Blockchain technology system is literally refered to as a growing list that comprises of records which is basically labelled as blocks and these blocks are linked together using a means which is basically known as cryptography. Blockchain technology system was developed inorder to help fix the lapses which was evident in the traditional means of transaction which involved using of physical fiat currency. These lapses includes and revolves around: outrageous transaction costs involved in transacting fiat, issues of border measures which is basically involved in transacting fiat currencies, centralised system settings of handling traditional means of payment. Blockchain technology system was developed in 2008 by a man named Satoshi Nakamoto to serve as a public transaction ledger model for the bitcoin cryptocurrency.
Ever since the blockchain technology system birthed the era of digital currency, it has thus been applied in other fields of our daily lives to increase not only effectiveness but also productivity. It also plays other roles like;
I. Reducing the issue of cyber attack through it's decentralised nature which disperses data making it not concentrated at a point thus very difficult to hack.
II. Also, another role it plays is the identification process in tracking goods and also been able to identify them cause each transaction can be basically verified and also encrypted with the use of blockchain technology system.
III. It also allows secured storage of data as well as documents and certificates through the use of smart contracts.
But despite all this, the current blockchain technology system model still have loop holes which revolves around speed, scalability and top notch security which is basically as a result of wider adoption of the blockchain technology system on a global scale. But however the TEMTUM platform is therefore trying to revolutionise blockchain technology system to enhance its full effectiveness as well as productivity by improving its speed and scalability units and in turn modifying it into a trustworthy as well as reliable financial model.
WHAT TEMTUM PLATFORM IS ALL ABOUT.
In our current crypto space today, alot of cryptocurrencies have been launched using the blockchain technology system but despite all that, none of the said currencies has really made a headway in becoming the globally accepted medium of payment for everyday transactions. However unlike the other projects or better still other platforms, TEMTUM will represent a step further into the future as it aims to bring about evolutionary changes in cryptocurrency ecosystem. Temtum platform is basically a platform whose main ideology is to create a platform that is efficient, quantum secured as well as super fast while compared to other platforms built upon the blockchain technology system. The platform basically will develop a cryptocurrency which will be termed the TEM and as a cryptocurrency, it will be the first cryptocurrency to be ever modified into a more advanced technological coin as well as the most favoured blockchain coin in the global ecosystem. Temtum is basically derived from two main words "Tem" and "Tum". Tem- is derived from "TEMporal blockchain" and Tum- from "quanTUM randomness".
PROBLEM FACING THE CURRENT BLOCKCHAIN TECHNOLOGY SYSTEM AND TEMTUM'S SOLUTION TO THE UNDERLYING PROBLEM.
Despite been a new emerging technology, blockchain technology system has basically been able to effect most of it's underlying features, models and structures to improve the productivity of certain fields of life but yet, the current blockchain technology model is still faced with certain underlying problems which the TEMTUM platform aims to resolve in other to create a more productive and effective system.
I. ISSUE OF SECURITY: Despite the fact that blockchain technology system is designed in such a way that it will be very difficult for hackers to break into it's system but with the level which technology has attained in recent times, sophisticated hacking systems as well as top hacker can be able to break into the pseudo random key generating set of the blockchain based crypto coins thus compromising the security of the platform's in which they are incorporated.
SOLUTIONS OFFERED BY TEMTUM PLATFORM:
With the use of temporal blockchain model, the issue of cyber attack will be phased out. Temporal is a blockchain model that is basically secured by a quantum source and also which uses photon to generate its random numbers together with a next generation hashing algorithm.
II. SCALABILITY ISSUES: Due to the fact that the current blockchain technology model is not fully decentralised in nature, attaining full scalability will therefore be a problem because in many cases or scenarios, they system requires a high entry point inorder to attain full decentralised state which is always a major issue.
SOLUTIONS OFFERED BY TEMTUM: With the temporal blockchain technology there will not be any more need for storing the entire chain history of all existing nodes. This will reduce the required resources thus allowing anyone with any form of gadget to take part in the system thus leading to true decentralisation and infinite scalability level.
III. ISSUE OF SPEED: The issue of speed within the blockchain technology system is measured in time taken to execute a transaction process and also also how many transaction processes are carried out within a fraction of a second. With bitcoin, it takes about 10 - 15 minutes to carry out or execute a transaction and comparing a system with such speed to be used as a model of everyday transaction, one can basically say that the system is very slow.
SOLUTIONS OFFERED BY TEMTUM:
With the temtum network, users will only have to wait for only 12 seconds for the confirmation of their transaction process and this is possible because the platform's network will create a consensus algorithm model which will be highly efficient and also they will remove block size limitations in terms of confirming transactions and will use a block system that will be extremely quick.
TO KNOW MORE ABOUT TEMTUM PLATFORM
Join the Telegram Group: https://t.me/temtumcommunity
Join the Discord Group: https://discord.gg/hs3v4g4
Follow on Twitter: https://twitter.com/wearetemtum
Follow on Facebook: https://www.facebook.com/wearetemtum
Follow on LinkedIn: https://www.linkedin.com/company/temtum/
Follow on Medium: https://medium.com/temtum
Website: https://temtum.com
Whitepaper: https://temtum.com/downloads/temtum-whitepaper.pdf
Writer's Bitcointalk Username: Musekay
Writer's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2070957