The problems with current blockchain technology
Blockchain is still an emerging technology. It has already started to transform a wide range of
industries around the world by providing a digitized, immutable and secure network for transacting,
sharing and distributing data without a central authority. This provides a number of significant
theoretical benefits when compared with existing technologies and methods, such as improved
transparency, traceability and security, as well as increased efficiency and speed of transactions.
Most importantly, financial transactions are no longer reliant on trust – they are cryptographically
proven.
And yet blockchain networks that have already been deployed have suffered from a number of
downsides and concerns that have meant that they have failed to deliver on their promise and are
yet to see significant adoption. Chief among these downsides are:
How temtum solves these problems
The fact that current blockchain networks have limitations at their core, means that they cannot
satisfy the key transaction demands for many of the industries and applications which should have
the highest need for blockchain networks, such as large global payment networks and credit card
companies. This is how temtum addresses each of these flaws in current blockchain networks:
Scalability
The Temporal Blockchain eliminates the need to store the entire chain history on all
nodes by locally archiving data, while preventing competition in node selection. This significantly
reduces resource requirements and allows anyone with a basic form of technology – such as a
smartphone user – to fully participate in the network, delivering true decentralisation and infinite
scalability.
Speed
The speed of the temtum network is limited only by the hardware and bandwidth of
network participants. We have created a highly efficient Consensus Algorithm and removed block
size limitations in order to confirm transactions into a block extremely quickly, with a maximum
confirmation time of 12 seconds. Once included in a block, a transaction is confirmed – there is no
need to wait for additional blocks to be added subsequent to the initial block, as is the case with
Bitcoin, due to the impossibility of a malicious fork.
Resources
temtum’s Consensus Algorithm, constructed around leader nodes and our innovative
Node Participation Document, removes the need for mining and wasteful, inefficient and restrictive
Consensus mechanisms such as proof-of-work. temtum uses substantially less energy and has
less environmental impact compared to POW networks. We estimate that the Bitcoin network
is 16,573,693 times more expensive than the temtum network based on energy costs alone,
assuming both networks are operating at the same size. The Bitcoin network is currently limited to
a maximum transaction throughput of seven transactions per second. The average fee for a Bitcoin
transaction from 2017-2018 was $57.35 – and the total cost of a Bitcoin transaction in the same
time period, including miner and energy fees, was $104.701.
Security
Temporal is a quantum-secure blockchain network that uses a photon source for genuine
random number generation alongside next-generation hashing algorithms. These prevent the
network from being vulnerable to theoretical attacks – even in the case that quantum attacks
become commonplace in the near future.
What is Temtum?
temtum is a new, lightweight, peer-to-peer cryptocurrency where anyone can support the Temporal Blockchain network, creating a new world of financial freedom away from centralised institutions.
Speed. Scalability. Low Resource. Security.
Their aim is to allow every user to be able to fully participate in the network, no matter the device, from a mobile phone to an IoT device or even a smart car. The only requirement is the device must have an active internet connection.
Ultra lightweight, super fast, quantum secure decentralised network, redefining the boundaries of blockchain and cryptocurrencies to empower financial freedom - temtum (TEM)
BlockchainResearch
We've spent the past 5 years researching Blockchain and boast the only Blockchain PhD as part of our founding team. This research led to the development of the superior Temporal Blockchain, compared below to what is currently considered the leading technology in the industry.
Road map
Conclusion
Temtum is a great project, greatly influencing the crypto community because of its advantages, fast and safe speed.
This is the Very powerfully project, Because it had a target base future vision. Defiantly I swear this project will be success. Good luck
Website: https://temtum.com/
Whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
Telegram: https://t.me/temtumcommunity
Author: loan.ruiu1
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2602389