Recently, there are many blockchain platform that were launched to solve the blockchain trillema of decentralization, security and scalability. Tolar is one of the more prominent one. The word Tolar came from the Slovanian language where Tolar is the basic currency unit.Tolar believes that we need to evolve beyond blockchain technology to solve the current problems.
What sets tolar “tall” among the other blockchain projects
- Revolutionary hashnet technology that surpasses current blockchain technology. It is capable of scaling up to 200K TPS. Since the hashnet technology doesn’t require miners to create a chain of blocks in order to record transactions, there’s no need to wait for the block creation time, block size and other legacy issues.
- Transparency of fund - allocation of community funds and voting process is 100% transparent
- Mobile compatible – As more and more people rely on smartphones to work and communicate, it is essential for the crypto platform to be mobile centric. Tolar’s Hashnet can use a smartphone to run as a fullnode
- Ability to scale –Hashnet is build for speed and capable of handling of large increase in number of nodes. It is also capable to process and confirm all transactions in matter of seconds
- Decentralization – unlike current bitcoin or ethereum platform where large group of miners have form massive pools. Every participant in Tolar can contribute by voting in the DAO environment.
- Master Nodes will be use for securing the network and be rewarded for it. To run the masternode, users wil need to stake 500K TOL tokens.
The hashnet consensus runs on the “redundancy reduced gossip” and “virtual voting” protocols to provide a fair and fast algorithm. The algorithm maintains all the benefits (decentralized, transparent, pseudo anonymous) of the blockchain without suffering it’s limitation.
Tolar will use a governance system call “Magnus Consilium” – or in English “The design is great” . This is a system where every token holder has a right to vote for proposals and improvement of the platform. The system will use the proof of Stake mechanism in which holders will receive coins based on amount and duration staked. A tender system is use to decide on the budgeting plan with emphasis on :
social impact, decentralization and governance, outreach, contribution , extensiveness
Application :
The team currently focuses the application on the IoT, logistic, healthcare and government
Healthcare – use for storage of medical records securely.
Supply chain logistic – enable stakeholders to communicate and share information efficiently
Procurement – enable stakeholders to access information in transparently and quickly
Government – implementation of e-government projects, reduce bureaucracy and allow for collaboration between
different stakeholders.
IoT – can be use for registering, authenticate and track devices. No need for expensive interface in private network.
Team members :
Most of the team member are either members of the Cotrugli business school or former alumni. Cotrugli business school realize the potential and future of the blockchain technology .
Josip Maricevic – Co-founder and CTO, owner of moon code a mobile app development company with focus of blockchain project, crypto currency project and ethereum smart contract.
Drazen Kapusta – principal of Cotrugli Business School , one of the leading MBA in East Europe. He developed the world’s first Blockchain MBA and Certified Blockchain developer program. He’s member of the Enterprise Ethereum Alliance and President of Blockchain Adria, a prominent blockchain association in SE Europe.
Mario Vojvoda – CIO, IT Leader with more than 15 years of experience in the telecom industry, innovation, R&D and international business development within the challenging environment. Former IT Director of T-Mobile Croatia and was CTO of Iskon.
Bojan Hadzisejdic – Business Development Manager, 15 years of sales experience in the IT industry, both corporate and SME level. Work previously in Microsoft (2003–2015), eventually becoming a cloud transformation consultant as well as director of Nephos, a company dedicated to help businesses transform and grow, implementing digital transformation.
Neda Zajko – CMO , 8 years of experience in marketing and communications. Neda is in charge of campaign management and marketing strategies while supervising a team of social media experts and following blockchain marketing trends.
The TOLAR team is huge with 8 foundation board members , 8 development team members, 8 business development team member and 15 advisors.
The project is also backed by some prominent VC like GC Cpital, Black Castle capital and AngFund
Tolar already has a prototype demo showing speed up to 150K TPS in Jul’18. This is across a test net with 11 master nodes spread globally.
Timeline : mainnet scheduled in Q2’19 . Smart contract based on Ethereum Virtual Machine will be developed upon network reaching high throughput.
Tokenomics and Hype
There are around 14K members in their telegram group
The team has tour many cities like Bangkok, Kuala Lumpur, Seoul and Tokyo to promote their platform which is great.
They even won Ian Balina ICO pitch competition in Budapest in the Crypto World Tour in June.
https://medium.com/tolar-hashnet/tolar-wins-the-ian-balina-pitch-contest-in-budapest-6124371ef4bb
Back in July18, Tolar host an Euro-Asia Blockchain Hub Press Conference in Kuala Lumpur with 1,200 participants. Tolar also open an Euro-Asia Blockchain Hub office in Kuala Lumpur. The office will be use for promoting Tolar blockchain in the region.
Tokenomics
Hardcap : 45,000 ETH
Softcap : 20,000 ETH (already reached)
Total supply : 1 billion
Bonus : Private sale - 20%, Presale – 10% (bonus lock for 3months)
Allocation :
35% available for sale (40% private, 35% presale and 25% public sale)
20% founders (lock for 36 months)
32% Tolar development fund (lock for 36 months)
8% proof of stake network start nodes (lock for 36 months)
2.5% developers , 2.5% advisors (lock for 24 months)
Prices in ETH for presale:
For contributions of more than 50 ETH price is 0,000120879 ETH per TOL (20% bonus included in price)
For contributions between 10–49 ETH price is 0,000131868 ETH per TOL (10% bonus included in price)
For contributions between 1–9 ETH — price is 0,000145055 ETH per TOL
Conclusion :
Technically the project looks good on paper and the demo also sets a benchmark for speed. Although the team members are well balanced and experienced, none have been in any major blockchain project.
There are many blockchain project (eg zilliqa, quarkchain , fantom) competiting for the same space to provide scalable, high speed transaction. Tolar needs to show more partnership and collaboration details as the platform is only as good as the number of users on it.
The pre-ico sale will be running in the whole month of August, while the main sale will be starting in 15 Sep
https://www.tolar.io/
https://twitter.com/TolarHashNET
https://tolar.io/wp-content/uploads/2018/06/HashNET_whitepaper_v03.pdf - whitepaper
bounty0x username : yihzymoney
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