Just in case you missed it, here’s a link to Tectum blockchain’s speed test live stream. 3.5 Million transactions per second! While you certainly have your personal attraction for blockchain networks, but you’d hardly make a complete list without including speed, low cost, and security. Tectum ticks at least two boxes in your list of what attracts you to your favorite blockchain network.
Blockchain networks are moving from heavy, complex consensus systems to sleek layers built for some of the most efficient applications to thrive. Most ‘fast’ blockchain networks sacrifice decentralization and security to achieve an improved speed while the highly decentralized ones are significantly slow.
Tectum is changing the narrative. In what could be a milestone for blockchain networks, the Tectum network is making waves in the Testnet phase and gearing up for public launch. I could go on about how impressive the results shown in the video are, but even more impressive is how Tectum blockchain is able to achieve these results.
Here’s how Tectum works
In the speed test program, the Tectum team streamed over 50 million transactions through the network via testnet TET token and SoftNote transactions. 8 nodes completed the validation of these transactions in less than 15 minutes. Each node processed at least 500,000 transactions.
Tectum uses the novel Proof of Utility (POU) consensus mechanism to validate transactions generated on the network and stores only hashes of these transactions instead of the whole data. This way, it is able to achieve incredible TPS and a lightweight network respectively, allowing easy sync and overall improved user experience.
Proof of Utility is an improvement of the relatively more popular POW (Proof of Work) consensus. It prioritizes verified contributions in a distributed network of nodes. Nodes on the network are rewarded according to their contribution to the network. Here, the goal is not to solve a complex mathematical solution to generate a proof but to make the most contributions to the network.
Contributions to the network include bandwidth, storage, and computing. Each contribution increases a node's PoU scores and the decision-making weight. This is analogous to computing power and staked value on the network on POW and POS consensus mechanisms. Proof of Utility tasks nodes with roles and contributions, keeping everyone active and the network running. The network’s performance and security improve with each node that joins the network.
Records of these transactions are stored in hashes that reference the complete transaction data. This keeps the network at a minimal weight and scalable.
Gearing up for public launch, Tectum is growing an ecosystem of utilities. The Tectum blockchain and the $TET token will nurture a new sphere built for applications to thrive while the Tectum team also diversifies into other applications.
Utilities being developed for the Tectum project include;
Tectum Network Explorer: The Tectum Explorer is an analytics tool for Tectum network users. Users can access complete network, transaction, and account data by simply querying the explorer.
Tectum SoftNote Wallet: Tectum Wallet is a self-custody application that allows users to manage TET tokens and other crypto assets. Tectum Wallet offers cheaper transaction fees and instant competition by leveraging the power of the lightning-fast Tectum blockchain.
Tectum Interactive Assistant (TIA): TIA is an AI-powered information bank for the Tectum project. You can obtain accurate information about any of Tectum’s products by querying the TIA Telegram bot. Try it now
SoftNote and SoftNote Bills: Tectum SoftNote offers a faster and more private way to spend Bitcoin. SoftNtnote leverages the Tectum Bitcoin node and overlay network to facilitate on-chain transfers with low fees and fast transaction times.
X-factor Authenticator: Tectum’s X-factor authenticator is a flexible, scalable, and completely secure quantum-proof three-factor authentication protocol developed by Tectum for user account authentication.
With a projected 3.5 million TPS and low block weight, here’s how Tectum compares with other blockchain networks
Tectum is advancing blockchain throughput. Get involved in the next evolution of blockchain networks. The Tectum testnet is up and running. Blockchain Enthusiasts are invited to contribute to the testing phase.
Join the Testnet program for the Tectum blockchain.
You can also participate in the ambassador program and spread the word about Tectum’s superfast network and the Tectum SoftNote.
Sign up for the Tectum Ambassador program.
If the blockchain is ever going to meet the growing demands for the applications that are built on it and the blockchain itself, then it must be able to scale its throughput to an infinite level. With 3.5 Million TPS, Tectum is a few steps away from winning the speed challenge for L1 and L2 blockchain networks.
This, in addition to a privacy layer and a strategy that trims the blockchain to its barest weight, could set it apart from competitors. Most importantly, this network could complement other networks to deliver a hub of blockchains interoperating to leverage this super-fast layer. As Tectum prepares for public launch, it will be interesting to see what will be built on its ecosystem which is already growing.