Cryptocurrencies has surely gotten much wider adoption then they had in Bitcoin era. Volume of money flowing in crypto has increased a lot. One more thing that has changed is the number of cryptocurrencies in the market. Each serving its own specific purpose and trying to tackle some specific problem. We have USDC on Ethereum (and its Layer 2 solutions), Algorand, Tron, BNB etc etc. Not only that, there are specific tokens that exist on each chain which are not being circulated on other chain.

Surely there are Interchain DEXs and ThorChain that allows you to exchange one for other. But is it the feasible solution? Can't the User Experience be made much more better? Surely, there is a lot that can be done. This is where SoftNote comes into picture. But it does not just solve the interchain communication issue, it targets and achieve even a bigger goal. Let's take a dive!

Tectum and its SoftNotes

Crispmind is a team of several experienced cyber-experts. They developed Tectum and the SoftNotes which will be discussed in this blog. The team also developed first ever quantum-proof 3 Factor Authentication and Grig messenger and many other B2B products. Tectum allows its users to transfer/trade/gift Bitcoin and other cryptos to its user with complete privacy. It mints Softnotes on the Blockchain which can be sent to any recipient either in offline or online manner. Recipient can then redeem the SoftNote for the original cryptocurrency whenever they want. Using T12 Protocol (which incorporates Zero Knowledge Proof), it provides anonymity to its users. So how does this works?

What is Tectum Blockchain?

• Tectum is Layer-1 Blockchain on which SoftNotes are minted.
• It uses Proof of Utility. This is how it works in brief:
  • A cryptographic Lottery is done for each round and it picks a random Master Node.
  • Master node then create a block of transaction by picking up the one's available in the pool.
  • Then a Game is played. All nodes get a random number.
  • Master node then chooses a random number (let's say 90).
  • Whichever node has the number closest to the number picked by master node (in our case 90) is called Elect Node 
  • Elect Node then has the task to verify the block created by Master Node and add it to the chain.
• This Lottery and game system is repeated for each block. Every participating node gets a chance to add block which gives decentralization.
• The blockchain uses NoSQL for further speeding up indexing any block in the chain.
• As per the team, it can scale up to 1 Million Transactions per second. Stupidly Fast.

What Else?

• T12 Protocol on the blockchain provides superior anonymity for its users.
• Transactions on Tectum are free with T12 Protocol. At max, user will be charged 0.1% as fees for micro-transactions.
• When we transact SoftNotes (will get to them next), they are stored as contracts bind to recipient account. So, they are always yours. 

What exactly are SoftNotes?

SoftNotes are like lockers (or crypto carriers). Each SoftNote is unique. They have a serial number and are linked to a specific account and can only be opened with a passcode by the recipient. You can send them to anyone. It holds some value of cryptocurrency coins and/or token. It can be burned by the recipient to get the equivalent value back. You can mint SoftNotes by converting your Bitcoins and other coins to equivalent TET. These tokens are then burned to create a locker of equivalent amount of crypto.

You might get a hint of where this is going. Since SoftNotes just hold your coins (as ordinary wallet) until redeemed by the desired recipient, they can be used to hold almost anything as the future development happens. NFT, tokens, native coins etc. This makes them very flexible.

SoftNotes have more benefits. You can take a print of them and then offline you can give it to the recipient. They can login to their account and then redeem their SoftNote there. Note that only the account who was marked as recipient when minting SoftNote can redeem them. Not even the Sender!

SoftNote Ordinals

Ordinals are unique identifier that you can inscribe on a Satoshi (Satoshi/sats is the smallest divisible unit of Bitcoin). On Tectum, you can mint SoftNote Ordinals. Here are the major benifits of doing so:

• Whereas it will cost you $8000 for minting a 1 MB of ordinal on Bitcoin, you can do it for less than $2 on tectum.
• Ordinals are re-inscribable on Bitcoin chain. But they are immutable on Tectum.
• On Bitcoin chain, it may take hours and above $10 fees to mint an ordinal. On Tectum, it is near instant and $0.02 transaction fees.
• Bitcoin ordinals have limited size due to the block size limit. On Tectum, you can mint ordinal of up to 4GB.

SoftNote wallet

There is an official wallet which you can use to store and mint Softnotes. What do I mean by store? If you don't want to burn your Softnote now, you can import it to your wallet and redeem it later. To import, you need to provide Serial Number and Passcode (same as you need to burn). You can create a new account on: https://wallet.SoftNote.com/registration. Once your account is created, you will be redirected to the dashboard as shown below:

You get the option to deposit Bitcoin and other cryptocurrencies. Then you can use them to mint SoftNotes bills as per your desire. The minted SoftNotes can then be printed or sent digitally to the recipient. Once they receive the SoftNote, they can burn them at https://SoftNote.cash/ to receive the amount in their wallet or just store in their SoftNote wallet.

Currently, you can mint SoftNotes in BTC, USDT and Tron. However, before minting you need TET token, and you are given a wide list of cryptocurrencies which you can convert to TET and then burn to mint your SoftNotes.

TET is Tectum's official token. It allows injecting liquidity in various different blockchains. That way you can buy and send the token to your Tectum wallet and mint SoftNotes. You can check its tokenomics at https://docs.google.com/spreadsheets/d/18Fk3EBkhPgWM1hpMxHiEi7ekIBjkjwOLJDQwTcvKnPA

How does a SoftNote looks?

• Denomination and Currency which tells you the amount of cryptocurrency.
• Serial Number is a unique ID generated for your SoftNote.
• Network and Protocol  will tell you which cryptocurrency that SoftNote holds is in which chain (BSC, ETH, ALGO, TRX etc ) and protocol (BEP-20, ASA etc).
• QR Code which you can scan to quickly get the history.
• Address where the crypto is stored.

Integrating Tectum

Tectum provides comprehensive API that can be used to integrate it to Centralized and Decentralized Exchanges. All in all, what are the benefits on incorporating Tectum Blockchain? There are lots:

• Stupidly fast Transaction speed. Within a mini seconds, the transactions are confirmed.
• Scalable! Over Million Transactions per second.
• No Gas Fees for users. The maximum they will ever have to pay for microtransactions will be 0.1%
• Merchants get fee discounts so that they can quickly and cheaply send rewards etc. to their users.
• Anonymity is provided because of the Zero Knowledge mechanism.
• Instead of just a DAO holding all the assets, they are stored in user's own wallet or smart-contracts managed solely by user.