Tkeycoin team conducts a unique study
Blockchain technology possesses an unlimited potential concerning building a decentralized international financial system which is, by the way, one of the primary missions of Tkeycoin project. Meanwhile, modern cryptocurrencies, the main tool of the system, do not have the qualities of real money. Unfortunately, crypto nowadays is just the way of lightning-fast earnings for millions of investors. This feature along with a few more prevents cryptocurrency from evolving and massive beneficial use by people all over the world. Tkeycoin experts wanted to find out the problem solution; therefore, a number of studies on the topic have been carried out.
So that, the current situation with crypto has been analyzed from the economic, mathematical, technical, legal and even historical point of view.
Blockchain changes the consciousness and routine of our society so rapidly these days. Everything that people create using blockchain seems perfect and flawless. However, how the existent practice shows, the technology that looks perfectly theoretically, can completely fail in practice. The cryptocurrencies researches shouldn’t forget that technological revolution always relies on the best previous experience and groundworks. This can be applied to the early discoveries in cryptography and network protocols as well. All new is well overlooked old.
Mathematics researches carried out by Tkeycoin team have led to the effective solutions of important cryptocurrency problems. Such as global scalability, full decentralization, and improved mPoW protocol. The proper realization of these solutions will significantly increase the number of transactions in Tkeycoin network, no decentralization and security sacrifices though. The project specialists have compared both PoS and PoW algorithms and analyzed them as detailed as possible. mPoW has scientifically proven to be 17-23 times more efficient than PoS in terms of speed and security. Keeping these results in mind, our team has used the PoW protocol for safely protecting the network during the update. Thus the egoistic mining and double spending problems have been solved, as well as hard drive loads and electricity consumption issues.
Moreover, our researches have also proven that the high entering threshold and freeze of the required for mining TCD sum rise up the risks of system stagnation and fall in the assets prices. In order to be fast-growing, active, efficient and beneficial for users, the cryptocurrency system nowadays should have limits and block at an as low level as possible. After close analysis of conducted researches, Tkeycoin team has managed to carry out a 100% successful update of the whole system. Additionally, the project management has decided to organize ‘the Tkeycoin Development and Scientific Analysis Center’ with the financial support of TKEY DMCC. The launch is scheduled for 2019. The center specialists will undertake studies on the crypto and other closely connected technologies. The activity of the new center will help Tkeycoin project to reach desired results in a global scale 3-4 times faster. The team still has the list of ideas to implement and share – more news to come soon.