SoftNotes, a new method of storing and transferring value, has started to attract attention recently. Tectum is a 3rd generation Blockchain network that offers a perfect solution to one of the biggest problems plaguing crypto networks today: high fees and slow transactions. Unlike other methods that use workarounds such as Layer-2 networks, Tectum takes a different approach. Combining the convenience of paper money with the power of Blockchain, SoftNotes offers the same convenience as cash transfer with cryptos.
How does SoftNotes work?
Let’s take an ordinary morning. You go to your favorite coffee shop and pay for your coffee with cash or card. After thanking the barista, you continue with your day. However, little thought is given to the process of value change. Paying with physical cash or card is so natural that we forget what’s going on behind the scenes. It is only fiat that changes hands, not the real value that backs it.
That’s essentially what Tectum’s SoftNotes do. People can simply transfer ownership of SoftNotes rather than the value they support. So, does SoftNotes have the value they claim? That’s the beauty of how SoftNotes works. Once a SoftNote is printed, it can only be exchanged if there are enough assets in a designated wallet to cover the face value.
Why use Tectum’s SoftNotes?
Tectum’s SoftNotes is already available for Bitcoin. BTC-powered SoftNotes can be used to transfer BTC from one party to another. This may seem counterintuitive. Because why not transfer BTC directly? But there’s more to it than that. For example, BTC uses first generation Blockchain technology. Using BTC, which is very popular, in daily life can be a pain. Slow, cumbersome and expensive, the Blockchain network processes only 5 transactions per second (TPS). It can also process transactions worth around $20 per transaction. This is really slow and expensive! With the next bull run waiting around the corner, the situation will worsen and put more pressure on the aging network.
What if you could transfer BTC (or any other crypto) without paying an exorbitant fee or waiting forever for the transaction to go through? While Layer-2 Blockchains like Lightening Network for Bitcoin and Polygon for Ethereum are helpful, they too will eventually become clogged. Tectum’s approach is a radical change from normal solutions. Tectum, a third-generation blockchain network, offers 1.3 million TPS with only 1% transaction costs. While this is true for their native TET tokens, there is no need to rely on TPS or block finality when using SoftNotes. SoftNotes are not transferred, but wallet ownership simply changes hands.
This “transfer” procedure is a simple process with the first party accessing the SoftNote wallet using a PIN code and initiating the transfer process. The receiving party then generates a random PIN to access and revoke the previous owner. All the while, SoftNotes and their supporting assets remain in their own wallets, untouched, unmoved, and completely secure.
TET’s role in Tectum Blockchain
An independent Blockchain brings with it an independent token, TET. While SoftNotes and their underlying assets will become the primary driver of cryptocurrency adoption and use, the Tectum network relies on TET for important functions. First and foremost, it is a means of transferring value. Underpinning the entire financial system, TET is used for gas payments, transaction costs, and other Tectum dApps. TET also plays a key role in Tectum’s creation, funding and transfer of SoftNotes. A portion of the TET on each individual transfer is also sent as passive income to both the SoftNote miner and the liquidity provider.
Other functions of TET include early exclusive access to owners, node staking, and much more. So the utility of TET goes beyond crypto. The token has been successfully listed on the premium XT exchange along with BTC SoftNotes. So if you’re interested in getting your hands on the token or related SoftNotes, now is the perfect time.
TET and SoftNotes are on the path to growth
In the world of decentralization, nothing is more powerful than collaboration. The team behind Tectum is keenly aware of this and has collaborated with several industry giants and carriers. Tectum is already partnered with Kaspa, which is ready to offer its own native KAS on the chain with KAS Softnotes. As the industry grows and realizes instant transfers with near-free fees, Tectum expects more and more networks to jump on the bandwagon. BTC and KAS SoftNotes are just the beginning.
Tectum also Mando CTIt is proud to have recruited as its brand ambassador. A full-time trader and has been in the crypto world since 2016, Mando has a keen intuition for making the right crypto investments. His uncanny ability to find the next “blue chips” has made him an icon with a secret following. Madno’s participation brings many advantages for Tectum. Not only will Mando use his influence and charm to ensure Tectum’s rise, but his involvement will also be a testament to Tectum’s deep-rooted commitment to promoting crypto.
With Bitcoin ETF approval looking like a real possibility in early 2024, it could usher in a new era of mainstream investors both small and large. This is where Tectum and SoftNotes can really shine. It offers everyone the convenience of traditional financial investments and money movements without compromising the security and financial advantage of Bitcoin. In fact, this is better than the old derivatives because, after all, the notes are backed.
Disclaimer: This is a sponsored content and press release, and what is written here does not reflect the views of the Kriptokoin.com team. High risk of loss should be taken into consideration in leveraged transactions and cryptocurrency investments, and extensive research should be done before investing in any platform. To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!