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

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Softnotes overcomes all the Lightning Network scaling issues that have thwarted its progress in El Salvador. They enable free, private, instant, decentralized Bitcoin micropayments without the trade-offs and complexity of the Lightning network. Soft notes make it easy for merchants to accept Bitcoin and are powered by the world’s fastest blockchain, a new layer-one blockchain protocol that processes more than 1 million transactions per second.

The Tectum Community Presale began to provide community members and retail investors with the opportunity to participate in an innovative new project that has actively avoided seeking venture capital financing. The Tectum blockchain has been under development by a Chicago team for several years and is fully active at the moment. Tectum’s flagship product is the Softnote.

Soft notes allow Bitcoin to scale to unlimited transactions per second (TPS). They are a radically new way of thinking about Bitcoin scaling, which involves transferring ownership of Bitcoin wallets in a hyper-efficient way instead of bundling transactions into a layer-two chain like the Lightning network.

Details

The maximally decentralized architecture of Bitcoin makes it resistant to economic and technological duress and attacks. It is a store of value similar to gold and a bearer instrument. Satoshi also intended Bitcoin to be a medium of exchange. Historically, the medium of exchange function has been its greatest weakness, with the security and decentralization aspects of Vitalik Buterin’s ‘blockchain trilemma’ prioritized over scalability.

Bitcoin forks with a greater emphasis on scalability, such as Bitcoin Cash, have had little success due in part to their weaker security and network effects, meaning that the Bitcoin community turned to layer two solutions, the ‘Lightning Network’ to Accelerate Bitcoin’s 7 TPS Problems. The Lightning Network, while ingenious in design, has proven to be overly complicated in execution and has not gained traction, particularly among merchants and those lacking technical expertise.

A perfect Bitcoin scaling solution would be similar to cash and would have the following properties:

  • no fees
  • Anonymous
  • Instant

This Bitcoin scaling solution already exists; as of October 2022, it is fully live! The solution is called Softnote and it’s a revolutionary reinvention of how scaling can work. Rather than bundle transactions like typical layer two, Softnote allows ownership of a Bitcoin wallet, preloaded with a defined amount of liquidity, to be transferred at lightning speed using the Tectum blockchain. Once the Softnote QR image with a six-digit pin is delivered via email, mobile device, or even printed on paper, the new owner secures their ownership cryptographically by entering the pin into the Softnote platform and a new random pin will be generated. . known only to them. Since this handover has taken place off-chain, it is virtually frictionless, untraceable, and anonymous.

At this point, the new owner has immutable ownership and control of fully liquid and secure Bitcoin tied to their Softnote that can be used in other Softnote transactions. However, suppose they decide to pull the underlying Bitcoin liquidity out of Softnote. In that case, Softnote can be burned and the private keys associated with that Bitcoin wallet will be returned to the owner of Softnote.

The Softnote platform is powered by the new 3rd generation Tectum blockchain, which has a specialized three-tier DAG-like architecture that enables phenomenal TPS and near-instantaneous transaction finality. Tectum’s consensus mechanism is known as ‘Proof of Utility’. It enables Tectum to operate at over 1 million TPS, making the chain perfect for applications in a distributed IOT context, and hosts the Softnote platform. Besides the incredible speed, Tectum’s other killer app is its functions as an ‘overlay network’ for the Bitcoin main chain and has its Bitcoin node built-in. This means that providing liquidity to Softnotes is as simple as possible and optimized for maximum efficiency of BTC transaction fees.

ETT presale

Tectum’s native ‘TET’ token is capped at 10 million, and the main utility of TET is that it is required to mint new Softnotes. The presale price per token is $3.00, which means that with a supply of 10 million caps, the market capitalization is $30 million, which most investors familiar with the cryptocurrency industry will be aware of. agree that it has great upside potential in the context of comparable layer one projects. In the last seven days, the company enabled its beta test app for minting softnotes on the ‘Telegram’ platform. Since then, the community has minted over 480,000 Softnotes. You can participate in the TET presale by going to tectum.io.

Media contact details

Email: [email protected]

About Tectum and Crispmind

The entity behind Tectum and the Softnote platform is Crispmind, a Chicago-based software development firm with a team highly focused on both quality and community engagement. Join our weekly live AMA (ask me anything) sessions to talk with us directly, or visit Tectum.io to learn more about Bitcoin’s inevitable scaling solution.

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