temtum Network: Cryptocurrency Breaks Into Mainstream
Blockchain is Highly Potential But.......
Today's blockchains are greatly limited in terms of performance, and so are still underdogs compared to traditional systems. Most cryptonetworks cannot have low transaction throughput, high latency, and slow speed compared to established systems used for large scale operations in business environments.
Arguably, the most prominent use case of blockchain is for payment solutions. As a matter of fact, the first practical use case of Blockchain is Bitcoin, which was conceived as a trust-less peer-to-peer payment coin that excludes intermediaries. After a decade of its introduction, bitcoin still struggles with speed and scalability issues, as it's underlying network can only process about 3 transactions per second (TPS). Other cryptocurrencies that came after it have not really fared better.
Due to these challenges, cryptocurrencies are yet to attain global prominence. It holds so many promises, but the execution has been very slow.
The advantages of cryptocurrency as an alternative payment solution cannot be overlooked. Cryptocurrency does not require third-party intervention to mediate transactions, it is highly suitable and optimized for cross-border transactions, it boasts of very low transaction fee, and it goes through almost instantly. Therefore, cryptocurrencies are well suited for international trades and payment transfers.
No wonder, many projects have sprung up in the last few years, aiming to fix these blockchain issues; but improvements have been minimal.
This is why a team of world renowned cryptography and cybersecurity experts, headed by Richard Dennis, have decided to come to the rescue. They developed a new cryptonetwork that can power the cryptocurrency for global adoption for real-world transactions; that cryptocurrency is named temtum (TEM).
temtum is the next-generation blockchain-powered global payment coin for ultra-speed, feeless, convenient global transaction.
The technologies backing TEM are unique and purposely built, thereby making temtum to be better than existing cryptocurrencies in manifold magnitude.
temtum runs on the Temporal Blockchain and temtum's proprietary Consensus Algorithm. These technologies allow temtum to be capable of processing 120,000 tps with a maximum confirmation time of 12seconds. This is mind blowing and unprecedented so far in the industry.
Even established traditional payment platforms such as Visa are short of these accomplishments. And who does not desire efficiency? It is just a matter of time and round-table discussion before temtum network begins to power giant global payment services providers.
Competitive Edge of temtum Over Other Cryptonetworks
Unlike many blockchain startups and existing projects that are more of whitepaper and bogus claims than proofs, the primary underlying technology of temtum network have been successfully developed, tested in-house and also verified by third-party cybersecurity firm.
Energy-efficient, economical and eco-friendly
Most cryptocurrencies run on blockchains based on Proof-of-Work (PoW) consensus mechanism. PoW has a very big appetite for energy, and consumes same energy as the whole of some countries such as Switzerland, Hungary and a few others. The carbon footprint of running mining farms and pools is a source of concern. Even miners are finding it non-lucrative as before.
temtum's approach to consensus is unique and based on its patented Consensus Algorithm which makes sure that only a single leader node is selected to validate transaction. This eliminates unnecessary competition and resource wastage for block reward. The end result is a high-performance and efficient network with low energy consumption.
temtum network is sustainability defined.
A cryptonetwork of many first
temtum is the first cryptocurrency to use a quantum source of randomness to secure the network. This means that TEM is a quantum-secure coin that is potentially resistant to the brute force of quantum computing.
Another interesting first from temtum is the deployment of the temtum network in a BMW i8 smart car. This is the first time a car would be used as full node (with no extra hardware) in a cryptonetwork.
Decentralization further entrenched: Anyone can participate
One of the main features of blockchain is decentralization; however many supposed cryptonetworks are far from being decentralized. temtum eliminates the high barrier in terms of resources to participate in the network by allowing any device, irrespective of its computational capacity, to join the network.
This would end up being the most important feature that will globalize temtum as an everyday payment solution because it incorporates ordinary people with ordinary internet-enabled devices.
The efforts of existing blockchain projects to develop a cryptocurrency ready for global adoption are recognized, however temtum offers a much better approach than these networks.
With temtum, crypto will be preferred as a payment option for peer-to-peer transaction anywhere in the world.
TEM is the cryptocurrency for now and the future of payment.
Links to Official Resources
Author's BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1418203