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Author Topic: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]  (Read 7556 times)
Sone11
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September 07, 2018, 09:45:49 PM
 #261

We are still focusing on technology development of mainnet, wallet, auto block interval and on chain voting. No price will set for TAU from foundation angle. We love to work with all partners to use TAU and exchangers to list TAU. We want to do a good infrastruture job, currently not plan to find specific utility and do exchange by our self.

I think yes the utility would really come along when you did a very solid structure. But do you have anything in mind for the purpose in the real world economy? But this is an open one that can be used as well in tech platforms I think.
Tau is designed as fast circulation crypto currency. We remove the burden of hardware arms race, block generation time interval constraints, off chain mining club. It is a brand new blockchain to support open use.

Those are the reason why I support this project. New concept is very much needed in this time of crisis to still maintain the integrity of the field. Just don't forget to make it as simple as possible for the mass to adopt easily.
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yasirkifli
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September 08, 2018, 10:14:22 AM
 #262

I am waiting to read more details about this POT and its value to the community which I need more insights about. When is your whitepaper ready?
Ted King
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September 08, 2018, 11:32:48 AM
 #263

I agree, bitcointalk is an excellent platform, where there is a large community of crypto-currencies, but you will not use social networks other than FB?
We will use social network when we have initial momemtum on bitcointalk. Using FB is largely to prevent robots to get coins. Google accounts and many more will come soon.
I like that the team has not only an excellent idea, but also actively promotes its project on the Internet. A very good decision to use FB, but will there be other possibilities in the future to create a wallet?

JoelFa
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September 08, 2018, 11:34:34 AM
 #264

It'strue that in todays market it's very hard to have an original idea, it's just overpopulated. But you can have an original approach to the same idea. That can be the difference.
Miles123
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September 08, 2018, 12:43:16 PM
 #265

In this project, they are using POW and POS to help the world of blockchain today. It aims to secure the network of the users. You can get a huge profit in the future and you'll become wealthy. Everyone can trust this.

Sone11
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September 08, 2018, 12:46:54 PM
 #266

It'strue that in todays market it's very hard to have an original idea, it's just overpopulated. But you can have an original approach to the same idea. That can be the difference.

Yes perhaps but it's now a race of who will do those ideas. So it's a matter of execution. We'll see how TAU will do to keep up especially in this hard times. We have to rely on the market sentiment and the power of this project execution and strategy.
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September 08, 2018, 05:50:59 PM
 #267

Is it really necessary for a club leader to run a full node to participate in mining? How many nodes to run a full node?

ENCRYBIT.IO - Private Sale is Live! (https://encrybit.io/)
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gusaniga
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September 08, 2018, 05:55:31 PM
 #268

Everything looks amazing! Really excited about this project, and as you saw I've already joined it quite some time ago. Definitely looking forward to seeing that this plan's demo platform in action
imorpheus
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September 08, 2018, 09:53:05 PM
 #269

I am waiting to read more details about this POT and its value to the community which I need more insights about. When is your whitepaper ready?
https://www.taucoin.io/whitePaper/TAU%20White%20Paper%20v0.1.pdf

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September 08, 2018, 10:33:00 PM
 #270

the new orientations in technology brings about a different approach to the way things are been done and also the pace at which we concluded desired or required task with the aid of this deployed technological innovation skills.

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September 09, 2018, 12:57:01 AM
 #271

Foundation weekly update sept 9th.
https://www.reddit.com/user/wuzhengy1018/comments/9e8tc7/tau_foundation_weekly_update_sept_9th/?st=JLU5DNXR&sh=68f7a8d5

Miles123
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September 09, 2018, 01:04:50 PM
 #272

This project helps the users to pay a lower cost in their transaction and it will make the process faster. You can participate here without any knowledge because anyone can use a node on any devices. They will secure your network.

Miles123
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September 09, 2018, 01:15:01 PM
 #273

Tau will bring the fairness for everyone and it is the first proof of transaction. They will not favor any wealthy participants, instead supporting each other. This is environmentally friendly to all networks and it will increase the cryptocurrency circulation.

charingane01
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September 09, 2018, 04:59:50 PM
 #274

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JimRa
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September 10, 2018, 06:19:49 AM
 #275

Open API means that developers and will have access to data and app and will have ability to develop on it and from it further to make additional features , other applications that communicate with this one to make a better solutions and similar things like that.
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September 10, 2018, 11:03:05 AM
 #276

Open API means that developers and will have access to data and app and will have ability to develop on it and from it further to make additional features , other applications that communicate with this one to make a better solutions and similar things like that.

And if the past is any great indicator for the future, an open API will always be updated and improved to meet the modern standards for blockchain cryptocurrencies operating with API. I think an improvement could be if  the API had a thread for ideas and concerns where developers could read and think of new things for the api.

eleise
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September 10, 2018, 02:51:34 PM
 #277

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
 Grin

Wilson.Protar
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September 10, 2018, 03:04:01 PM
 #278

Could you please let us all know how you plan on meeting security challenges such as hack attack or ddos? As I know this is the main problem of 21st century.
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September 10, 2018, 11:01:40 PM
 #279

Could you please let us all know how you plan on meeting security challenges such as hack attack or ddos? As I know this is the main problem of 21st century.
Please check out our white paper on attacks. Ddos is not a problem for any permission-less blockchain system.

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September 11, 2018, 05:37:40 AM
 #280

What will be the commission for internal transactions? To implement the project, it is important to have a competitive development strategy.
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