What is Tolar?
There are a few problems that are present within the blockchain framework. For example, blockchain is known for its slow processing times in comparison to fiat money.
Bitcoin transactions can take a few hours to finalize. As a result, this limits Bitcoin’s potential as a payment mechanism. Tolar was made to solve these issues through HashNet and blockchain technology.
With the inclusion of Hash, Tolar is able to process over 200,000 transactions per second. This means that the ICO project is built to scale and improves the overall transaction process. Since it consists of HashNet, Tolar doesn’t require mining rigs of equipment to get started.
This makes it a cost-effective and environmentally friendly option. It plans to solve the problem that Ethereum, Bitcoin, and other PoW systems have, which are currently using electricity in over 109 countries including Africa and Ireland.
- Security: Tolar’s HashNet is unable to be hacked because of its distributed algorithm. The algorithm is responsible for keeping consensus between the nodes. Also, combining the Proof-of-Stake and master node, adds more transparency, since users are compensated for voting correctly.
- Scalable: In comparison to Bitcoin that can only process 7 transactions per second, Tolar can hold over 200,000 per second. As we stated earlier, this is a speed that’s fast enough to scale with the growing users on this platform.
- Fair Transactions: Another reason why users like Tolar is due to its transparency. No user can affect the consensus orders of the transactions
- Mobile Compatibility: Tolar’s platform is designed to fit both web and mobile devices. This makes it easier for new users to like the platform and start using it.
- Website: View
- Whitepaper: Read
- Fundraising Goal: 20,000 ETH (Soft Cap) – 45,000 ETH (Hard cap)
- Total Token Supply: 1,000,000,000 TOL
Bounty0x username: thetechinsiderorg
- Team Quality: Tolar is backed by a large team that has a large scientific background. The team is based in Croatia and Slovenia, and has developers confident on driving the project to completion.
- Decentralized Governance System: Tolar uses the Magnus Consilium structure to help users vote on proposals. This means that this a democratic system where each token holder votes for the future of the project.
- Unique Blockchain: Tolar is using its own HashNet framework as a blockchain platform. This makes it faster than traditional blockchains and able to process more transactions.
- Competition: Since its framework is on a different blockchain, how will it obtain market share against major cryptocurrencies such as Bitcoin and Ethereum?
- No GitHub: We’d like to see this ICO have a public GitHub to show its code. This will help investors and developers understand its blockchain and how it works.
- Early Stage: Tolar is still in its early stage in project development. The team expects to complete its roadmap by Q4 2019, which can be long for some investors.
Overall, Tolar is a great project. Not only does it solve the problems with current blockchains, but it creates a network where users can trade instantly. Thus, we can’t wait to see this project follow its roadmap for the upcoming years.