INTRODUCTION
The future will not have only one crypto currency. In fact, each data generating application, including persons, machines or communities, will form a certain value and bear operating cost. This will be play out by way each applicantion mining and on its own type of coins. For example, an orange producing village in Africa uses a village coin to navigate its sales and production eco-system without risk of external manipulation or internal inflation.
Furthermore, personal mobile mining blockchain applications can be created easily without server investments. And riding on TAUcoin main chain, branch blockchains will grow from each unique genesis transaction. They collectively form a "tree strucure" to achieve limitless total transaction speed. They also use local branch coins as transaction fee. We use phones to protect and verify the data on permission-less “Proof of Transaction” consensus, while new technologies on scaling, speed and privacy are being implemented on each new branch. POT makes use of transaction history as a probabilostic guide in winner selection to produce new blocks, and TAU protocol is light enough on each branch to allow mobile device store and verify data. This then allows each phone to participate, maintain and grow the tree.
Data storage, computation and communication will be operated on several decentralized devices, such as mobile phones, to reduce the central IT cost and increase the system reliability. This allows people and organizations to use and mine numerous blockchains at the same time by sharing computing and network resources.
ABOUT TAU
TAU is a tree of blockchains with a main chain coin called Taucoin. Branch chains generate from genesis transactions on the Taucoin ledger or other branches, while mners use android phone mining apps to easily store, verify and generate blockchains. The consensus supporting TAU is Proof of Transactions, POT.
TAU'S OPERATION MECHANISM
TAU uses on-chain historical accumulated transactions to ascertain who can propose a new block per branch. Block rewards only come via transaction fees. Each branch of blockchain thus uses own coins as transaction fee to reduce the cost. For every address, the probability of generating a new block is in linear proportion to its historical transaction. This is called the 'mining power', which is analoguos to 'hash power' Bitcoin.
TAU uses IPFS, inter-planetary file system, to store transactions and blocks which are generated by addresses. IPFS pub/sub functions are used for node communications, while IPFS Nodes named in the form of “QM…TAU” are sub-sets of IPFS, and are for TAU blockchain communications. TAU adopts a programing technology that supports mobile devices. Such technologies include high fault tolerance, self-healing and low computing power consumptions. Taking after NXT, TAU uses similar methods to generate random numbers among mining address, so as to adjust block interval times and to manage temporary chain forks. On a base level however, TAU uses Bitcoin cryptographic technologies, which have proven reliable already, including public-key cryptography, digital signature, and address-based transactions. Also, similar to USS Star Trek, TAU is a technology exploration to the frontier of blockchain. We will testing innovative ideas on branch blockchains, such as full privacy, 2nd layer swap, and more.
PROOF OF TRANSACTION
Proof-of-transaction is a decentralized permission-less consensus that miners compete on transactions history. The strength of consensus increases along the transaction numbers accumulated on the blockchain. The bigger the chain, the higher strength of consensus it will obtain. The total strength is ever increasing proportional to the transactions happening, block size increases, and frequency upgrades.
COINS ALLOCATION
The total supply of TAUCoin is set at 2.1 billion, and each coin can be divided to two decimals. All coins are generated in the genesis block. Of the total, 82% will be distributed through a faucet and bounty program. The remaining 18% will be reserved for the TAU foundation team to provide for the maintenance and development of TAU project.
USEFUL LINKS
https://www.taucoin.io/
https://www.taucoin.io/whitePaper/tauwp2.0.pdf
http://t.me/taucoin
http://t.me/taucoinann
https://mobile.twitter.com/tau_io
https://www.facebook.com/taublockchain/
https://discorspam%20-%20please%20report%20%21%20d/invite/g4bVyqQ
https://www.reddit.com/r/Tau_coin
https://medium.com/tau-foundation
AUTHORS DETAILS
Bitcointalk username- Corer
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2373697
