Hello Hello and let me begin this post by saying this is an entry for the Tectum SoftNote Contest.
I must admit that prior to researching for this contest I had not heard of either Tectum the blockchain or their star product Softnote!
Did you know that Tectum is ridiculously fast?
How fast I hear you say ...
This fluffing fast ...
The Tectum Layer 1 Blockchain is the fastest blockchain in the world and transacts at 1.3 million TPS!
Tectum™ is a distributed ledger protocol platform that employs the proprietary record change signature management algorithm.
Tectum was developed by the Cybersecurity company Crispmind, a Chicago-based software development firm with decades of combined experience amongst them all.
There are various products and services associated with Tectum :
- Tectum Token (TET)
- Blockchain
- Explorer
- SoftNote
- SoftNote Ordinals
- SoftNote Wallet
- XFA™ Authenticator
We will focus now on the flagship product SoftNote.
What is SoftNote?
Quite simply, SoftNote is The high-speed transactionless payment system of the future.
We all know the problems paying with Bitcoin, buy a three dollar coffee and pay with Bircoin and it does not bear thinking about how much it would actually cost!
So get this ...
SoftNote is a transactionless payment system with instant payments and zero fees.
We of course we are expecting instant payments if the Blockchain executes transaction of upwards of 1 million transactions per second!
But zero fees, now we are talking more kind of thing... FREE who doesn't like free!
Tectum uses its Bitcoin node and overlay network to facilitate on-chain transfers with low fees and fast transaction times. SoftNote can reduce transfer costs to zero and provide instant finality, making BTC a scalable global cash system.
This though is a great feature. SoftNote enables fast and anonymous transactions by replacing them with handovers.
SoftNote bills will be emitted using Bitcoin, Ethereum and USDT as a store of value and can be purchased through Tectum’s web wallet and mobile app.
Blockchain Explorer shows us SoftNote Transaction data as tabulated below.
Microtransaction-Friendly
Zero-fee policy and instant finality makes micro-transactions possible.
For me the biggest selling point of SoftNote is the ability for microtransactions. Mass adoption is going to come in places like Nigeria and Venezuela but only if things are viable on a daily basis. Like I mentioned previously buying a coffee for example, this is where SoftNote comes into it's own.
