Blockchain looking elsewhere for answers for the industrial nternet

To be able to realize blockchain technology value, we have to go beyond every day simplistic usage as payments and instead implement the tech on an industrial scale. Why? Industrial grade presents the most critical component of our economy, and that is why up to now, despite Bitcoin and some top cryptocurrencies making inroads in the payment space we are yet to feel the impact of blockchain even to a fraction of the current internet, which the technology is hyped to surpass. Rightly so, blockchain can be accused of false advertising because one is hard-pressed to find real use-cases of the technology. Innovation has been going on that has led to developers looking elsewhere for possibilities that fork from the base of blockchain technology. Tolar is the birthchild of innovation beyond blockchain but within the Distributed Ledger Technology(DLTs), retaining and improving the blockchain qualities of decentralization and security while pruning the less desirable cost aspects of computational and energy wastage characteristic of earlier blockchains, through the use of Hashnet. Hashnet is developed from Hashgraph, the leading DLT tech using 'gossip' consensus protocols.

Hashnet

Hashgraph is different from blockchain technology through its consensus mechanism. Hashgraph protocols use ‘gossip’ protocols, in which nodes inform other nodes with no particular order until the whole network is aware f the transactions.
Hashnet uses PoS with masternodes therefore is environmentally friendly due to no mining costs.
In addition to speed, security and transparency, the two qualities of Hashnet that stand out the most are:
✅It is hyper-scalable: the network speed is able to grow with the increase in the nodes, which is kind of a paradoxical idea
✅Device inclusive: Simple devices such as a smartphone can support the running of a full node on the network. This is great for decentralization as anyone can be part of the network.

Masternode

Tolar uses Proof of Stakes with masternodes. The roles played by masternodes on the Hashnet network include:
📌✅Transactions have to be in appropriate data format
📌✅Counter check double spending
📌✅Valid expenditure of outputs
📌✅Validating that all transactions have correct signatures for outputs being spent

Currently, anyone can apply to run a masternode on the Tolar hashnet network and the opportunity is open. The only requirement is to hold as much as 500, 000 TOL, which is equivalent to about 70 eth, as collateral. The reward for running a masternode is 100, 000 TOL will be locked for three months until the ICO is complete. The masternode also earns the rewards from the transaction fees of all the transactions the masternode validated on time correctly. It is important to note that the collateral held by the masternodes serves to deter the masternode owner from signing malicious activity. Repeated malicious activity will lead to masternode eliminated from the network and collateral frozen.

Reputation

Nodes whose output is clean, as measured through pattern analysis and verifiable random checks, are able to build a high reputation. It is allowed to have a few violations once in a while due to unexpected network conditions. Nodes whose reputation falls below an allowable minimum will be cast away from the network.
The reputation also plays a crucial role in the consensus of the network. The network selects 'clean' nodes to contribute to the consensus, reducing the chance of malicious nodes casting doubt on the process.

Storage

Hashnet's design utilizes less spaces through the use of Confidential Transactions and "One-Way Aggregate Signatures". Hashnet uses a fraction of Bitcoin's blockchain storage space as a comparison. This quality is what particularly makes it possible to run a node even on a smartphone.

Application

Tolar will be applied fo industrial purposes to effect a global internet of value. Some of the fields that Tolar will be relevant include:
✅Healthcare
✅Supply chain logistics
✅Entertainment: gaming
✅IoT
✅Government
In addition Tolar can be used as the base platform for the launch of dApps. This will allow these applications to enjoy a richer runtime environment than the current Ethereum Virtual Machine which is the most popular despite its obvious limitations.