[ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]

[durzada]

TAU proposed a fast circulation currency without inflation. With the technical innovation of "Proof Of Transaction", users are inclined to make necessary transactions by sharing the future block reward.

[Parodium]

Will users not gravitate to the Club with the highest Harvest Power?

They will, but their block reward is always calculated as the relative percentage of their harvest power contribution for their harvest club. So whilst they might mint more new blocks being part of a very strong harvest club, they will also receive a small cut of the fee reward due to the strength of all the other harvest club members. Whereas if they join a smaller group, they'll mint blocks left often, but have a high relative slice of the total harvest power, and hence receive a high percentage of the block reward. This is a decision that each user will need to make.

The only sure fire way to increase your own rewards is by increasing your own harvest power.

[lewisz]

https://i.imgur.com/PWQ0T5w.png


Specifications

Consensus Mechanism: Proof-of-Transaction (PoT)

Genesis Date: August 1st, 2018

Block Time: 1 minute
Block Size: 1MB, future upgrade to auto-size depends on the bandwidth
Possible transactions in 24h: minimum 5,760,000 depends on auto-size
Data directory size: 1440mb/d

Available/Total Supply: 10,000,000,000 TAU

Block Reward: transaction fees only


TAU whitepaper: Find it HERE
TAU website: https://www.taucoin.io
TAU discussion thread: https://bitcointalk.org/index.php?topic=4685802
TAU github page: https://github.com/Tau-Coin


https://i.imgur.com/UTs1C76.png


Features

-Proof-Of-Transaction; the more transactions, the more reward
-Automatic Harvest Club Participation; no work or knowledge
 required in joining a harvest club
-Instant harvesting reward share through “club wiring”
-Near Zero Cost Transaction Fees; most of transaction fees are returned throughout the year.
-One year to accumulate weight; to prevent spam and speculation
-Environmentally friendly consensus mechanism that is secure
- Built 100% from our team (not a fork of an existing coin)
- Test driven development process focused purely on technology first
- First cryptocurrency to focus on the velocity of coin circulation
- First cryptocurrency to give no advantage to hoarding
- First cryptocurrency to have near zero cost transactions in perpetuity



https://i.imgur.com/FCaQP4X.png


https://i.imgur.com/bzflZoy.png


https://i.imgur.com/932UZbt.png

TAU - founding team

Visionary Leader-iMorpheus: A guru in computer and fin-tech, series entrepreneur in many successful internet projects. He believes digital abundance will make world hundred times more wealthy and enjoyable. iMorpheus will lead the vision and core technology development. https://bitcointalk.org/index.php?action=profile;u=2294265

Head Scientist-genie854: genie854 holds a PhD degree in mathematics. He has strong background in mathematical modelling and algorithm design. He has been interested in and working intensively on cryptocurrency and blockchain technologies. genie will be responsible for TAU's technical direction. https://bitcointalk.org/index.php?action=profile;u=2213015

Head of Marketing – Zi Ren Teoh “aka” ikealyou: Youth representative, fashions brand related background, experienced NLP practitioner, online competitive gaming expert. He will be in charge of marketing and keeping the project hip with the youngsters.  https://bitcointalk.org/index.php?action=profile;u=2285902

Strategic Advisor - Dean Pappas “aka” bobthegrownup: Series entrepreneur; Ex-Zeta Global. Over 10 years of experience building and developing teams in high growth startups. He will be advising on TAU team building and community. https://bitcointalk.org/index.php?action=profile;u=2172903

Team expansion:

We at TAU are passionate about this project and will continue to devote 100% of our time to the foundation. TAU’s mission is worthy of more team members and we are actively looking for help in our quest to ending wealth inequality. In preparation for our ICO, it will be very important to have a strong team to present to potential investors. We welcome all applicants that believe in our vision and want to be part of this for the long run.


FAQ

FAQ 1. If transaction number is the weight to generate blocks, how do you prevent speculative transactions from being used to win?

Weight is one year time accumulated on-chain transactions in a harvest club. The reward method is the transaction fee distributed to all historical transaction addresses in the club. The history will go back to 365 days; it shall make speculation and abuse costly and unprofitable. The long time makes speculators wait one year to complete their return cycle. A positive externality of speculative transactions: they will stabilize the transaction fee and guide logical fees quickly, just like derivatives make futures prices logical.


FAQ 2. Why is TAU egalitarian?

The core assumption is: rich people make less essential transactions compared to poor people. Rich people spend more per transaction, but as a group, poor people make more transactions. The reward set will tend to go to a group with more transactions, slowly moving money from the rich set to the poor set.  

FAQ 3. How do you prevent exchange attacks?  Exchanges have higher holding and transaction volume.

Most POS mechanisms are vulnerable to this. However, our novel on-chain transaction counting methods give no advantage to the high holders group. An exchanges internal transactions are not on-chain, so they will not be counted in our proof of transactions. Only money wiring among exchange addresses will be counted, so ultimately an exchange will be treated as a rich person. In POS, large stake holders receive a linear reward. In POT, collectively poor club members are much more pervasive than the rich. It is not in an exchange’s  best interest to burn lots of transaction fees back on chain for a long time.

FAQ 4. Will POT transaction fees be higher than POW and POS ones?

Through research, we discovered that POT transaction fees are not only the cost to pay for validation, but also an “investment” to secure future network income.  Your TAU harvest club will pay back fees for a year according to your shares of historical transactions. POT transaction fees have "investment" naturally built-in.  In contrast, POW fees goes to the cost of electricity. POS fees could be viewed as interest to stake holders. Both cost and interests are sunk without future cash flow.

update: 8/2 - YOU ARE LUCKY YOU SAW THIS we're opening a 24HR FACEBOOK FAUCET FOR THE LAUNCH OF TAUCOIN

GO TO TAUCOIN.IO AND CLAIM YOUR INSTANT WALLET AND COINS  

Dear TAU Team
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Please, Don't hesitate to let us know if you have any questions.
Sincerely,
Aiodex Team
Discord: https://discord.gg/RvhvdZq
Facebook: https://fb.me/aiodexofficial
Twitter: https://twitter.com/aiodex_official
Telegram: https://t.me/aiodex_official
Website: https://aiodex.com

[freepellent]

Until merchants begin to accept Tau, what type of transactions do you expect to happen?

[chixka000]

I join the questions about how it is possible to get coins of your project? I didn't find any information on ICO or bounty? You are a member of a team or bounty Manager or just wrote it? having studied the white paper, I also did not find anything surprising, maybe I'm wrong.

[Blyfla]

I am very interested to know how the state of the cryptocurrency market will affect the development of the project. I am afraid that the market will interfere with normal development.

[imorpheus]

What drives blocks growing? Time?

It seems to be natural that blockchain ledger grows along with time recording transactions, and time is the creators of order in transactions. However, on decentralized network, there is never consensus on time accuracy. Time signal as off-chain information can be fake.
Just like in human body, it is not “time” to drive biological aging, but gene mutation collectively drives aging. Gene mutation just happens along with time.
I propose the true driver of block growing, or “aging”, is transactions them-self. Most of blockchain projects are using specific time interval to create next block ranging from 10 minutes in BTC to seconds in EOS. I found the specific time is not an elegant parameter.
TAU team will look at using pure transactions to drive block grow rather than time. A formula in development will not use time but transaction fee accumulation as interval.
Our goal is to make Tau block chain grow at automatic interval, automatic size and automatic history weight window.
-iMorpheus

[Parodium]

I am very interested to know how the state of the cryptocurrency market will affect the development of the project. I am afraid that the market will interfere with normal development.

That's unfortunately true, the market is not doing great right now, but since we're not an ICO, we don't have to worry about investors worrying about losing their investment. Some of the strongest projects of all time have been community coins, we hope we can deliver on the promise that so many have already failed to step up to.

[l3pox]

I am very interested to know how the state of the cryptocurrency market will affect the development of the project. I am afraid that the market will interfere with normal development.

That's unfortunately true, the market is not doing great right now, but since we're not an ICO, we don't have to worry about investors worrying about losing their investment. Some of the strongest projects of all times have been community coins, we hope we can deliver on the promise that so many have already failed to step up to.

following this thread just because of dev's response.
interested on what will come.

[Parodium]

See the interview with TAUcoin founder David Wu on the Pakman Show!

[Parodium]

i think this project offered more good security for transaction, i will waiting for more info about his project. thank you

Thanks for the kind words, we're glad you like it 

If you would like to find out more about the project, and perhaps even discuss any flaws or benefits you see with the current design, feel free to check out and participate in our ongoing debate, where you have the chance to win $1,000 and 1 MILLION TAU!

Link to debate -> https://bitcointalk.org/index.php?topic=4907712.0

[imorpheus]

Tau: plan to use automatic block interval replacing time interval
In the NXT, 1MB block size and 60 seconds targeting base for block generation, there are two scenario:
1. Many transactions within 60 seconds arrive transaction pool, exceeding 1MB block size capacity. Tau allow miners to generate block when they collected 5000 transactions(a.k.a 1MB). Replacing the idea of counting timer C, we use transaction counters before 60 seconds. When:
(Base x transaction number counter x Weight > randomness),
that miner can generate block. Both transaction and time counter reset.
2. NO enough transaction within 60 seconds. Time counter becomes effective. When the chosen miner not able to accumulate 5000 transactions, it can generate block when 60 seconds passed.
The benefits for above design is the more transactions the faster the chain processing transactions. However, there might be malicious miners want to destroy the chain by generating unlimited transactions to keep blockchain bloating.
The way to resist this attack is to limit block number per minute, we can start with 10 blocks maximum per minute. When community feels it is too slow, club leaders can vote on chain using their weight to increase by signal transaction.
Under same spirit, we can ask club leaders to vote reduce the time interval from 60 seconds downwards on chain.
In summary, TAU will venture into remove specific time interval on block generation.
-iMorpheus

[Parodium]

Tau: plan to use automatic block interval replacing time interval
In the NXT, 1MB block size and 60 seconds targeting base for block generation, there are two scenario:
1. Many transactions within 60 seconds arrive transaction pool, exceeding 1MB block size capacity. Tau allow miners to generate block when they collected 5000 transactions(a.k.a 1MB). Replacing the idea of counting timer C, we use transaction counters before 60 seconds. When:
(Base x transaction number counter x Weight > randomness),
that miner can generate block. Both transaction and time counter reset.
2. NO enough transaction within 60 seconds. Time counter becomes effective. When the chosen miner not able to accumulate 5000 transactions, it can generate block when 60 seconds passed.
The benefits for above design is the more transactions the faster the chain processing transactions. However, there might be malicious miners want to destroy the chain by generating unlimited transactions to keep blockchain bloating.
The way to resist this attack is to limit block number per minute, we can start with 10 blocks maximum per minute. When community feels it is too slow, club leaders can vote on chain using their weight to increase by signal transaction.
Under same spirit, we can ask club leaders to vote reduce the time interval from 60 seconds downwards on chain.
In summary, TAU will venture into remove specific time interval on block generation.
-iMorpheus

Sounds like a great upgrade, love the implementation of the voting system to change the block rate. Will you be implementing club leader voting for any other changes in future?

[imorpheus]

Yes, for sure in a true DAO...

[jeraldskie11]

When I first saw this unique feature of blockchain I feel like this is the project that I really wanted. I like the 'POT' because I will gain TAU coins without doing by just holding. It is not difficult for this to be in the top market capitalization.

[imorpheus]

Thanks for the encouragement. Let’s make it happen.

[crazyer1976]

When I first saw this unique feature of blockchain I feel like this is the project that I really wanted. I like the 'POT' because I will gain TAU coins without doing by just holding. It is not difficult for this to be in the top market capitalization.

I agree with your enthusiastic reviews. But I am confused by the small number of specialists in the project team of this coin. Such ambitious plans require a large team of experienced programmers and marketers.

[chixka000]

I did not see anything special or unique in this idea. But this is true for today. I think for the team it is not enough to provide a link to the account on the forum, because it does not confirm the identity. Besides, it's Newbie.

[cryptotycoon33]

After a careful study of the TAU whitepaper I want to state clearly that the TAU project is one of the best crypto projects in the 21st century that is set to revolutionized the cryptocurrency space. Let join us hands to propagate the project to a successful completion. Thanks

[Dvorjekarri]

Is your ICO project structured as a corporate or non-corporate entity? Does your ICO fall within SEC jurisdiction? Are you SEC compliant? Where do the tokens fall on the Howey Test?