When most people are asked about the crypto space or about cryptocurrency they always make reference to Bitcoin because it is the first blockchain technology and as such the first cryptocurrency as well. However, I see it like this; give honour to whom honour is due.
Bitcoin made the advent of blockchain possible through which many other blockchains has come to limelight such as Ethereum, Tron, EOS etc. Apart from Ethereum which I can say based on my opinion came with the mindset of developing smart contracts, DApps other blockchains aimed at improving transaction speed, scalability etc.
One might ask, why speed? The answer is simple, speed is very important if blockchain is to be adopted worldwide.
There are also other issues which are needed to be solved in order for blockchain to be adopted worldwide. Talking about blockchain adoption it can be in various platforms or systems like Financial systems, Sports, Healthcare etc and thus in order to make blockchain efficient and suited for use in financial systems led to the creation of Temtum.
But first, what are these issues?
According to research, the first issue limiting current blockchains today is making the blockchain scalable, this is because most are partially decentralized as well as requiring high computational power. Another issue is the low speed which can't be compared with other payment systems like VISA. Bitcoin, for example, has low transaction speed where it takes about 15mins to confirm a transaction.
On the other hand, a study has shown that blockchains using Proof-of-Work consensus algorithm use an enormous amount of energy which isn't environmentally friendly.
Furthermore, with quantum computing gaining traction, it makes most blockchains which use random generation of keys to be prone to cyber attacks
THE TEMTUM SOLUTION
Within Temtum network is a Temporal blockchain (Tem) and Quantum randomness (Tum); with these, Temtum is built to be the most efficient blockchain which can be easily adopted into mainstream payment systems thus being used by all and sundry.
In order to be fully equipped so as to satisfy the needs of users, Temtum was created to be efficient, ultra-fast, environmentally friendly, quantum secure while using as fewer resources as possible in this way offering a cryptocurrency (TEM) which will serve as a better alternative to fiat currency.
In addition, with Temporal blockchain tech, Temtum network will be able to offer a blockchain which will transform the peer-to-peer system where security, speed, less energy etc will be sure of.
Temtum Solutions
Since scalability is the order of the day, Temtum will solve this issue by making it possible for data to be locally archived in nodes thus making it possible for users with low-end devices to participate in the network. In the same way, the Temtum network will be fast with the only factors limiting its speed to be the user's hardware as well as their network bandwidth. This feat is achieved with a special consensus algorithm where the block size is removed thus making transactions to be confirmed quickly.
Like earlier stated, Temtum uses a special consensus algorithm which is more effective than Proof-of-Work thus removing the need for mining, while using less energy which is environmentally friendly.
Furthermore, Temtum network is secured via the use of quantum-secure technology thus preventing the blockchain network from being prone to any form of attacks.
TEMTUM SUCCEEDS
- Temtum network is built to use Temporal technology to make archiving of data possible thus allowing all users to participate in the network.
- Temtum uses a consensus algorithm which is efficient thus eliminating the need for a malicious fork and high energy consumption.
- In order to ensure only one node known as a leader node takes into account all transactions occurring, Temtum uses Routing algorithm. In the same way, Temtum uses NIST Randomness Beacon to ensure the generation of random numbers which are trusted in this way protecting its blockchain network.
CONCLUSION
Temtum aims to clear the path to blockchain adoption by offering an efficient, scalable and secure blockchain which can easily be incorporated into current payment systems. Unlike other blockchains, Temtum uses less energy to operate.
TO KNOW MORE ABOUT TEMTUM
Join the Telegram Group: https://t.me/temtumcommunity
Join the Discord Group: https://discord.gg/hs3v4g4
Follow on Twitter: https://twitter.com/wearetemtum
Follow on Facebook: https://www.facebook.com/wearetemtum
Follow on LinkedIn: https://www.linkedin.com/company/temtum/
Follow on Medium: https://medium.com/temtum
Website: https://temtum.com
Whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
Writer’s Bitcointalk Username: Emmy92
Writer’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1329140