If you get down to the details it does make sense why blockchain has been killing it lately. No other innovation can do what it can do with regards to transparency and overall security especially after hearing all those scary headlines regarding data breaches such a technology seems golden. Touted as the future of transacting, replacing dollars and euros, digital currencies are here to stay
But even the best technologies have some drawbacks that block their path from reaching full potential, bitcoin, it’s it’s effect on the environment, mining bitcoin is tough work, analysts estimate the energy spent on computation power trying to mine bitcoin is massive, equal to all the energy produced from some 159 countries. This puts a massive strain on the environment. But even on a smaller scale bitcoin still struggles with important issues such as speed. Bitcoin is very slow, in fact it can only manage to conduct 7 TPS, the other big currency, Ethereum can only manage 30 transactions per second.
I however did my homework and found a company that has managed to clock an amazing 200,000 TPS. This company is called Tolar. A HashNET based platform that promises to revolutionize how business is handled globally. Tolar wants to give enterprises an open, transparent and fast HashNET powered public ledger that’s able to share, replicate and synchronize digital data reliably across different websites, institutions and even countries. All without ever needing a central administrator or a centralized server room.
The company uses its own modified version HashNET mechanism that keeps track of all the happenings within the platform and records it in a sequential manner. Members of the platform will have the data spread to them using a proprietary redundancy reduced gossip protocol (RRG) which is much better than the traditional over structure-based algorithm as it is faster, won’t fold if a system failure occurs and can also handle many users. Tolar needed HashNET to work well in reducing the amount of computational demands needed to keep the system in check
When blockchain was released in 2009, to compliment bitcoin which was released a year earlier nobody really thought it would make sense practically, heck! most people didn’t even bother trying to know what it was, so when Kristoffer Koch bought 5000 bitcoins for just $25 USD, he had no idea how lucky he was, because bitcoin’s price skyrocketed thereafter to a peak of almost $20,000 per coin and although the market price has gone down to just about $8000, Kristoffer Koch’s $27 dollars investment would be worth just over $400,000,000 which is nothing short of amazing. Even vanguard investment group, one of the biggest, most successful firms in the world couldn’t have predicted that kind of outcome.
Tolar and its HashNET technology have a lot of real life applications.
Just from the top of my head!
Tolar can work perfectly with eCommerce.
Keeping up with Security
Everyday eCommerce platforms have to worry about their customers’ information landing on the wrong hands and although encryption measures have adapted well their always a significant chance you might get hacked, Tolar’s secure distributed ledger means the same document is shared to everyone as opposed to everyone getting their own copies this means everyone on the ledger must approve for the document to be edited of updated. If anyone tries to update it without informing others he would have a hard time because altering one transaction record would mean having to alter all the other transactions, too much work plus other member of the network would notice. These features provide eCommerce companies with a better more complete way to keep all customer data safe and away from unauthorized access.
Maintaining Transparency within the community
Another way Tolar can actually benefit eCommerce businesses is with how open its platform is. Through the information given consumers and suppliers can easily access all the date on people who have registered on the platform to find transaction histories, details on reputation as well as their personal information. This not only promotes fairness within a platform it also builds trust within different users. Some portion of the purpose behind the development of DLT is its capacity to interface with new and existing frameworks. For the eCommerce seller, this can mean tie-ins between the online store and a huge number of inside and outer frameworks, procedures, and accomplices. By giving a shared ledger that serves the organization, the online store, and third parties, an abundance of chances ends up accessible for the seller that are only possible because of Tolar.
Managing the supply chain
Not only does the store administrator need to comprehend what stock is in the pipeline and when it will arrive, however it is likewise critical for them to ensure merchants are supplying the correct items requested. The issue of misrepresentation in the supply chain can bring about substandard items being conveyed, or even those with wellbeing related issues. Tolar facilitates supply chain administration trade between different parties within the supply chain via a distributed ledger. This ledger holds information of every transaction and contract ever executed or drafted on the platform.By utilizing Tolar to track the supply chain, eCommerce organizations can therefore guarantee that online merchants don’t substitute items without seeing them, and that straightforwardness is kept up all through the procedure.
Lastly thanks to the availability of smart contracts, customer loyalty programs can be automated within Tolar. Plus, since records of every purchase is stored on a ledger, it’s much easier to find out to who you will be issuing rewards to.
The third and fourth quarters of Tolar’s development and release plan will be a hive of activity both the pre-sale and ICOs will be taking place i this period as well as the release of the exchange listing platform and mobile wallets. The introduction of smart contracts, SDKs and quantum resistant cryptography won’t be available on the menu until mid’ 2019. This is only because Tolar is the best at what it does therefore it would like to everything to work at its finest when it’s released. Which makes perfect sense.
Interested in getting some tokens? Here are some details you need to know.
The company has already blown its soft cap target of 20,000 ETH out of the water, now their pushing to get to their hard cap which is set at 45,000 ETH. Once the funds are raised the team will make sure they put all the money where it has the biggest bang, in this case 55% to fund company operations, 30% going to the research and dev team and 10% being directed into marketing efforts – to get the Tolar name out there, the remaining 5% will be used on legal teams to ensure the company is always complying with laws and regulations
*Do note, The company created a total of 1 billion Tolarz (The company’s token name) which will be allocated as follows: 20% (200,000,000 Tolarz) will be given to the founders, 32% (320,000,000 Tolarz) will be allocated towards developing the infrastructure and technologies for Tolar, 8% (80,000,000 Tolarz) will be given as proof of stake network start nodes, 5% (which translates to 50,000,000 Tolarz) will be split equally between the company’s advisors and the tech developers and lastly the investors who will be getting the biggest piece of the pie – The private sale, Pre-sale and ICO investors will be allocated 40%, 35% and 25% respectively.
These are some of the basics to get you ready to actually participate in the company sale (which has set its ICO dates to start on September 15, 2018 and end on September 20, 2018 – the company will keep it going until the hard cap target is reached.) with all the things going for the company: A great team, breakthrough technologies, a solid business and go to market plan, it’s tough to bet against it.
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