GPS Powered Blockchain Delivers High Bandwidth Transaction Speeds
The TIM (The Internet of Money) blockchain has been engineered for the interconnected enterprise. The high bandwidth network can connect huge swarms of IoT devices while, as the “fastest blockchain,” processing information at rapid speeds. These features make TIM well suited for robust enterprise-scale applications including logistics, transportation, e-commerce, finance and, in particular, cross-industry commerce. As enterprise services expand across geographies and increase transaction volumes, however, they typically confront well-known blockchain capacity limitations.
The TIM hybrid architecture was built to scale. Sharding—the partitioning of a database to distribute the load and improve processing efficiencies—is the favored solution bantered about in the blockchain developer community to fix the Ethereum network’s scalability challenge. For the over 1,500 projects that have launched on the second generation smart contract-based blockchain, solving scalability issues is critical to delivering enterprise services. While the devs debate the merits of a sharding proof-of-concept recently released by Ethereum’s Vitalik Buterin, IOTA is prototyping its alternative sharding technology called direct acrylic graph (DAG) in Volkswagen autonomous cars. Besting them both, TIM’s hybrid solution employs both the blockchain and an Elastic DAG architecture to deliver a sharding solution with the potential to process 100,000 transactions per second.
How DOES THE DAG Architecture Deliver Super Fast Speeds?
The process of building consensus for an action on a smart contract requires distribution to all smart contact nodes, where the contract code and related data are stored. This time-consuming process could be significantly reduced if instead a smaller but secure number of nodes execute the parallel transaction processing. TIM achieves this by processing transactions within triangular regions called a direct acrylic graph (DAG) to reduce the distance between transactions, and thereby improve transaction speed. As the area of the triangle reduces the demand increases, providing the capacity to increase transactions from 100 to 100 million transactions per second. A network can have up to 10,000 DAGs transacting at 10,000 TPS. Furthermore, TIM blockchain only requires a node run one shard, whereas blockchains such as Ethereum, plasma and EOS require many shards per node.
What is the Role of Geomining?
This sharding efficiency is made possible by TIM’s proprietary geomining architecture. A network fork based on a multinode P2P algorithm optimizes the size of the network. The hybrid system dynamically shards and establishes a global consensus whereby one blockchain layer manages the forked zones while a sublayer partitions the blockchain into parts (max. of 10,000). Consensus is established every five seconds when the subzones merge. Conflicts are reduced and resources lowered by using hyperlocal dApps in regions. The process, requiring minimal mining power, delivers a very low cost per device on the network.
THE TIM BLOCKCHAIN ARCHITECTURE
HOW IS CROSS COMMERCE FACILITATED?
The hybrid blockchain has high potential to eliminate the high costs associated with the frictions and systems integration bottlenecks of legacy enterprise systems. Cross commerce trade is easier to facilitate and subchains are free, further eliminating friction. TIM expects applications to develop in finance, banking, logistics, and e-commerce. Across functions, ERP, CRM and EDI systems can interoperate. These cross commerce transactions can take place in an encrypted, secure, and anonymous system.
The TIM token is used in P2P transaction and payment services, and to activate any related enterprise services actions. A challenger node mechanism protects against double spending while a proof of belongingness mechanism protects against hackers flooding a node with a high amount of transactions.
Symbol: TIM (ERC-20)
Pre-sale: June 12-24, 2018
Token Sale: June 24, 2018
Token Rate: 1 TIM = 0.15 USD
Available Tokens for Sale: 42%
Token Supply: 1.1 billion
Hard cap: $19 million
The TIM IOT concept has been under development for two years. In February 2017, a logistics platform successfully implemented the blockchain to manage IOT devices. A simulated network was setup in January 2018. A limited test of the sharding testnet is scheduled for July followed by the public test in September. In 2019, the robust blockchain will move into new industry applications with the launch of a bankchip utility and blockchain taxi utility.
Prabhat Kumar, Founder/Developer/CEO
Vipin Verma, Co-founder
Sanjay Kumar – Legal Advisor
Prashant Singh – Business Relationships & Product Partnerships, Blockchain Taxi
Debajyoti Biswas – Software Engineer & Community Engagement
Lucas Cervigni, Crypto Venture Capital
Warren Whitlock, Content director at CoinAgenda
Sreenivas Herugu, FinTech Consultant
Ravi Sarkar, Head of Blockchain & FinTech at Hexaware Technologies
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