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

Softnotes overcomes all the scaling issues of the Lightning Network that have hindered progress in El Salvador. They enable emotionless, private, instant and decentralized Bitcoin micropayments without the trade-offs and complexities of the Lightning network. Softnotes makes it easier for merchants to accept Bitcoin and is enabled by the world’s fastest blockchain, a new layer-one blockchain protocol that processes over 1 million transactions per second.

Tectum’s community presale has begun giving community members and retail investors the chance to be involved in an innovative new project that has actively avoided seeking venture capital funding. The Tectum blockchain has been under development by a team from Chicago for several years and is fully live right now. Tectum’s flagship product is Softnote.

Softnotes allows 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 aggregating transactions on a layer two chain like the Lightning network.

Details

Bitcoin’s maximally decentralized architecture makes it resistant to financial and technological coercion and attack. It is a gold-like store of value and bearer instrument. Satoshi also intended Bitcoin to be a medium of exchange. The exchange function has historically been its biggest weakness, with the security and decentralization aspects of Vitalik Buterin’s ‘blockchain trilemma’ prioritized over scalability.

Forks of Bitcoin with a heavier emphasis on scalability, such as Bitcoin Cash, have had little success in part due to their weaker network effects and security, meaning that the Bitcoin community turned to the layer two solutions, the “Lightning Network” to increase the speed Bitcoin’s 7 TPS problems. The Lightning Network, while ingenious in its design, has proven to be overly complicated in execution and has not caught on, especially with salespeople and those lacking technical expertise.

A perfect Bitcoin scaling solution would be cash-like and have the following characteristics:

• No fees
• Anonymous
• Immediate

This Bitcoin scaling solution already exists; from and including October 2022 it is fully live! The solution is called Softnote and is a revolutionary re-imagining of how scaling can work. Instead of aggregating transactions like typical layer twos, Softnote makes it possible to transfer ownership of a Bitcoin wallet, pre-filled with a defined amount of liquidity, at lightning speed using the Tectum blockchain. Once the handover of the Softnote QR image with a six-digit pin is done via email, mobile or even printed on paper, the new owner cryptographically secures its ownership by entering the pin into the Softnote platform, and a new random pin will be generated only known to them. Since this transfer 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 Bitcoins associated with their Softnote that can be used in further Softnote transactions. However, suppose they decide to move the underlying Bitcoin liquidity out of Softnote. In that case, the Softnote can be burned and the private keys associated with that Bitcoin wallet will be returned to the Softnote owner.

The Softnote platform is powered by the new third-generation Tectum blockchain, which features a specialized three-layer DAG-like architecture that enables phenomenal TPS and near-instant transaction completion. Tectum’s consensus mechanism is known as “Proof of Utility”. It enables Tectum to operate with over 1 million TPS, making the chain perfect for applications in a distributed IOT context and hosting the Softnote platform. In addition to insane speed, Tectum’s other killer application is its functions as an “overlay network” to the Bitcoin main chain and has its built-in Bitcoin node. This means that providing liquidity to Softnotes is as frictionless as possible and optimized for maximum BTC transaction fee efficiency.

TET advance sale

Tectum’s original token ‘TET’ has a hard cap of 10 million, and TET’s leading tool is that new Softnotes are required to be minted. The presale price per token is $3.00, which means that with a 10 million hard-capped supply, the market cap stands at $30 million, which most investors familiar with the crypto industry would agree has great upside potential in the context of comparable tier one- projects. Over the past seven days, the company has activated its beta test application for embossing soft notes on the ‘telegram’ platform. Since then, over 480,000 Softnotes have been marked by the community. You can participate in the pre-sale of TET by going to tectum.io.

Media contact details

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About Tectum & Crispmind

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

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