TEMTUM : A MODERN TRUSTED NETWORK FOR FINANCIAL SOLUTIONS.

in blockchain •  last month 

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INTRODUCTION

Since the inception, the crypto space has been so useful in transforming the digital world. It has since then been regarded as the next best innovation following the internet because it makes online deals very smart and secured. Also, it represents an immutable ledger technology for allround data distribution throughout the world with great trust as it was not under any form of centralised body. But for it to function so well in the financiaI world, more than trust is apparently needed, and that justifies why it hasn't done so well with finance.

PROBLEMS OF THE EXISTING PLATFORM

The existing networks have faced some major downsides that have aftected the whole system, failing the users and limiting adoption of cryptocurencies for payments. They are;

The slow speed of execution of tasks which is not good enough.

The proneness of the processes to hacking by third parties as the proof of stake algorithm is used.

Wasteful use of resources with a negative consequence to the environment.

Extremely low scalability.

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THE SOLUTIONS BROUGHT BY TEMTUM

For necessary industrial applications, the limitations that has affected operations of crypto users for so long have been countered by the measures put in place by TEMTUM. They all work together to provide suitable payment purposes across borders for both companies and individuals concerned. For each of the problems highlighted above, this platform has the effective solutions that serves the whole community so well.

Improved Speed of Transactions

A faster speed is introduced to the digital system for all operations with the highly functional algorithm. This reduces the time of verification to just 12 seconds unlike before when it use to be about 10 to 15 minutes. There is no longer block size limitations except that of the bandwidth and hardware. A single block can function without being aided with any other one and yet it remains so perfect.

Higher Scalability

This solution is brought about by the temporal structure that prevents all the nodes from being used up. On the other hand, competition is avoided when there is need to pick from the existing nodes. The right technology is used for this as all the users participate in all the processes using their smart phones or other IoT devices that they own. Perfect decentralised services are provided to show that the scalability have truely become higher.

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Less Energy Utilization

Since mining has constantly been the reason for high consumption of energy, the new consensus algorithm eliminate the need for mining operation as well as the proof of work that has been used so that less energy is consumed. This therefore impacts the environment as the proof of stake substitutes the PoW network. When we look into the Bitcoin operation and the cost involved in all of the processes it allows, the cost on energy made it too high even though Bitcoin is a bigger platform that TEMTUM. Now temtum is able to allow more that the 7 transactions per second that the Bitcoin could not exceed and also verify as many transactions as possible with no cost charges at all. This is incredibly awesome because the cost associated with transactions earlier in other platforms were high and could not be beaten down, so having temtum do this will make users so glad and free.

Security Solution

All forms of theoretical attact on users work is prevented by Temporal network in the platform which uses a secure photon source for the production of random numbers of the hashing algorithm for providing security against hackers. This is what keeps the platform and operations in it from every form of attack that can be experienced both in this generation of users or next.

The form of scalability achieved in temtum is nothing less than perfection, fully decentralised with swiftness in the process. It combines this with low use resources to cut down cost in the most efficient way. The Security is of great cryptographic proof. The architectural system removes every barrier on the nodes but still holds it depending on the bandwidth. The block size of the transactions is removed by the improved routing so that node can be selected randomly to confirm or verify them within the shortest possible time.

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CONCLUSION

The throughput has only one restriction which can be from the type of hardware used by the users or the bandwidth of the devices. Asides this, nothing else can affect the throughput to an extent that TEMTUM achieves up to about 120, 000 TPS with great speed. This is what the environment holds for all those participating in temtum. One more thing is the fact that the Temporal network stands as the major elements that brings about the agreement of the algorithm as they have been planned to work together to improve finance.

USEFUL LINKS
Website: https://temtum.com/
Whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
Telegram: https://t.me/temtumcommunity
Twitter: https://twitter.com/wearetemtum
Facebook: https://www.facebook.com/wearetemtum

AUTHOR'S DETAILS
Bitcointalk Username: Ifychuks
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2397927

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