Temtum – Cryptocurrency crosses into the mainstream
Today blockchain and cryptocurrency technology help to get rid of many intermediaries in the form of banking and other electronic payment systems. Someone a few years ago became an active miner and made a large fortune, and now it is difficult for an ordinary person to compete with large farmers and buy expensive equipment for bitcoin mining.
Therefore, a more profitable option for generating income from the digital market is their purchase, trading on exchanges. But at the same time revealed some disadvantages of this technology in the form of the need for scalability of the network, increasing the speed of transactions, reducing fees under heavy loads.
To confirm transaction in the Bitcoin network spends an enormous amount of energy, the farm trying to locate in areas remote from places of human habitation plants or areas, as they produce a loud noise, downloading the blockchain takes a very large amount of memory, in the days of congestion the commission can sometimes be as much as 10-15 dollars.
It is logical that such problems slightly repel people from the use of cryptocurrencies in everyday life and this hinders the development of this innovative technology on a global scale, and in fact it is very useful for the transition to a completely new level of life of people, the economy, makes it possible to store funds on their personal wallets without intermediaries.
It presents the first-rate opportunities that must this point barely been touched on.
For cryptocurrencies to thrive, blockchain now needs to take the subsequent step in its evolution.
And that’s wherein temtum is available in. Temtum can help at ease an absolutely allotted, decentralized and democratic destiny for monetary transactions.
It is a future that doesn’t smash the surroundings. A future for clearly everybody, anywhere they live in the global, in which the benefits of cryptocurrencies are available and handy for all.
We have not handiest seen this splendid destiny, we’ve got designed the era, built it, tested it and mapped out how it’ll be applied because of the handiest trade.
Temtum’s ambition is to be tons more than a cryptocurrency that virtually advantages speculators and that is simplest meaningfully utilized by tech-centered blockchain corporations – it has an underlying motive enabled with the aid of the maximum trendy and robust blockchain generation available in the marketplace: Temporal Blockchain advanced and certified with the aid of way of Dragon Infosec.
Temtum builds on the substantial opportunities of blockchain technology and overcomes a number of the existing limitations confronted via cutting-edge peer-to-peer networks, which means that they have got only been adopted in a limited way.
Our integration version is a pioneer inside the cryptocurrency worldwide, considering that, in assessment to extraordinary cryptocurrencies, temtum is being particularly designed to coexist transparently with different fiat overseas cash, if you want to acquire the best possible fee of adoption.
The problems with current blockchain technology
Blockchain is still an emerging technology. It has already started to transform a wide range of industries around the world by providing a digitized, immutable and secure network for transacting, sharing and distributing data without a central authority. This provides a number of significant theoretical benefits when compared with existing technologies and methods, such as improved transparency, traceability and security, as well as increased efficiency and speed of transactions. Most importantly, financial transactions are no longer reliant on trust – they are cryptographically proven.
And yet blockchain networks that have already been deployed have suffered from a number of downsides and concerns that have meant that they have failed to deliver on their promise and are yet to see significant adoption. Chief among these downsides are :
The speed of the Temporal network is unrivalled by any existing blockchain technology, with 120k TPS achieved in our lab environment and theoretically unlimited, directly influenced by the scale of the network.
The ultra-lightweight architecture, efficiency and consensus of transactions on Temporal leads to incredible verification speed.
Temporal allows for short term data storage on nodes, while keeping the integrity of the blockchain and its full history. With our consensus algorithm, transactions are no longer required to be sent to every node, instead sent directly to the leader node. Therefore, no wasted resources spent in the needless duplication of messages.
This reduction in storage and processing power makes participation in the network from low-resourced devices possible, whilst using less energy than existing blockchain technology.
Uniquely constructed around the NIST beacon, Temporal broadcasts full-entropy bit-strings in blocks of 512 bits every 60 seconds. This stable method for generating randomness, unpredictability, autonomy, and consistency creates a key theoretically impossible to precompute. Temporal’s quantum mechanics and the use of light over processors, creates a level of randomness never before experienced in computing.
Temporal network topology and security implementation has been tested by Crest accredited firm BSI multiple times and found to be highly secure and robust and validates our claims.
Our consensus algorithm removes the requirement for mining, eliminating the need for highly wasteful and restrictive consensus mechanisms such as Proof of Work.
Proof of work currently requires trillions upon trillions of pointless energy intensive computational calculations in order to confirm transactions.
With our unique consensus algorithm we reduce this to a single calculation which each node can independently calculate and arrive at the same result.
To demonstrate the technical capabilities of the temtum network – and how few resources a node is required to have in order to participate in the blockchain – we deployed custom code on the head unit (HU) of a BMW i8 as part of a mobility focused project. This allowed the car to function as a fully working node, capable of confirming transactions as the car was driven. The loading of the code into the car did not have any impact on its functionality and was able to run in the background.
Even though the computing power in the i8 is significantly less than traditional computers, it consistently demonstrated the ability to confirm 500 TPS. We believe this is a world-first where a car has been able to act as a full node without the requirement of additional hardware.
Two test cars, a BMW 220i, and the showcase BMW i8 have been used during testing. As in the previous development cycle, we did not add any additional hardware and only the software on the iDrive systems were modified. We discovered that the BMW 220i, while a significantly less advanced in terms of digital systems than the i8, was still able to fully participate and achieve the same level of performance as a full node (able to store the Temporal Blockchain and confirm transactions when required) as the flagship i8.
After demonstrating that an entry-level BMW is fully capable of participating in the temtum network as a node, we also achieved a mesh network between cars. This allowed the BMW 220i to have its own mobile network connection disabled, leaving it without internet access and instead receive data directly from the i8.
Receiving data from the i8 to the 220i directly, where Temporal and all transactions are also using cryptography, would not present an attack vector. The ability to communicate with vehicles that do not have an active internet connection increases the opportunity for older cars to participate in the network, while removing any mobile data charges and reducing costs for network participation.
Sideloading our application into the existing entertainment system of the older model BMW showed no performance degradation to the driver. Testing is under way to apply this theory to more car brands, including a 2018 Renault Megane, which will allow for direct cross-platform (i.e. from brand A to brand B) communication.
More than half-a-million BMW vehicles were registered in the UK from January 2014 to January 2017, with each vehicle more than capable of participating in and supporting the temtum network. With network scale increasing attack costs, participation via existing mobility infrastructure could ultimately secure temtum beyond levels seen with existing networks, without the need for expensive energy consumption.
Although the environmental impact of fuel-powered vehicles is of some concern, making use of technology that’s already in use and reducing the burden of such networks as Bitcoin on international energy resources is a positive move before more sustainable vehicles begin participating in the temtum network.
Over the past 5 years, the Temporal Blockchain has been researched and developed to the point we now have a working product that’s an evolution of the entire Blockchain technology. Our road map goes back in time, whilst outlining the future for temtum.
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