Hello all this time I will tell you about this new project, and you have opened this page so you must be a crypto fan who is looking for a new project that can become Bitcoin or Ethereum and we will tell you about this project, Taucoin and want to know how it works ? let's follow and understand the purpose of this.
What is the TAU project?
Tau project is to propose a currency that is fast, fair and safe without inflation. Users, form mining clubs, grow and secure networks by carrying out general behavior - transactions. With "Proof-of-Transaction" technology innovation, mining clubs with transaction history are incentivized by creating blocks and rewarding users. TAU aims to get higher speeds and lower total costs. TAU envisions pure mobile mining networks or Taucoin is a new project introduced by a group of people who are experienced in blockchain technology. That's right, the people behind this project know exactly how the blockchain works and it's definitely an advantage over other projects.
The concept of their project is to create a platform that serves a system that is fast, equal, safe that will not spoil inflation. That sounds impossible right? But going to tell you is POSSIBLE. Usually the idea is like bitcoin and ethereum but it is very different in other parts. If you know bitcoin or ethereum, it is used for peer to peer transactions, and mining aspects. Transaction activity is a process by miners who compete to mine blocks or process transactions in their networks. But, there is competition with this because, to mine blocks you will need resources (electricity) and hardware to achieve them. The case here is that the higher the hardware, the more likely you are to mine. But it is an expensive approach to get their coins called btc and eth (Two main coins on the blockchain).
We will explain about what
is Club Wiring?
The Club Wiring is a connection that tracks where and who is the leader of a connected mining club. What the diagram below looks like.
How does TAU Coin work?
This coin is experimenting with Proof-of-Transaction (POT). You will be connected with the leader of a mining club who will be responsible and arrange the distribution for fair shares connected to his mining club cable.
Conclusion
Are you still confused? Tokens are generated in the genesis block because each new system created by the new block originating from historical transaction costs is paid. The accumulation of these costs in the form of mining strength is equivalent to the hash strength of Bitcoin. Taucoin will be my next article program. For now, I will only give you an idea of how Taucoin works, if you are confused, it is better to read their whitepaper to find out about their system processes.
Hopefully it is useful and don't forget to follow this project and Thank you very much
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