TOLAR HashNET REVIEW
What is TOLAR HashNET?
"HashNET is scalable, efficient and high-impact decentralised solution to social innovation challenges leveraging Distributed Ledger Technology (DLTs). This revolutionary algorithm features faster transaction time, masternodes and will have an open source, community governed crypto-currency – Tolar. "
HashNET consensus uses "redundancy reduced gossip" and "virtual voting" protocols based on a distributed computation and algorithms from theoretical computer science, which provides a fair and fast, byzantine fault tolerant consensus algorithm. It is a new consensus substitute platform and is designed to run on a non-permissioned (public) network thereby, reaching a larger community.
HashNET is designed to solve the blockchain scalability problem using the revolutionary algorithm discussed above. It is a new consensus substitute to blockchain, keeping all the good characteristics from blockchain (decentralized, transparent, pseudo anonymous) and increasing speed to more than 200.000 TPS.
Tolar has a governance system called Magnus Consilium in which stakeholders and investors will
have the power of voting on proposals in order to participate in improvements of HashNET
Magnus Consilium will be a part of community in two ways:
Tenders are budgeting plans which will be submitted to the Magnus Consilium where every
proposal will need to have a majority of votes in order to pass.
2. Proof of Stake (PoS)
If a user decides to lock-in his coins, he/she will receive interest based on the number of coins
staked, and the duration of time the coins were stored.
I believe, this is one of the best aspects of Tolar HashNET. Required collateral for Tolar masternode is 500,000 TOL which is around 6500 USD, almost 1 Bitcoin right now which is pretty cheap for a masternode investment.
- Min. Requirements for Masternode:
quad core 64bit processor
▪ 16 GB RAM
▪ 128 GB of available disk space
▪ 50 Mbps symmetrical internet connection
▪ Fixed and unique IP (only one masternode can run at one IP address)
Since masternode operators are spending their resources to help secure the network, they will be incentivized to keep the masternodes running by getting masternode rewards.
Rewards will be comprised of:
▪ transaction fees of all transactions that masternode helped validate correctly and on time
▪ masternode incentives from Tolar monetary reserve fund
Since rewards depend on the transaction fees, it is clear that rewards will fluctuate depending on the network usage. The more people use the network and make more transactions, the more rewards will masternode owners receive. To insure best possible start of the network, for the first 3 years, if masternode rewards from transactions fee fall below 10%, then part of rewards will be taken from Tolar reserve fund to ensure a minimum of 10% ROI.
Surely the best part of Tolar HashNET for me. The company behind the project will be buying back tokens on exchanges with 30% above the market price with 30% of company's revenue and will burn it. This will have an huge impact to the price of Tolar HashNET.
Tolar HashNET has really a long lock time for private and pre-sale investors. This can be a sign that investors are believing the project in the long run.
Tolar has a solid team. They really work hard to deliver what they promise. You can check it from https://www.tolar.io/team/
You can check partners and investors from https://www.tolar.io/partners-investors/ . Generally it looks like institutional investors are backing up Tolar HashNET.
Tolar HashNET's price looks really cheap now. I believe, it gives an huge buying opportunity right now. Especially getting a masternode with just 1 BTC looks impressive to me. Tolar HashNET can be a good investment to hodl for the bull run.
*This is not a financial advice.