Temtum | The Blockchain Solution to Faster Financial Transactionsj
The most disruptive technology of this era is the blockchain technology and as usual with emerging technologies, it’s find its application in different spheres of human lives most especially the cryptocurrency ecosystem. Most of these existing cryptocurrencies and peer to peer blockchain networks are experiencing phenomenal problems in areas such as scalability, speed and security and it has thus hinder the penetration and positive impact cryptocurrency and blockchain technology would have gotten across the globe. Significantly these are inherent problems that need urgent solutions in order to boost the adoption of cryptocurrency.
As it’s of utmost importance that the speed at which transactions are completed, scalability of the network and security are integral parts of a functional system. These notable limitations are part of the reasons cryptocurrencies has not been regarded or used as a major medium of payment. Without mincing words, temtum has the solution to these problems.
What is Temtum
It’s a blockchain based solution engineered to cater for faster financial transactions. It’s a safe and reliable distributed and decentralized payment ecosystem designed with inbuilt capabilities to enhance speed, trustworthy, secure and scalable platform. The project codenamed “TEMTUM” depicts two technologies in one. The TEM stands for temporal and it uses reduced power, energy and storage . Transactions are processed at an unprecedented high speed and it uses low resourced devices in its operations associated with high level security features. It’s advanced security features. Temtum is working towards positioning itself as a foremost payment option where its cryptocurrency referred to as TEM will be used and in high demand. The TEM will be easily deployed alongside existing payment infrastructures and will be used for payment purposes by businesses and consumers.
What You Should Know About Temtum
With the advanced technology deployed by Temtum team and its developers, any devices with internet capability will run Temtum successfully and that’s a huge advantage. It achieved a feat yet to be surpassed by integrating its network in a BMW i8 car as a full node in a network. The Temtum network is deploying a technology known as Temporal blockchain which allow data to be stored locally by archiving and thereby reducing storage space that would have been used as done by other existing platforms or cryptocurrencies. It doesn’t operate on the Proof of Work mechanism instead it combines the Temtum consensus algorithm and temporal blockchain technology with greater efficiency and output.
Existing Problems
Scalability: This is a foremost problem bedeviling the blockchain and cryptocurrency ecosystem as it puts pressure on usage of high computational power as as such deprives the system of any form of full decentralization.
Speed: The speed at which transactions are finalized or completed is still a major drawbacks regarding the adoption of cryptocurrencies as a mainstream financial payment gateway to replace traditional currencies. Sometimes these transactions could take between 10-15 minutes or longer as the case maybe occasionally attributed to network congestion.
Security: Every investor is very conscious of the security of his or her assets that could be compromised by advanced and experienced hackers.
Resource usage: Majority of these cryptocurrency and blockchain projects utilizes restricted consensus mechanisms like Proof of Work (PoW) which are inimical to the environment as huge energy is needed for functioning.
The Available Solutions as Profered by TemTum
Security: The photon source will be used to generate random numbers with hashing algorithms and as such the network will not be susceptible to theoretical attacks. It’s a quantum secured blockchain network. This will eventually checkmate security problems.
Speed: Temtum users will enjoy high transaction speed and the only limitation that will be experienced regarding speed will be as a result of the capabilities of the devices used to connect. It’s dependent on device’s hardware and bandwidth. It’s been carefully designed t to get transactions confirmed within 12seconds and such speed is highly commendable. It’s deploying a very effective and efficient consensus algorithm in order to eliminate block size limitations with connection to confirmation time.
Scalability:Data archiving is done locally by the Temporal blockchain thereby bringing node competition into non-existence. Smartphones can be used to connect thereby increasing and encouraging participation and wider reach to users. Such efforts is geared towards the drastic reduction in resource requirements needed to access the Temtum ecosystem.
Temtum Token
It’s the main driving force of the Temtum platform and its native token. It’s referred to as TEM. The token can be used for several purposes such as a medium of exchange, for payment within online gaming platforms, Point of Sale (PoS) mobile payment and e-commerce applications payment
Conclusion
Temtum network has given succor to cryptocurrency enthusiasts to be able to carry out transactions in reasonable time with confirmations. It has high throughput and it possess no danger to the environment because it uses lesser hardware and power resources in achieving its goals. It’s a project that advocates eco-friendly measures to its operations. Having Temtum achieving the feat of being a mainstream payment gateway for businesses will be an edge to drive the massive adoption needed for the cryptocurrency and blockchain globally with high transactions per seconds and getting transactions confirmed almost real time. It has the capacity to deliver up to 120,000 TPS (transactions per second) which is a super speed. It doesn’t require much computational power and resources to function optimally.
More useful links below for further information;
Website link:
Whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
GitHub: https://github.com/
Author’s details
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1777715