That was a quote from Uncle Ben to Peter Parker a.k.a. SpiderMan. Why did i quote this line? Because it is fit to picture this big project : Tolar HashNET! Great project comes from responsible and dedicated team. And this team make it happen.
Before i go any further, lets talk about HashNet. What is it? HashNet was defined by the team as ' scalable, fast, secure, fair decentralized beyond blockchain project, leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positives characteristic of a blockchain technology while increasing throughput to more than 200,000 transaction per second'. Network is using Proof of Stakes with masternodes which use very low energy consumption.
You might be wondering why need such a massive number of transaction per second? Well the world today have being introduced to cryptocurrency. It is not like 10 years ago when the transaction was only 2/s using bitcoin. The world today need mass adoption in this rally world. And Tolar delivered it very well. Here is a few comparison table with other blockchain.
What is Masternodes and Why?
Based on CryptoDigest news, Masternodes can be simply put as Crypto full node (wallet) that support the network by hosting an entire copy of a coin ledger in real time. In return, rewards will be given to the masternodes in term of crypto coin. To be clear, masternode is use in Proof of Stakes while physical computer rigs using GPU were called Proof of Work to 'mining' and do the transaction. By having masternodes, fast transaction can be done with low power consumption. It also can increase the privacy of the transaction. I guess it is safe to say masternodes is a better alternative than rigs.
What makes Tolar HashNet project different?
1.Scalability. It enable larger transaction up to 200,000 per second which is great compared to competitor. Scalability have been such a headache on the blockchain system. With Tolar, worry no more.
2.Fast. No need miner to create transaction through blockchain as the miner use large amount of electricity and low speed. It use Proof of Stakes algorithm and masternodes to reach distributed consensus which make fast transaction.
3.Fair. Nobody can manipulate the transaction of the consensus. Not like PoW.
100% secure. As it use distributed algorithm power which cannot be hacked. Combining Proof of Stakes and masternodes create transparency as the participant compensated correct voting.
4.Mobile. The HashNet can be run as full nodes even on mobile phones.
5.Ability to grow. Easily scale with number of user.
6.Completely decentralized. Every participant can contribute by voting.
Is it really fast in real life or just in the paper? Well this demo video will remove your doubt about it. It was done June 28, 2018 in Zagreb (Croatia) with 11 masternodes sets up around the globe ( Europe, Southeast Asia, Australia, and West United States). Having said that the demo able to show around 130,000 transaction per second. It was claimed that before live demo, it reached up to around 150,000 transaction per second. The aim is till up to 200,000 transaction per second and i believe it can be delivered.
Here are some difference between Proof of Work and Proof of Stakes. It is better to summarized here as you will see lots of this term in crypto world.
Proof of Work require it participant to perform some difficult work in validate transaction and produce new block. As in this case is difficult mathematics solving. The miner whom solved it first will get the rewards. However, this required expensive computer calculation and consume high electricity.
Proof of Stake states that person can mined and validate block base on amount of coin hold. There is no block rewards, instead miner takes the transaction fees. Using masternodes is an example of PoS. Faster transaction and cost effective.
"Did you know Proof of Work by Bitcoin and Ethereum alone use more electricity than 159 countries! That is why Proof of Stake are cost effective".
What is implemented by Tolar?
Besides the adaptation characteristic as mentioned earlier, it will also use Governance system 'Magnus Consilium' which means the stakeholder and investor have the right to vote on proposal and throw their idea on the table to improvise HashNet network. It will be part of community in 2 ways which is Tender ( budgeting plan, every proposal will need majority vote to pass) and Proof of Stake ( user received interest based on number of coin they staked and duration of time coin stored if they decided to lock their coin). Tender will be selected if the solution meets the criteria like ;
Social impact by implementing the idea.
Decentralization and governance that allow voter to vote future network.
Outreaching the community by spreading the words.
Contribution by awarding improvement of Tolar Network.
Extensiveness by allowing voters to make decisions on further development paths.
For those whom interested owning the masternodes in Tolar HashNet can go to their websites https://www.tolar.io/masternode/ . Cost for owning it is 72.5274 eth equivalent to 600,000 TOL. There is a reward for the owner such as transaction fees of the masternodes that helped validated correctly and on time. Tolar will give incentive as well from reserved monetary funds. The masternodes comprises of 3 item which is the masternodes owner, the masternodes server and collateral held in Tolar. For more information regarding this you guys can read their whitepaper here https://www.tolar.io/wp-content/uploads/2018/08/Whitepaper-Tolar.pdf
Application of the system.
There are much more benefit by implementing Tolar HashNet such as in;
High speed platform
Healthcare
Supply chain logistic
Procurement in enterprise environment
Government.
Real use case.
I would give an example on Healthcare. Did you guys remember recently the largest medical care provider in Singapore , SingHealth data was hacked and the data of 1.5 million patients was stolen including the most powerful individual Prime Minister. It was considered largest data breached in Singapore. This make us realized that the need of storage in blockchain is serious. You can read the news here https://www.straitstimes.com/singapore/singapores-privacy-watchdog-to-investigate-singhealth-data-breach .
By using Tolar platform, the data is safe and cannot be access without authorized. Patient records, private data and even medicine data can be secured by using Tolar platform. There are much more use case application. Can you think any? I'm sure you can and that means you understand and realized the importance and need of having this system.
Marketing by the team.
To make your brand known, you must globalize your marketing. And that's what the team being doing now aside from improvise the system. Starting to introduce Tolar officially in March 3, 2018 at Blockchain Adria Meetup in Zagreb, it was a big and memorable day for the team to introduce the Tolar project to the world.
Meetup in Zagreb
They were actively travel around the globe to make the world know their product. Below is the schedule ;
July 21 - Kuala Lumpur and Seoul
July 26–27 - Singapore
July 28–29 - Bangkok
July 29 - Hanoi
July 29–30 - Bahrain
August 1 - Ho Chi Minh
August 3 - Seoul
August 5 - Tokyo
August 13 - Mauritius
August 15–16 - Toronto
August 26 - Taipei
August 28 - Singapore
You can see the World Tour timeline by Tolar here https://medium.com/tolar-hashnet/tolar-world-tour-diary-f9ab189310c0
During the World Tour, team have won in ;
Speaker's award in Bahrain
Future in Blockchain award in Tokyo
Best Blockchain Platform during Mauritius Meetup (see below)
Besides that, the team also won ICO Pitch Competition at Ian Balina's Crypto World Tour in Budapest Hungary in June.
Here was Ian Balina's comment ;
Tolar is my third best ICO. What I do like - it has a decent team, they do have prototype, they have all-star advisors which is good. It's a big idea - the fact that they are building an infrastructural project. They are competing with other blockchains. Their community is decent as well. To me, this is a border line all-star project.
How great is that? Based on the whole project portfolio, they sure deserved it! Congratulation Tolar Team!
Here you can see roadmap of the project.
Tolar Roadmap
Token Sale
Tolar is undergoing presale now till end of August. The ICO will be on September 15, 2018 GMT 14:00 till September 20, 2018 GMT 14:00 or before if hardcap (45,000 ETH)is reached.
Token Economics
Token : Tolar (TOL)
1ETH : 6893.94 TOL (ICO). *Can check their whitepaper for more details.
Soft Cap : 20,000 ETH (reached)
Hard Cap : 45,000 ETH
Total supply : 1,000,000,000 Tolar
Token Allocation
Backbone of the project
The team has made this technology become reality. It can only be done by having team spirit and believe in each other. Each of the team are as much as important to make this platform happened.
There was 8 foundation board, 8 HashNET Tech, 8 HashNET Bizz and 13 advisor board that makes a great team! Great project comes from great team.
Partnership and Investor
Not enough to gain your trust that this is awesome project? Here are some rating that will remove your doubt!
-Excellent global team with good experienced and track record.
-Powered by COTRUGLI Business School. It was the leading business school in SE Europe with more than 2,000 MBA Alumni and 20,000 satisfied client.
-Below are the review from experts.
Expert review
Thank you for finishing the reading. Hope you guys got the information you need. Let us give full support to Tolar team.
For more detailed information, you can click below;
Websites: https://www.tolar.io/
Whitepaper: https://www.tolar.io/wp-content/uploads/2018/08/Whitepaper-Tolar.pdf
Official Telegram: https://t.me/TolarHashNET
Official Announcement Channel: https://t.me/tolario
Official Twitter: https://twitter.com/TolarHashNET
Presale participation: https://tolar.io/presale/ __________________________________________________________________
Bounty0x username : amir8692