Evolved cryptocurrency - TemTum
Crypto world is there, but needs one more big thing to become mainstream, and that is mass adoption. Up to now, mass adoption is not in progress, since there is a need for a technically advanced knowledge to use blockchain and crypto networks, and more important there is a bunch of passwords and private keys that need to be carefully stored by users, which is not the usual situation in everyday life, and people are simply not used to it. On the other hand, current crypto nodes require a lot of power to be established, and that is also an issue.
TemTum is providing a solution that addressed recognized issues with blockchain networks, that are scalability, speed, resource intensity, that is already discussed in first paragraph and security, that is also addressed through passwords and private keys, that are endangered due to development of quantum computing, that could possibly predict software generated values.
Scalability issues is solved because temporal blockchain, which is first part of TemTum, is not requiring that node is storing entire chain history in local archive, and significantly reduce resource requirement, which is allowing all computing devices, such as mobile phones for example, to be nodes in the network, which create full decentralization and infinite scalability. Speed issue is solved with highly efficient consensus algorithm, with a maximum confirmation time of 12 seconds, and no limit to block size. Since malicious forks are not possible in the system, transaction is approved and confirmed at the moment of block inclusion, which reduce needed time. Consensus algorithm removes the need for mining, needed in PoW – proof of work algorithm, and it requires less energy, on a incomparable level, and environmental impact is lowered, which is an issue with coins similar to Bitcoin. Regarding security, TemTum is quantum secure blockchain network, and use photon source for genuine random number generation, alongside next – generation hashing algorithm, which is creating quantum attack proofed system, that is adjusted to future needs. According to TemTum whitepaper, technology is fully developed, and tests are already deployed with networks nodes, where BMW i8 and BMW 220i are used as nodes of in-car wallet.
Bitcoin, Nano, Hedera, Ripple and Stellar are recognized as competition, whereas Bitcoin is most famous, but technically unadvanced technology with a lot of limitations, Nano is requiring two-step process for transaction, Hedera Hashgraph is not a blockchain, and have security issue with a need for lower than third of malicious nodes, Ripple is real-time gross settlement system, and could not be seen as competition and same story could be said for Stellar, which could be seen as Ripple hard-fork, created by ex-Ripple employee.
Project website: https://temtum.com/
Project whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=1573369