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Author Topic: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]  (Read 9077 times)

Offline EVO

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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





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











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
 ;D


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Offline EVO

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #1 on: August 29, 2018, 04:54:24 PM »


CLICK THE IMAGE TO PARTICIPATE
« Last Edit: August 29, 2018, 06:06:08 PM by EVO »

Offline EVO

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #2 on: August 29, 2018, 06:06:34 PM »

CLICK THE IMAGE TO PARTICIPATE ON THE AIRDROP!
« Last Edit: August 29, 2018, 06:08:49 PM by EVO »

Offline andriyana

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #3 on: August 30, 2018, 07:19:05 AM »
how much is the TAU coin price ... $
how many coins to sell (ICO)

Offline CryptoTimex

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #4 on: September 06, 2018, 04:21:32 PM »
Guys,this is a very promising project.We are participating in a project that will use technical innovation "Proof of Transaction''
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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #5 on: September 06, 2018, 04:26:12 PM »
Hello. I am waitin for your ico, that begin in october, right? And planing to take part, like investor too. Cryptomarket have a hard time, I hope you will get the enought money.
   

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Offline EVO

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #6 on: September 06, 2018, 10:58:44 PM »
how much is the TAU coin price ... $
how many coins to sell (ICO)

We do not set our own price. TAU ICO will be presented in a form of reversed Dutch Auction, where the market decides the price everyday. (Similar to EOS)

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #6 on: September 06, 2018, 10:58:44 PM »


Offline EVO

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #7 on: September 06, 2018, 11:00:11 PM »
Hello. I am waitin for your ico, that begin in october, right? And planing to take part, like investor too. Cryptomarket have a hard time, I hope you will get the enought money.

Yes, We do not set our own price. TAU ICO will be presented in a form of reversed Dutch Auction, where the market decides the price everyday. (Similar to EOS)

Offline Dinid

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #8 on: September 07, 2018, 09:18:08 PM »
Yes, We do not set our own price. TAU ICO will be presented in a form of reversed Dutch Auction, where the market decides the price everyday. (Similar to EOS)
Nice steps, Dev 👍
 Looking forward for this. Let them set the price.
And the core Dev team just need to focus on the development, such as real use case implementation of this project.

Who knows this project can be like ripple or stellar.

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #9 on: September 08, 2018, 06:13:54 AM »
Hello Dev, I already registered on taucoin website. I joined using facebook account, then I got web wallet + private key.
One question.
Later (if) when official mainnet really launched, will my wallet that I already got today, will be tracked and updated automatically, dev ?
I mean, the wallet address, private key, and balance amount will be same? Thank you

Offline Dilerium90

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #10 on: September 08, 2018, 08:24:12 AM »
Hello. I am waitin for your ico, that begin in october, right? And planing to take part, like investor too. Cryptomarket have a hard time, I hope you will get the enought money.

Yes, We do not set our own price. TAU ICO will be presented in a form of reversed Dutch Auction, where the market decides the price everyday. (Similar to EOS)
Thank's. I understood. Let's hope that the market will resume by this time and go up. Then the chances of success will be higher. I like the advertising of the project. I'm sure he has a good future.
   

██████████████     ████████████    █████          ███              ██████              █████           ███          ████████▀    ████████▀    ███        ███
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.EXCHANGE MADE SIMPLE.
                                                                                                   
           
                                                                                                 

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Offline Elevteros

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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #11 on: September 08, 2018, 08:59:34 AM »
In general, the team seems to me good and the project seems to be interesting, I think it will be a success!
                 
                 
                 
                 
                 
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Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #12 on: September 08, 2018, 09:05:10 AM »
Hello. I am waitin for your ico, that begin in october, right? And planing to take part, like investor too. Cryptomarket have a hard time, I hope you will get the enought money.

Yes, We do not set our own price. TAU ICO will be presented in a form of reversed Dutch Auction, where the market decides the price everyday. (Similar to EOS)
Thank's. I understood. Let's hope that the market will resume by this time and go up. Then the chances of success will be higher. I like the advertising of the project. I'm sure he has a good future.
Most likely to wait until the market will recover will not be small, it remains to be hoped.  that at least by the end of the year, positive growth will begin!
                 
                 
                 
                 
                 
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We offer the most profitable and 
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Offline CryptoTimex

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  • 🔰 FERRUM NETWORK 🔰
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    10 Posts First Post Sixth year Anniversary
Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #13 on: September 08, 2018, 08:30:09 PM »
Very good support in Telegram chat and very interesting project.I hope that the community will support your project
Ferrum Network •   ANN • Bounty • Website • Telegram
The First High-Speed Interoperability Network for Real-World Financial Applications

Offline Dinid

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    10 Posts First Post Fifth year Anniversary
Re: [ANN] TAU:The Active Unit | The First Proof-Of-Transaction Coin [POT]
« Reply #14 on: September 08, 2018, 10:44:07 PM »
Very good support in Telegram chat and very interesting project.I hope that the community will support your project
Agree with bro Rottmayer. The admin actively moderate the group chat very well.
That must be done, to attract members trust and interest .
So the network can grow faster.

 

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