We will be able to answer why it's a gem by the end of this article
Problem:
One of the biggest problems in blockchain is management of private keys. Every network has its own set of accounts, wallets and consequestly comes a hell lot of private keys to manage. People are not able to manage regular passwords let alone management of so many keys(really important keys).
Central institutions generally tend to suffer cyber attacks and loose sensitive password data. This can't be the case with private key data which gives one access to all his/her funds in cryptocurrencies.
Hundreds of millions of USD are stolen through scams or lost because of wrong addresses. People are scared to interact with different networks due to huge risks involved and lack of proper experience because blockchain is still emerging. The issue of keys still acts as a huge barrier to millions of people trying to adopt blockchain and cryptocurrencies.
People have lost millions of dollars for not being able to find their key. An there are very limited ways of recovering private keys as of today.
Solution: Tenzorum is the unstoppable machine for self-sovereign key management and access to the decentralized world.
Tenzorum is creating a WoT (Web of Trust). Yes your private keys would be broken into several parts and spread across the network but still linked to you. You can recover / use / access it whenever you feel like.
Tenzorum is an open source project lead by a team of 10 people, developed by blockchain enthusiasts, investors, developers. The community backing/ supporting Tenzorum is a really strong and active one.
Tenzorum is working on a set of protocols that would help an everyday user interact with crosschain networks seamlessly where they can rest assured that their keys are extremely safe. This would lead to a better adoption of blockchain and cryptocurrencies.
Tenzorum is working on three concepts :
1.Access Control
Seamless access to Blockchain products and services through an unstoppable decentralized platform.
2.Recovery Mechanism
Web-Of-Trust powered framework that avoids catastrophic events.
3.General Modules
Infrastructure to connect Tenzorum modules to multi-ledger applications, exchanges and services.
All the overlaying networks would interact through the decentralised Tenzorum Infrastrusture
Vitalik also believes key management is a huge problem
WEB OF TRUST, Tenzorum Service Node Network :
TSNN provides users access to keys and helps them access different chains, dapps and other decentralised services through a single interface.
It runs and executes the essential business logic associated with key management protocols. It is going to be fuel by the TENZ tokens and the network of users.
TSNN performs the following :
1.Execute Key Verification and Encryption Tasks
2.
Facilitate Blockchain Integrations : One stop for all dapps and chains
3.Issue Network Incentives : Incentives and Rewards for an equitable planetary economy.
One of the most Remarkable feature is : P2P Decentralised Key Management
Tenzorum will enable people an easy and simple way to interface with their keys to access decentralized networks and services.
The most important thing that the team cares about is a seamless UX. The need is to create a product which can manage 100x users and their keys seamlessly providing them a great experience(Handling keys would never be this convenient).
Being an Open source project, Tenzorum has some great community engagement. They are tied to some of the best organisations of the world and are also working with some of the best high performance labs.
Team : ALL STAR? YES!!
The team is really good at what they do. Headed by two co-founders Moritz Nato, Stanford ASES and Daniel Bar, Blockchain dev and Chairman Bitfwd; this team of 10 is really achieving things fast with a working prototype in hand. They are set to launch their Testnet pretty soon
Advisors : Likes of NEM, Y Combinator, Akropolis, Nebulas, Olympus Labs.
The crazy list of advisors from top projects is sure to add a lot of value to the entire project.
Announcements Coming Soon : Their are some big investment, collaboration, program and advisor announcements coming your way from the project. Get ready for all the hype and save your ETH to invest in this hell of a security token.
Torque featured Tenzorum here
Tenzorum is a GEM, in a nutshell:
- Great project with actual need in market
- Working Prototype
- All Star Team
- Integration with multiple dapps, chains, dexs (Work as a platform)
- Masternodes for staking and passive income
- Great team of advisors
- Increase in backing and partnerships from China
- Community built, community engaged and coming up with programs for the community.
Website: https://tenzorum.org
Telegram : https://t.me/tenzorum
Twitter : https://twitter.com/tenzorum
Information Courtesy : I got the information about this project from CryptoHype News App and hence I could do a detailed analysis.