Tectum and Softnote: Bitcoin’s new scaling solution

by · October 10, 2022

SPONSORED POST*

Developed on Tectum’s blockchain, Softnote emerges as a new solution to Bitcoin’s scaling problemable to increase BTC transactions per second (or TPS) by making them instant and at zero fees.

Myknote: Bitcoin scaling solution built on Tectum’s blockchain

Softnote is a new tool built on Tectum‘s Blockchain which aims to solving the problem of scaling Bitcoin (BTC) transactions.

In fact, i “blockchain trilemma” first coined by Vitalik Buterin, the three basic principles of decentralization, scalability and security need one inherent trade-off to happen simultaneously.

At the present time, The Bitcoin blockchain, while fulfilling the concept of decentralization and security, lacks scalability. To date, it can only process transactions approx 7 TPSan insufficient number to be the economic basis of a global financial system.

That’s why Softnote is presented as a revolutionary way of thinking about cryptocurrency, able to process more than 1 million TPS BTC by addressing the network scaling problemwhile also creating transactions instantly, with zero fees and complete privacy.

Developed on Tectum’s Blockchain, Softnotes are minted using Tectum’s Native Token (TET) – which is running a pre-sale open to the community that launched in October.

“Announcement!: TET Presale is live now!”

My note: what the innovative solution is and how it works

Softnote is defined as a bearer instrument that represents ownership of a Bitcoin wallet. It’s kind of like combines cryptocurrencies and paper money in a way that allows for transactionless payments while maintaining the physical backing of “cash” beneath the trusted layer of the blockchain.

In practice, ownership of the wallet is linked to Softnote and can be transferred from user to user via QR code or the Softnote number paired with a six-digit pin. In this way, Softnote can literally be printed on paper and given to another user with the corresponding pin.

The user-to-user transfer can be done physically or electronically via email, chat, social media and is not recorded on Bitcoin’s blockchain. Thus, an instant transaction with no fees with complete privacy.

Tectum smart contract and TET advance sale

Softnote allows users owns his Bitcoinlike that is liquid and it is possible to redeem it and transfer it to one’s BTC wallet.

Not only that, the platform provides security, immutability and decentralization as is a smart contract built on Tectum’s Blockchain.

This Blockchain presents itself as a revolutionary new architecture with the team promising performance of over 1 million TPS Bitcoinacts as an “overlay network” to that of the queen of crypto and with its own embedded Bitcoin node.

Essentially, Tectum’s Blockchain stores the private BTC keys associated with each Softnoteallowing the ownership of that wallet to move at an impressive speed.

Currently, TET is in public presale at $3with a maximum access of 10 million tokens and thus one a total market value of 30 million dollars.

The limitations of the different BTC scaling solutions in the market

Softnote and Tectum aim overcome the limitations of the various BTC scaling solutions in the market.

Among the former are Forks of Bitcoin Cash (BCH) and Bitcoin SV (BSV)or Litecoin‘s crypto, which to scale Bitcoins Blockchain has increased block size so that more transactions per block and thus more transactions per second can be entered. Unfortunately, however, the network’s trust in these devices has waned over time.

Another real contender for a Bitcoin scaling solution is Lightning networkalthough that too suffers from many limitationssuch as not fully solve high BTC transaction fees.

Not only that, compared to Softnote, Lightning Network protects less privacy and is also vulnerable to attacks by malicious actors. That’s why LN currently also doesn’t seem to have taken off the way BTC visionary followers hoped.

*This article was paid for. Cryptonomist did not write the article or test the platform.



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