Tolar is described as an open source, community governed crypto-currency featuring scalable, fast, secure, and fair transactions. HashNET is defined as a scalable, efficient and high-impact decentralised solution to social innovation challenges leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positive characteristics of a blockchain technology while increasing throughput to more than 200,000 transactions per second. The Network is using Proof-of-Stake with masternodes, which eliminates the need for massive energy consumption.
There are lists of features or characteristics of HashNET that make it distinct. The transparency of fund in Tolar involves the allocation of community funds and voting process which is 100% transparent in this platform. Specifically, the speed network’s throughput can process 200,000 transactions per second in HashNET. It is a mobile compatible platform in which HashNET can be run as full node on smartphone. There is ability to grow easily that is scales with number of users. HashNET is completely decentralized in which every participant can contribute by voting.
The development of tenders and budget plans are available to all Tolar holders. Generally, Magnus Consilium will choose the projects for voting, on the basis of a solution that best meets the following criteria:
The impact of the project on the social status that is the potential impact achieved by the implementation of the solution is one of the criteria.
The decentralisation and governance process that allows voters to vote on future network developments is another point.
The ability to outreach wide range of people by adding value by spreading a word out to the community is a good criterion for selecting a project too.
Another point being consider while selecting for voting is the contribution awarding improvements of Tolar network.
Finally, the extensiveness that allows voters to make decisions on further development paths is also a good reason.
The HashNET consensus mechanics ensures that each member of the network has a copy of the HashNET – that is information structure that keeps record of who propagated which event to whom, and in what sequence. Those events are spread between HashNET members using gossip protocol and the validity of events is decided by voting. However, in order to increase speed and reduce bandwidth needed, every member that has a copy of HashNET can calculate what would be the vote that other member sent to him and if they had been running a traditional Byzantine agreement protocol that involved sending actual votes.
The process of interchain support will be done through contracts running on top of HashNET.
Conclusively, HashNet is infrastructure project that will allow people to build dApps while Tolar is the community that governed the activities in HashNet.
For details information about Tolar, it is important to check their various links and channels indicated below:
Website: https://www.tolar.io/
Whitepaper: https://www.tolar.io/documents/
Join on Telegram: https://t.me/TolarHashNET
Follow on Twitter: https://twitter.com/TolarHashNET
Follow on Facebook: https://www.facebook.com/TolarHashNET/
Follow on YouTube: https://www.youtube.com/channel/UCL8ksEpe6um71pcdPi6wpXQ
Follow on LinkedIn: https://www.linkedin.com/company/tolar-io/
NB: Most of the picture diagrams displayed in this write up are obtained from official site of Tolar.
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