What Is Tessla Coin (TSLA)?

Tessla is a payment gateway based on cryptocurrency that combines big data intelligence and blockchain security to optimize financial transactions. Tesla is designed to provide online consumers and fintech companies with an efficient payment gateway solution compatible with both mobile and desktop versions. The platform also seeks to provide a decentralized payment gateway that leverages big data technologies to further enhance data management, payment transactions, and research analysis.

The claimed features of Tessla Coin are as follows:

1. TesslaPay API & Plugin: TesslaPay is a crypto payment gateway that provides merchants and their users with a secure transaction processor powered by big data and blockchain.

2. Tessla Dashboard: The Tessla Dashboard is designed to provide merchants with business insights, transaction history, and other data related to consumers' use of TesslaPay.

3. Tessla BD Network: The Tesla Big Data (BD) network focuses on data analytics solutions to capture, optimize, and analyze transactional and fintech data with TesslaDB.

4. Tessla Blockchain: Tesla uses a unique blockchain to secure all of its services. All data collected in TesslaPay, TesslaBD network, and wallets are encrypted and decentralized.

5. Tessla Wallet: The Tesla Wallet is an integral part of the Tesla Smart Payment Gateway. The wallet works as a back-to-back wallet, integrating merchant and user-related functions.

6. TSLA Token: TSLA tokens are used for payments within TesslaPay, to purchase big data analytics and insights within TesslaDB, and as a means of exchange.

According to the whitepaper, Tessla (TSLA) is the native utility token of the Tessla economy. The token acts as a means of exchange for all transactions within the platform while acting as a projected fuel. In short, within the Tessla platform, users can find payment gateways, BD networks, and dashboards—and all of its ancillary services—and must use TSLA to purchase any of these services. Tessla uses the proof-of-work (PoW) protocol algorithm as its consensus algorithm. Despite the existence of other widely accepted alternatives such as proof of stake (PoS) and delegated proof of stake (DPoS), the Tesla team decided to stick with PoW.

TSLA is an ERC20-compliant token, which means that Tessla follows the ERC20 standard on the Ethereum platform. In addition to all the security features associated with the Ethereum blockchain, the token standard has broader compatibility with other cryptocurrencies, as many ERC20-compliant tokens are at the top of the cryptocurrency market.

TSLA tokens facilitate peer-to-peer payments across its various services. TSLA tokens can be used to make standalone payments at crypto-compatible locations within the merchant portal—using TesslaPay (plugin)—to purchase insights in TesslaDB and as a means of exchange. Merchants can use TSLA as a payment method for purchases from external retailers. After purchasing a product or service, users can define what is more convenient for them, be it cryptocurrency or traditional currency. Tesla automatically converts the above assets into TSLA tokens through its payment gateway. The conversion rate depends on the real-time price of each asset involved in the transaction provided by big data technology.

History of Tessla Coin (TSLA)

Tessla's official website and social media channels were launched in the fourth quarter of 2020. The first quarter of 2021 marked the establishment of Tessla, and the coin was listed on major cryptocurrency exchanges. Furthermore, the beta version of TesslaPay was made available to fintech companies in the second quarter of 2021. TesslaPay was fully implemented on over 100 existing online platforms in the third quarter of 2021. Moreover, the TSLA token claims to have ranked among the top 100 cryptocurrencies in the market in late 2021. The first version of the Tessla Coin whitepaper was released in September 2020. 

How Are New Tessla Coins (TSLA) Created/Earned? 

Tessla works on top of the Ethereum blockchain for smart contracts and cryptocurrency transactions. Tessla claims to use Ethereum’s smart contract functionality to create tokens. All information gathered from users via reviews and ratings is stored in TesslaDB. Such stored data shall not be compromised, as the Tessla blockchain claims to be tamper-free. Tessla also intends to use an integrated payment gateway to take advantage of the latest blockchain and data technologies. Tessla’s data mining mechanism helps in examining a large amount of data, and thus new data patterns can be discovered. With Tessla’s own data mining mechanism, data noise is filtered, and only relevant info is processed to accelerate the outcome.