April 24, 2024

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Lightning Network Rival and Bitcoin Scaling Solution ‘Softnotes’ Starts Community Presale!

Lightning Network Rival and Bitcoin Scaling Solution ‘Softnotes’ Starts Community Presale!

Push Release: Softnotes are a revolutionary new Bitcoin scaling remedy network and have the electrical power to at last renovate Bitcoin into the ‘Peer-to-Peer Digital Money System’ that Satoshi envisioned. 

October 12 2022, Illinois, US: Softnotes defeat all the scaling troubles of the Lightning Community that have thwarted its progress in El Salvador. They help feeless, private, quick, and decentralized Bitcoin micro-payments with out the Lightning network’s trade-offs and complexity. Softnotes make it simpler for retailers to accept Bitcoin and are enabled by the world’s swiftest blockchain, a new layer-a person blockchain protocol that procedures around 1 million transactions for every 2nd.

Tectum’s group presale has started offering community customers and retail buyers the chance to be included in an progressive new undertaking that has actively averted in search of Venture Funds funding. The Tectum blockchain has been below advancement by a team from Chicago for quite a few years and is entirely stay right now. Tectum’s flagship merchandise is the Softnote. 

Softnotes allow for Bitcoin to scale to unrestricted transactions for every next (TPS). They are a radically new way of considering about Bitcoin scaling, which consists of transferring possession of Bitcoin wallets in a hyper-economical way somewhat than batching transactions on a layer two chain like the Lightning network.

Information

Bitcoin’s maximally decentralized architecture makes it resistant to financial and technological coercions and assaults. It’s a gold-like store of benefit and bearer instrument. Satoshi also intended Bitcoin to be a medium of trade. The medium of exchange perform has historically been its finest weakness, with the safety and decentralization areas of Vitalik Buterin’s ‘blockchain trilemma’ prioritized above scalability.

Forks of Bitcoin with a heavier emphasis on scalability, this sort of as Bitcoin Cash, have experienced minor success because of in aspect to their weaker community results and safety, which means that the Bitcoin local community turned to the layer two remedies, the ‘Lightning Network’ to velocity up Bitcoin’s 7 TPS woes. The Lightning Network, though ingenious in its design and style, has proved overly complex in its execution and has not obtained traction, especially with retailers and people missing technological abilities.

A ideal Bitcoin scaling option would be income-like and have the adhering to qualities: 

This Bitcoin scaling alternative by now exists as of Oct 2022, it is completely live! The resolution is called the Softnote and is a revolutionary re-imagining of how scaling can operate. In its place of batching transactions like normal layer twos, the Softnote enables ownership of a Bitcoin wallet, pre-filled with a outlined volume of liquidity, to be transferred at lightning velocity applying the Tectum blockchain.

The moment handover of the Softnote QR impression with a 6-digit pin are manufactured through electronic mail, cell, or even printed on paper, the new owner secures their ownership cryptographically by getting into the pin into the Softnote system, and a new random pin will be created acknowledged only to them. Given that this handover has taken location off-chain, it is nearly frictionless, untraceable, and nameless.

At this level, the new owner has immutable ownership and management of fully liquid and secure Bitcoin tied to their Softnote that can be employed in further more Softnote transactions. Nevertheless, suppose they determine to shift the underlying Bitcoin liquidity out of the Softnote. In that circumstance, the Softnote can be burned, and the private keys involved with that Bitcoin wallet will be returned to the Softnote owner. 

The Softnote system is run by the new 3rd-era Tectum blockchain, which has a specialised three-tiered DAG-like architecture that lets for phenomenal TPS and around-instantaneous transaction finality.

Tectum’s consensus system is identified as ‘Proof of Utility.’ It allows Tectum to function at over 1 million TPS, earning the chain perfect for programs in a distributed IOT context and web hosting the Softnote platform. In addition to insane velocity, Tectum’s other killer application is its capabilities as an ‘overlay network’ to the Bitcoin most important chain and has its in-constructed Bitcoin node. This implies that providing liquidity to Softnotes is as frictionless as attainable and optimized for maximal BTC transaction fee efficiency.

TET Presale

Tectum’s native token ‘TET’ is challenging capped at 10 million, and TET’s foremost utility is that it is demanded to mint new Softnotes. The presale rate for each token is $3.00, which means that with a 10 million difficult-capped offer, the marketplace cap stands at $30 million, which most buyers acquainted with the crypto market will agree has huge upside probable in the context of comparable layer 1 assignments. In the earlier seven times, the firm has enabled its beta exam software for minting softnotes on the ‘telegram’ system. Considering that then, above 480,000 Softnotes have been minted by the neighborhood. You can participate in the presale of TET by going to tectum.io.

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About Tectum & Crispmind

The entity behind Tectum and the Softnote system is Crispmind, a Chicago-based application improvement agency with a group highly centered on both of those quality and neighborhood engagement. Be a part of our weekly are living AMA (talk to me anything at all) sessions to converse to us directly, or pay a visit to Tectum.io to master additional about the inescapable Bitcoin scaling alternative.

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