What Talleo wants to become...

What Talleo wants to become...

By Talleo | Talleo | 3 Mar 2020


Main goal of Talleo is for users to be able to pay with TLO on any website that offers services or sells good.

 

Why is Talleo better alternative than other currencies that want to be global payment methods?

 

1. Low fees, 0.01 TLO is the lowest possible usable amount, it equals to 1 atomic unit in CryptoNote

2. No coin dust, other coins have smallest amount that can be sent that is more than 1 atomic unit

3. Fast transaction confirmation time, normal transactions need only 1 confirmation, miner rewards require 10 confirmations

  • 1 confirmation = 1 block mined on top of the block containing the transaction
  • 7 confirmations is the smallest amount that is deemed safe for normal transactions, 10 is still recommended minimum

4. Exchange rate of TLO-BTC (Talleo <-> Bitcoin) is stable, it doesn't go up and down very fast


Talleo also plans to integrate sending TLO between any user of social networking applications, including Discord and Telegram.

 

Why is Talleo better than alternative than other currencies that have Discord or Telegram bots?

 

1. Talleo doesn't have maximum amount that can be sent in one transaction

  • wallets that contain large amount of outputs need to be optimized before sending, but optimization is supported in bots. Output is like coins and bills (paper money) in national currencies, smallest output is 0.01, largest is 300 million TLO
  • Any transfer amount is composed of one or more outputs. When optimizing wallets, user is essentially combining outputs of smaller denominations to make one output of larger denomination.
  • Denomination is like output, but where first number in atomic units is always one and the others are zero... Smallest denomination is 0.01 TLO, largest is 100 million TLO

2. Talleo has minimum amount that can be sent in one transaction using any bot

  • Minimum amount is set in bot configuration to avoid spamming the network with very small transactions
  • Minimum amount is set low enough that normal users won't need to worry about it

3. Like with all Talleo services, transaction fee using the bots is 0.01 TLO, there is no separate node fee


Optimizing wallets

Number of outputs before optimizing must be at least 4 times the number of outputs after the optimizing. This equals to minimum of 12 inputs and 3 outputs.

For example:

1. Optimize multiple outputs of denomination 0.01 (0.01-0.09 TLO) to have one output of 0.10 TLO, the possible remainder is returned as second or third output. If the total amount is more than 0.20 TLO but less than 0.30 TLO, the second output can also be 0.10 TLO.

2. Optimize multiple outputs consisting of several denominations. Each output is denomination multiplied by number between 1 and 9 so that the total number of outputs fulfills 4:1 ratio and the total amount of inputs equals total amount of outputs.


Talleo
Talleo

Lead developer of Talleo Project


Talleo
Talleo

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