We are honored to announce two projects this summer aimed at developing the Taler project. These projects do not contradict each other, but complement each other.
We realized that for the successful development of the project it would be optimal to create and launch a token with a similar brand under Taler.
The first project - the creation of Taler Business tokens (TLB)Namely:
Taler Business (TLB) - tokens issued under this brand, initially will be focused on integration into B2B and B2C-services. "Kinship" with the "mother" Taler is emphasized using the same brand. However, another technology will be used: TLB is a token based on ERC 20. This is an international project that will be implemented from the very beginning on the territory of Belarus, Russia and Ukraine.
TLB tokens should be used in business applications. The "chip" of the project is that at the same time, the TLB tokens will be used in the secondary market similarly to the verified Talers (TLR). That is, TLB tokens will be able to "flow" through users between different enterprises. For example: a customer who has received a TLB bonus to subscribe to an online service will be able to use them to receive additional services at a hairdresser or in a massage room. And can sell or, conversely, buy, apply for advertising TLB in the newspaper.
The second project - progressive hardforkProgressive hardforks are planned for July-August 2018 and will include the transition to the hybrid mechanism of PoW + PoS consensus, an increase in the speed of the confirmation of blocks and the introduction of support for the function of "atomic swaps" for decentralized exchange with other crypto-currencies. As a result, the network of Taler will become more rapid and resistant to attacks, and the mining - people's and fair.
At present, the Taler network uses the type of consensus PoW (from English proof of work). This means that the contribution to maintaining the efficiency of the network of each miner is rewarded in proportion to the computing power of its equipment (hashrate). The disadvantage of PoW is the high power consumption and the potential threat of network centralization. For example, owners of more than 51% of the capacity of the network can, by arrangement, double the waste of the same cryptonym.
The PoS consensus variant (from the English proof of stake) differs from PoW in that instead of performing calculations, the creator of the transaction block shows that he has a share in the system in the form of a crypto currency in his wallet. This algorithm provides an advantage in getting a reward for the formation of a new block to those who have more coins in their wallet.
To support the decentralization of the network and enhance its security, the updated Taler will use the hybrid version of the PoW + PoS consensus. This will complicate the organization of attacks on the network and increase the investment attractiveness of the coin.
In order for mining to again become popular, we will several times increase the frequency of generating blocks. The time of the block, which is now 5 minutes, will be reduced to 60 seconds. In addition to solo mining, this will facilitate the emergence of new private pools, which will have more opportunities to find blocks. More pools - higher decentralization of the network.
There will also be a new kind of mining for the thaler - PoS Mining, i.e. getting a reward for storing coins in a wallet that is online. To attract new users to the network, a smooth increase in the level of remuneration in the network is planned for the first year after the implementation of the hard-core. A year later, as the number of users increases, the rewards will gradually decrease.
After the hail, Taler will support the function of "atomic swaps" (atomic swaps). the ability to interact with other foreign currency crypts. This will allow users to exchange coins of Taler for other coins, bypassing exchanges.
All this together will allow not only to increase the technological level of Taler, but also to increase its attractiveness for end users and business.
Taler's official website: taler.site
official chat in telegrams: https://t.me/TalerOfChat and English version https://t.me/Taler_English
https://bitcointalk.org/index.php?topic=2649237.1240
Denis Lavnikevich and Taler Team
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