During medieval years, to get to point B, people just walk or run. Then, they discovered horse as suitable mode of transportation. 1885, Karl Benz invented combustion engine in Germany thus created car, buses that minimize time travelling. By observing the picture above, it clearly stated that travelling to Singapore from Kuala Lumpur takes 4 days if walking, 4 hours by bus and 99 minutes by High Speed Rail. Faster infrastructure means people can minimize their time to complete another important task.
This scenario is experienced by blockchain itself. On 2008, Satoshi Nakamoto created bitcoin. Bitcoin’s network requires an average of 10 minutes to create a block, and it's estimated that it can only manage seven transactions per second (TPS). Bitcoin has always been inefficient due to the proof-of-work (POW) system. Blocks can’t be created simultaneously. The linked storage structure allows for only one chain on the whole network. All the transactions occurring around the same time are kept in the same block. Miners then compete for the block validation. One single block is created about every 10 minutes.
Ethereum does better (20 TPS), IBM blockchain (1,000 TPS), Ripple (1,500 TPS), Zilliqa(8,000 TPS) and NEO (10,000 TPS)
Early 2018 shows blockchain to increase TPS such as Quarkchain (1M TPS), Sparkster (10M TPS) and Harmony protocol (10M TPS). This trends tells us subconsciously that we need faster blockchain in order to adopt massive user. According metcalfe's law; the effect of a telecommunications network is proportional to the square of the number of connected users of the system (n2). We need faster blockchain In order to sustain massive users.
TOLAR.IO will have 200,000 TPS. Currently has achieved 150,000 TPS
So, what is the ingredients inside Tolar.io?
Redundancy Reduced Gossip (RRG) to reduce computational and communication resources thus the network has low traffic network congestion.
Tolar has a governance system called MAGNUS CONSILIUM in which stakeholders and investors will have the power of voting on proposals in order to participate in improvements of HashNET network.
Let's talk about SUPER DUPER MAGNUS CONSILIUM.
From my point of view, Tolar.io want its community to take part to build tolar.io ecosystem. Thus, any Tolar token holders can propose project that benefit tolar in the partnership. Magnus Consilium is a feature that manage voting from investors and will select projects based on highest voting. Investors may vote projects based on these criteria:
Lets help Tolar.io to be the SUPER GOLD!!!
3)Proof of stake: You will get dividend/interest if user choose to lock tolar coin. But i am not sure the duration of the token lock
mobile wallet will be available in Q4.
The Founder Josip Maricevic has experience 2 years in Researching blockchain and related consensus algorithms, atomic cross-chain swaps and of- chain settlement protocols. But where did he work for??
According to whitepaper, once desired throuput is achieved, EVM will deploy on top of tolar.io network. Thus, we can expect Dapps build on Tolar in the future.