Tectum and SoftNote Promise One Million Transactions Per Second with a Minimal Fee!
Tectum and SoftNote will solve Bitcoin's scaling problems!
The premise of the Tectum blockchain is so tall!
After reading the news about this layer 2 solution to Bitcoin's inherent scaling issues, I am thrilled!
Let's dig as patiently and briefly as possible to learn what cryptocurrency features are in the (future) store with Tectum and SoftNote.
The team Tectum claims to have surmounted the historic scaling issues of Bitcoin with its fast blockchain protocol Tectum and the associated economic payment solution SoftNote, which they call "transactionless."
Tectum blockchain is FAST.
SoftNote can handle FAST and "transactionless" payments with almost zero fees.
How they will achieve this is their inner technological innovation and pain (I suppose those are patent-protected), and they explain the principle and keep the system live for worldwide testing.
In short, Tectum aims to provide a Bitcoin payment system that can try to compete with the traditional debit card and credit card payment systems!
That means, with the Tectum payment cryptocurrency solution, one will be able to buy coffee/tea and pay the cost with Bitcoin!
It is like a dream come true for all Bitcoin enthusiasts and lovers.
Let's check who heads Tectum and if he is accessible!
Before going through the Tectum cryptocurrency project, let me introduce the CEO of Tectum, Russel Sean.
Russel Sean is a human being and can be connected on LinkedIn.
He doesn't hide with a fictitious profile photo in Discord or elsewhere.
We can see that Russel replied to a question about ten months ago when the Tectum cryptocurrency project was officially launched.
I will connect with Russel on LinkedIn and check his other relevant projects.
What is the Tectum blockchain?
Before even reading any externally written blog on the new Tectum blockchain protocol, watch the official Tectum video to explore it yourself!
One should read the facts from the Tectum website as displayed in screenshots.
If I reproduce all about the Tectum blockchain in a nutshell, the highlights are:
Tectum blockchain adds a layer of interoperability, scalability, and utility that were not catered by the earlier three generations of blockchain, namely Bitcoin blockchain, Ethereum blockchain, and the Solana, Polkadot, etc.
Key claimed achievements of Techtum blockchain are quite big!
Tectum achieves fully decentralized consensus at more than one million transactions per second.
To be precise, Tectum has achieved a terminal speed of approximately 1.38 million transactions per second under load with nodes covering three components.
Tectum consists of three different blockchain layers:
Top Tier: It consists of a stack of transactions ending with the last block's hash.
Middle Tier: It distributes the transactions stack throughout the network to create blocks and accomplish consensus.
Lower Tier: It replicates and stores large volumes of data as a decentralized database.
Surprisingly, the Tectum block size is a mere 120 bytes.
Each Tectum block contains only one transaction.
All the above features of the Tectum blockchain are essential to achieve the claimed speed and high network latency.
Tectum's consensus mechanism is named "Proof of Utility."
The Tectum team describes its consensus mechanism as a "Proof of Utility" because Tectum's consensus is useful proof of work that doesn't misuse or waste resources in unproductive energy-intensive computation.
The computational work under the "Proof of Utility" comprises ensuring provable connectivity to create peer-to-peer node connections, guaranteeing high network latency, and validating the hashes generated by the randomly chosen master node.
Tectum consensus ensures each node contributes more productively consuming less network resources, making the chain more energy and computationally efficient.
Tectum's speed and flexibility enable it to work as an overlay network to other blockchains, such as Bitcoin.
SoftNote is Tectum's "Transactionless" payment system.
We can see from the above screenshot that people invest and test the Tectum blockchain-based payment system.
One must watch the official video of Tectum's "Transactionless" payment system SoftNote.
SoftNote is a cryptocurrency payment system with the following features.
Tectum's SoftNote is a fast cryptocurrency payment system with minimal fees and maintains privacy and security.
The key features of SoftNote claimed by the Tectum team are excellent.
Transparency: Unlike other debit cards, credit cards, and cryptocurrency-based cards, SoftNote is trustless, decentralized, and senses the cryptocurrency under use. SoftNote grants bona fide access to cryptocurrency for payment, which is visible in the blockchain explorer.
Scalability: Most layer 2 applications for cryptocurrency payments, such as Lightning Network (LT), fail to handle the increased volume of transactions (Bitcoin and LT users know the frustration). Tectum blockchain claims to enable it to process 1.3 million transactions per second.
Anonymity: Many cryptocurrency payment systems require extensive personal information, KYC registration, and cryptocurrency wallet addresses. SoftNote is identifiable with only a Pass Code and serial number, which ensures the cryptocurrency transaction is private and secure.
Boundlessness: The simplicity of SoftNote enables it to be integrated into any system without disclosing a specific wallet address. SoftNote can combine the benefits of fiat cash and electronic payments, making it fungible and convenient.
With all the features claimed, SoftNote will be a game-changing payment system with unparalleled transparency and scalability.
Tectum and SoftNote promise excellent cryptocurrency experiences.
Tectum is a third-generation blockchain after Bitcoin and Ethereum blockchains.
Tectum blockchain can handle approximately 1.3 million transactions per second.
Tectum's payment application, SoftNote, can handle cryptocurrency payments with high speed, almost zero fee, and maintain privacy and security.
In short, Tectum and SoftNote will provide unmatched high speed and solve the inherent scalability issues of Bitcoin.
Conclusion
The premise of the Tectum blockchain is so tall!
The claims of SoftNote are also very high with a staggering 1.3 million transactions per second and almost zero fee per transaction!
If the big claims of Tectum and SoftNote work, the users of Bitcoin will be on the moon!
<> Originally published on Publish0x.
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I am a researcher and contribute to the overlapping areas of STEAM (Science, Technology, Engineering, Arts, and Mathematics). I am an active user and promoter of GNU/Linux, Free and Open Source Software. I develop cybersecurity and information security solutions, specifically graphical authentication security.
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December 25, 2023