What is Tolar?
Tolar is an open source project deploying Hashgraph methodology to address blockchain today issue : scalability, service quality and ease of use
Tolar is attempting to solve current scalability issues and the team behind the project have developed HashNET, which they claim is a scalable, fast, secure, and fair decentralized- beyond blockchain project, which leverages Distributed Ledger Technology (DLT) and a consensus algorithm which harnesses all the positive characteristics of blockchain technology while also increasing throughput to more than 200,000 transactions per second (tps).
One of the main goals in designing HashNET was to significantly reduce the amount of computational and communication resources needed to operate and maintain a cryptocurrency network. As a result, the team designed a variant of a Redundancy Reduced Gossip (RRG) protocol for information transfer on an appropriately designed network. RRG protocols achieve considerably lower traffic loads than conventional push-based gossip protocols while maintaining the same probability of successful delivery.
HashNET acts as the foundation to the network and allows for a high speed, mobile compatible, highly scalable, and transparent method of operation. On top of this, the Tolar Network is also using a Proof-of-Stake consensus mechanism with masternodes, which does away with the need for large amounts of energy consumption in order to validate network activity. As a result, Tolar is a high throughput blockchain whose development team expect to be supporting the next wave of decentralized applications (dApps).
Competitive Landscape
Tolar is attempting to operate in an area that already has a number of more high profile competitors. EOS and Zilliqa are working on blockchain scaling solutions, while IOTA and NANO are both addressing the need for fast, low cost cryptocurrencies. Projects such as QuarkChain and Fantom will also act as possible competition, and more importantly, Hedera Hashgraph may have already stolen much of the thunder away from projects such as Tolar, as it is viewed by many as the leading DAG technology project. Tolar doesn’t currently seem to have a significant competitive advantage over its competitors, as a number of projects are making similar claims, however, the Tolar team expect the ability to utilise interchain support, a C++ codebase language, and 200,000 tps will allow the platform to gain traction. In addition, the ability to run a full node on a Smartphone may prove attractive, however, much will depend on the team’s ability to execute and produce concrete results.
HashNet is a new blockchain that is almost as dominant as the old blockchain (see chart below). Especially with its extremely fast processing power and ultra-low power consumption, as well as being able to run as a full node on a phone, HashNet can become a potential blockchain in the future if it is successful implementation
Competitive Advantage
Product
Once HashNET is built, the Ethereum Virtual Machine (EVM) application will be developed. EVM is a virtual machine designed specifically to run untrusted code in a computer network. Each transaction is carried out on a State modification system maintained in the Merkle Patricia tree. This data structure allows for easy testing if a given transaction is actually registered to the VM and can minimize the entire state to a merkle root. After creating EVM, smart contracts and dapps will be built.
Roadmap
**More Information **
Website
Whitepaper
Telegram
Bounty0x username : jameshoang
"This article was created in exchange for a potential token reward through Bounty0x"
