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

[Miles123]

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.

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[Miles123]

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]

RESERVED FOR ARABIC TRANSLATION.

[JimRa]

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.

[goldkingcoiner]

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]

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  

[Wilson.Protar]

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.

[imorpheus]

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.

[Camus]

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

[imorpheus]

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

The current commission is 250 itau. When more transactions and miners joined, this will increase.

[rhomelmabini]

Does the platform for making wallet in TAU be only through Facebook? Do you plan to make it more in the coming months or years on other social media platforms on making wallets?

[Gardner.Midi]

Is the private sale bonus fixed,or it depends on the amount invested? How do you plan to attract merchants to use the tokens?

[imorpheus]

Does the platform for making wallet in TAU be only through Facebook? Do you plan to make it more in the coming months or years on other social media platforms on making wallets?

We will add google as well. Not sure about other social media yet.

[imorpheus]

Is the private sale bonus fixed,or it depends on the amount invested? How do you plan to attract merchants to use the tokens?

Tau never did private sale. The needs for merchants is they need more customers that is many people holding a coin. Number of users is everything, with that merchants will find way to participate. Our current priority is to increase users base through massive bounty and tau/btc exchange.

[Ted King]

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

The current commission is 250 itau. When more transactions and miners joined, this will increase.

And what if the price of a coin increases? The situation is likely then that the transaction fee will be very expensive.

[imorpheus]

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

The current commission is 250 itau. When more transactions and miners joined, this will increase.

And what if the price of a coin increases? The situation is likely then that the transaction fee will be very expensive.

When transactions flood, block generation time is no longer associate to 60 seconds, it will be automatically switch to every 5000 transaction per block. This will keep transaction fee low. Automatic block and time internval is our way to implement the more transaction the faster and lower cost vs POW coins the more transactions the higher cost in energy.

[SeanW]

Hello,  Hm, sounds interesting. I will definitely consider this for my future investment. J
I'll probably have some questions later when get to know closer with the whitepaper...

[Miles123]

Tau is a smart money that encourages everyone to join here. You can earn their tokens by participating their bounties. Invest and earn more to get that goal in the future. They promise that the fees will be always stay low.

[rhomelmabini]

Does the platform for making wallet in TAU be only through Facebook? Do you plan to make it more in the coming months or years on other social media platforms on making wallets?

We will add google as well. Not sure about other social media yet.

Okay. Thanks for the response but hoping more social media platforms will be added so soon.

[FeiibuuMar]

Can't wait for the alpha release of the platform. It will help the business a lot, because it will show what the true potential this project has. As already said there is massive money in the intermodal industry and they really need solutions for their logistic problems. If done right (and I beleive in the team) it could be a revolution in that field.