TAUT: The Firstborn of POT – Albert Nakamoto
The Proof of Transaction’s future’s history
INTRODUCTION
Crypto enthusiast have been used to mining using POW and POS coins. No wonder because it gives them security and convenience. All they have to do is purchase the machine to do the job or allocate a sum of funds to better get the job done. This is what the common elite has been doing so far but not for the common public. They actually have no choice to “mine” these impractically usable coins and use them for their benefit. POT or Proof of Transaction aims to give the POWER to the common masses and that the elite cannot abuse it.
STATEMENT OF THE PROBLEM
As mentioned above, the usual method of crypto mining is proven not to be common-user-friendly. It has lots of limitations and problems for the general public.
- High cost of mining — To consume power in POW is to consume both CPU power and electricity which is not strategically economical.
- Power abuse — With the few able-bodied individual or companies set to have the ability to 51% “attack” or “control” the network with decision making and double spending, the network suffers a lot of injustices mostly due to the common public interest.
- High cost maintenance — With the high start up cost for these coins, high maintenance is necessary to keep up with the increasing demand to keep their power. This conditions promotes the unfavorable “dumping” situations we have. Miners have to unload their coins to sustain control of the network.
There are still many of the supposedly problems these POW and POS coins hold but you can check it for yourselves. Others have already found it and dumped mostly of their coins.
SOLUTION
Proof Of Transaction is the mining solution to these problems stated above and such. In POT, one does not need an expensive mining equipment or to hold a large number of coins.
Neither CPU power nor electricity nor holding a fairly huge amount of coins will be sufficient for more miners and mass adoption. By doing transaction, which everyone can easily do, will the mining power increase. This protocol will allow any common person to start mining.
CONCLUSION
TAUT and its Proof of Transaction protocol will greatly affect people in many various ways. Being the first in the experiment and implementation of the POT protocol, it will surely strive higher towards the goal of a true decentralized coin by allowing more people to join the mining process with less expenses and more of participation by transaction making.
You can donate to my TAUT address: TBBK3QpGzmunqgQ2aBm9LEH6Na9Q7d6qPA
Published at Sun, 11 Aug 2019 16:19:10 +0000
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