It is no longer news that Tectum is the fastest blockchain in terms of the number of transactions per second that it completes. While this is common knowledge, only a few members understand how the T12 protocol can complete 1.3 million transactions per second.
Considering this knowledge gap, the team chose to teach people about how the entire mechanism works. Our community members have been the driving force of this project. Therefore, it is essential to arm them with accurate information.
What is T12?
T12 is the token standard for holding and transferring cryptocurrencies on the Tectum blockchain. This is the aspect of the network that oversees the ownership and usage of a specific type of asset known as cryptocurrencies. In simple terms, the T12 protocol ensures that your Bitcoin, Ethereum, USDT, and other crypto are delivered to the correct receiver on the Tectum blockchain.
As a blockchain, Tectum is an IT architecture for holding and sharing information. The T12 protocol is just one segment of this system, as Tectum is not just limited to sending and receiving tokens. A few weeks ago, we launched the SoftNote Bitcoin Ordinals, which allows people to store unique identifiers on a Satoshi like an NFT.
Although the asset will be held on the Tectum blockchain, the protocol will be different from T12. The reason is that SoftNote ordinals are different from cryptocurrencies. Therefore, the rules guiding these digital items cannot be the same.
How Do Most Blockchain Networks Process Transactions?
While the protocol is different, it still utilizes the efficiency of the Tectum blockchain. Therefore, we have to reinstate that the efficiency of this protocol is down to the network itself. That said, let’s understand how the T12 protocol achieves the milestone of 1.3 million transactions per second.
To properly grasp this process, we need to examine how blockchain technology works. The process begins with a user initiating an on-chain transaction for a Bitcoin payment or data transfer. The request is processed according to the consensus mechanism of that specific blockchain.
To ensure security, blockchain networks must properly authenticate transaction requests before giving approval. The process of approval is where the problem arises. One thing most blockchains do is that they treat every transaction request the same and try to process them the same way. This causes people with “smaller” transaction requests to wait for longer than necessary.
However, most blockchains do not just process transactions in this manner for the sake of it. These networks typically have multiple nodes on the same layer. It is like having the same lane for cars, buses, and bicycles. No matter how wide the lane is, one vehicle can pass through at a time.
How Does the T12 Protocol Achieve 1.3 Million Transactions Per Second?
Instead of a single node, Tectum uses a three-tiered node to process transactions. The system then sorts out transactions according to the volume of data. While the master node handles the heavy data, there is an upper level that communicates with the hashes.
Instead of putting buses, cars, and bicycles in the same lane, Tectum blockchain clearly segregates them. In addition, the Tectum blockchain hashes transactions on a database that enables faster retrieval of data. This means that the network does not have to begin the process afresh every time people initiate similar transaction requests.
For a better understanding, this process works similarly to drinking water with reusable bottles as against disposable ones. You can easily refill the bottle when next when you want to drink water. This is far more efficient than having to purchase a bottle every time you need a drink.
Besides the general blockchain’s mechanism, the T12 protocol also has another measure to ensure further efficiency. SoftNote Bills are like “mini wallets” that allow people to store their cryptocurrencies in smaller denominations. To spend a SoftNote, users simply need to transfer ownership to the “new owner”.
This is similar to storing a message in the draft of your email and giving someone else your login password. Instead of having to send the mail, they can simply access your mailbox to read the message. In this case, the draft (crypto) is the only message inside that email address (blockchain wallet).
What Are the Benefits of the T12 Protocol Achieving a Speed of 1.3 Million Transactions?
There are several benefits that come with using the T12 protocol, with a speed of 1.3 million transactions. These incentives are particular for people who trade crypto like Bitcoin and Ethereum, which are notorious for high gas fees.
As stated in numerous articles, people who send Bitcoin using this network will pay zero gas fees. These expenses are the compensation for miners or nodes for authenticating and approving transactions. The gas fees are so important that it can lead to network congestion during peak times.
The transaction fees depend on various factors, including the time and volume of transactions. If a sender makes a request a few minutes ago and their transaction is not processed before a spike in traffic, it may lead to further delays. This is because the new requests will offer higher gas fees in line with the current network demands.
Common sense dictates that miners will work on processing the transactions with higher fees. The reason is that it promises a higher and more rewarding compensation for their efforts. While this benefits the miners or node operators, users will suffer delayed transactions.
With the T12 protocol nested on a blockchain that completes 1.3 million transactions per second, people do not have to worry about network congestion. Instead of charging the average person who sends Bitcoin or Ethereum, Tectum only demands a meager 1% commission from merchants. This money is used to compensate individuals who mint SoftNote or add liquidity to the bills in circulation.
Besides cheap transfer fees and speedy transactions, the T12 protocol having a 1.3 million transaction speed per second is also essential for security. One way hackers try to bypass security is by overwhelming the system to make it collapse. Even without a cyberattack, network overload may lead to downtime that slows down or halts the transfer of data.
In turn, this means operations cannot continue as needed. This loss of time cannot cost the individual, business, or institution using that blockchain network to transfer tokens or information.