will be transferred to buyers upon payment confirmation. The transfers will be done manual, it might take up to 3 weeks after the ICO to send everyone their coins. The purchased coins will not be active until the end of the ICO. There will be 15% extra coins offered as a bonus for purchases made within the first week of the start of the ICO.