Bitcoin Confidential is a new coin focused on confidentiality/privacy that will be Proof of Stake, using Ring Confidential Signatures and based on the latest Bitcoin codebase for compatibility.
Tera is a decentralized application platform. This is akin to an operating system. Tera consists of a repository of programs and data storage integrated into the Internet. The mechanism for publishing programs and data on this platform is free from censorship. The circulatory system is the blockchain.