Developed on the Tectum blockchain, Softnote emerges as a new solution to the Bitcoin scaling problemable to increase BTC transactions per second (or TPS) making them instant and fee-free.
Softnote: Tectum Blockchain Based Bitcoin Scaling Solution
soft note is a new tool built on tectum‘s Blockchain that aims solve the problem of scaling Bitcoin (BTC) transactions.
In fact, in the “blockchain trilemma” first coined by Vitalik Buterin, the three basic principles of decentralization, scalability and security I need a inherent compensation to occur simultaneously.
Currently, the Bitcoin block chain, although it complies with the concept of decentralization and security, lacks scalability. To date, it can only process transactions in approximately 7TPSan inadequate number to be the financial base of a global financial system.
That is why soft note is presented as a revolutionary way of thinking about cryptocurrencies, capable of processing over 1 million TPS of BTC by addressing network scaling issueat the same time it does instant transactions, with zero commissions and total privacy.
Powered on the Tectum Blockchain, Softnotes are minted using Tectum Native Token (TET) – which is running a pre-sale open to the community that launched this October.
🚨 Announcement! 📣:
⚡️ $TET presale is now available!
🎉 Hello tectumites!
✅Join the presale here
(https://t.co/lWwZYN6Y6h)✅ Already have a wallet? join here
— Tectum (@tectumsocial) October 8, 2022
“Announcement!: TET presale is now available!”
Softnote: what is the innovative solution and how it works
Softnote is defined as a bearer instrument representing ownership of a bitcoin wallet. it’s a bit like combining cryptocurrencies and paper money in a way that allows transactionless payments while keeping the physical carrier of “cash” under the trust layer of the blockchain.
In practice, ownership of the wallet is tied to Softnote and can be transferred from one user to another through the QR code or Softnote number paired with a six-digit PIN. In this way, the Softnote can literally be printed on paper and given to another user with the associated pin.
The transfer from user to user can be done physically or electronically through email, chat, social networks and is not recorded in the Bitcoin block chain. Thus, an instant transaction free of charge with complete privacy.
Tectum’s smart contract and TET presale
soft note allows users own your bitcoinas it it is liquid and can be redeemed and transferred to one’s BTC wallet.
Not only that, the platform provides security, immutability, and decentralization out of the box. a Blockchain-based smart contract from Tectum.
This Blockchain is presented as a revolutionary new architecture with the team Promising performance of over 1 million Bitcoin TPSfunctioning as an “overlay network” to that of the queen of cryptocurrencies and with its own built-in Bitcoin node.
Essentially, Tectum Blockchain stores the private BTC keys associated with each Softnoteallowing ownership of that wallet to move at an impressive rate.
Currently, TET is in public presale at a price of $3with a maximum supply of 10 million tokens and therefore a total market capitalization of $30 million.
The limitations of the various BTC scaling solutions on the market
Softnote and Tectum pretend overcome the limitations of the various BTC scaling solutions on the market.
Among the first are the Forks of Bitcoin Cash (BCH) and Bitcoin SV (BSV)either litecoin‘s crypto, which to scale the Bitcoin block chain have increased block size so that more transactions can be entered per block and therefore more transactions per second. Unfortunately, however, the network’s trust in these entities has waned over time.
Another real competitor for a Bitcoin scaling solution is the lightning networkbut also suffers from many limitationsWhat not fully solving high BTC transaction fees.
Not only that, compared to Softnote, Lightning Network is less privacy-protective and is also in danger of being attacked by malicious actors. That is why, for now, LN does not seem to have taken off as the visionary followers of BTC expected.
*This item was paid for. The Cryptonomist did not write the article or test the platform.