A name surfaced in the digital sphere in the early moons of 2008 and by 2009, its input was acknowledged. Satoshi Nakamoto was reputed for using the individual words “block” and “chain” in a whitepaper reflecting the aims of his project.
A year down the line, a new formation was created to that effect. Life was given to cryptographic currencies – currencies that can make do without banks. In the early months of 2009, the earliest being Bitcoin was test-run. It thereafter garnered widespread popularity.
It is worthy to note the personality of Satoshi Nakamoto. The name was mere alias used by the inventor. It would literally be regarded as irony that this clouded front might be part of the reasons why the block chain technology was faced with downsides within years of its formation.
Scalability is ironically at its best. To this end, multiple projects had sprung up with intentions of solving this issue. A decade down the line, there seems no glimmer of hope for the technology. Despite attempts by multiple chains such as Ethereum and EOS, scalability remains a bedbug in the chain technology. Perhaps, Tolar might make the much needed difference.
Global Player
The technology backing the block chain is gathering immense acceptability in some areas. However, the scope is limited because of its inability to meet real-world cases. But for their low transaction throughput, cryptographic currencies could have long ago taken over the scene.
Tolar’s goal is to be the basis for all platforms powered by DLT. On the other hand, the project brings to the table, amazing features that might usurp existing ones and in extension, improve block chain activities.
HashNET – Tolar’s Gateway
Inability of the technology to scale through transactions was because of multiple transactions hosted on few blocks. On the other hand, consensus mechanisms and smart contracts cannot dictate transactions as they ought to.
Tolar brought a new approach known as HashNET. HashNET is reputable for its faster transaction throughput and open-source technology. Bitcoin just as every other decentralized project uses cryptographic currencies. These currencies are mined with electricity. Mining is however limited because of insufficient electricity to back the process.
Tolar disrupted these by breeding a new consensus mechanism for its mining. The Proof-of-Stake consensus mechanism powered by masternodes will remarkably reduce amount of energy consumed during mining. In related development, HashNET promises to offer about 200, 000 transaction rates every second. This is not a mere wish as transactions from its testnet period clocked 150, 000 transaction speeds every second.
Security and Governance
Aside conventional financial institutions that are security-conscious, the block chain is also under heavy attack from multiple quarters. There is the Sybil attack that crops up during mining. There are technological advancements that might lead to creation of quantum computers. These computers are highly scalable in terms of hacks.
To this end, Tolar created similar projects to bring these attacks to the barest minimum. At the core is the distributed consensus. Previous projects utilized one consensus. Tolar however combined its PoS consensus with HashNET. To this end, attacks will be reduced as the two will fight off such.
On its governance, Tolar is open-sourced. Backed by the Magnus Consilium governance structure, investors and relevant stakeholders can take part in decision-making such as proposal-voting.
Token Sales Information
Token Name: Tolar
Symbol: TOL
Standard: ERC20
Total Supply: 1 billion
Exchange Rate: 1 TOL= $0.0436
Hard Cap: 45, 000 ETH
Soft Cap: 20, 000 ETH
Accepted Currencies: Fiat, ETH, BTC
Partnerships And Investors
All-Inclusive Project
So far, it is evident that the team behind this project was abreast of downsides in the block chain. With these impressive inputs, it wouldn’t be a bad idea acknowledging the all-inclusive nature of the project. The decision was reached after taking into cognizance the pain points to be met. It is a matter of time to ascertain the potentiality of Tolar’s kite flying.
To Learn More about this revolutionary project, check out the links below:
Website: https://www.tolar.io/
Whitepaper: https://tolar.io/wp-content/uploads/2018/06/HashNET_whitepaper_v03.pdf
Linkedin: https://www.linkedin.com/company/tolar-io/
Twitter: https://twitter.com/TolarHashNET
Telegram: https://t.me/TolarHashNET
Writer's Bounty0x Username: Collinberg