HARD WALLET

Detailed Review Of Tectum

Blockchain DeFi has seen strong momentum in the last couple of years, not just in the price of tokens but in terms of deploying products. Many projects appear as “me-too”, providing the same features as many others and not having clear or unique value propositions.

There are some projects making practical sense and problem-solving in a clear and unique way.  One project that stands out is Tectum.

What is the Tectum Project? 

Tectum is a crypto project developed by Crispmind, a Chicago-based software development firm. It is a distributed ledger protocol (DTL) platform whose ecosystem comprises the Tectum blockchain, the Tectum Wallet, the Tectum Token (TET), the Tectum Softnote, and a 3FA authenticator app. The following description of each component gives a synthesis of the project and the value it brings to the global crypto space.  www.tectum.io

Tectum Blockchain

The Tectum Network uses a distributed ledger to record transactions confirmed by a Proof-of-Utility HASH algorithm.

This technology exceeds 1 million transactions per second and provides instant event status delivery and ownership updates across the network and distributed levels of access to functional system modules.

Instead of storing the data directly on the blockchain, Tectum stores hashes that are mapped back to the original data stored at a lower level. This isolates the heavy transaction-related data from the main pipeline by hashing, encrypting and signing the bundles at the end of every transaction and archiving it.

It is an overlay network which allows other blockchain products—for example BTC—to run on Tectum without any of the congestion or fees inherent on their native networks.

This makes the event-related data instantly verifiable and publicly accessible, with different levels of accessibility to different transaction-related modules where the original data is stored.

Tectum is perfect for lightweight, high-volume applications to effectively notarize and store municipal, legal, logistics, and billing records, for instance.

Tectum also has Internet of Things applications, such as recording drone geo-positions or systems status of a vehicle several times a second.  https://tectum.io/blockchain/

Tectum Wallet

Like its blockchain, the Tectum wallet also has some unique features. At the base of things, it allows the user to transfer and convert other cryptocurrencies at a minimal fee compared to other “traditional” congested networks. This makes it a solid solution for currency transfers and retail POS applications. Apart from being faster, Tectum is less vulnerable than the Lightning Network as it integrates a BTC node with the Tectum giving it an advantage similar to wrapped BTC.

The other positive of the Tectum wallet is its completely instant, low cost and highly secure payment mechanism while avoiding unnecessary derivative settlement issues.

Tectum Token- TET

The Tectum Enumeration Token (TET) is a utility token that allows holders to access Tectum products like SoftNotes and the TEC coin. TET has a hard cap of 10M and is scheduled for listing in 4Q22

The networks speed makes TET its’ derivative products ideal for mass adoption, financial independence, and personal control for users. TET can be exchanged for a 100 count Softenote pack.

Tectum Softnote- Combining Digital with Physical

A Softnote is a smart contract that transports value on the network. Think of it as a digital lockbox that can filled with something of value—BTC, TRX, USDT, etc.

SoftNotes travel on the Tectum network instantly and free. They will be used for instant retail purchases too, just like cash or credit cards/bankcards. Retail transactions will be charged a >1% fee.

When a SoftNote is created/minted it has several unique properties, much like fiat currencies.

It is designated in a specific “currency” like BTC or USDT. It has a unique serial number with a proof-of-funds address and a denomination. The serial number that can be verified and tracked on the Tectum Explorer

Once a SoftNote is minted, it must be filled with liquidity such as BTC or USDT. The note is then sold on the Tectum Exchange and circulates just like fiat currencies.

SoftNotes can be exchanged digitally from a wallet or physically printed and handed to a recipient. If you lose a fiat note it is gone. A SoftNote has an auto-generated pincode that is a proof of ownership. When an exchange is made, like for a pizza, the receiver is given the note and the owners pincode which is entered into the SoftNote exchange bot by serial number and pincode. A new pincode is generated which confirms the recipient’s ownership. If a SoftNote is lost, it cannot be used without the exact pincode, rendering it useless to thieves and hackers.

Quantum-Proof Authentication: 3FA

Digital theft is on the rise and there is a constant need to improve security solutions. The Tectum dev group has a revolutionary new authentication application that is Quantum proof and requires three-factor authentication. Trademarked as 3FA, this application is a mobile and desktop authentication platform that provides payment processors unbreachable security. The application works by intermingling human & machine logic to create quantum-proof login encryption and protects against SMS and QR-code hacking while offering Dual Tone Multi-frequency (DTMF) fallback protection for lost or legacy devices.

Using the technology called “SwapWire.” 3FA uses on-device encryption, powered by a secure-tunneling protocol that doesn’t leave the PIN information open but encrypts it while communicating between the user and the server.

The Value Proposition

Tectum is a fantastic end-to-end multi-product ecosystem that provides speed and security to the user and offers a mass adoption solution to microtransactions and POS businesses. Tectum could soon become a go-to project for everyone. While it’s still early days for the project, the products have immense potential. It will be exciting to see how it takes shape and is accepted by users in the future

Disclaimer
The presented content may include the personal opinion of
the author and is subject to market condition.
Do your market research before investing in cryptocurrencies.
The author or the publication does not hold any responsibility
for your personal financial loss.


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Traciwininger
Author: Traciwininger

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