As you know by now, Tectum Emission Token is now available on the Coinbase Wallet. However, several members of our esteemed community noted that they need Ethereum tokens in their wallets before sending TET to their friends and family. The reason is that there is not yet a partnership between Tectum and Coinbase regarding integrating the T12 protocol into their wallet.
While we had earlier explained the terms of the availability of Tectum Token in the Coinbase Wallet, the team deemed it necessary to explain things further. In addition, this is an excellent opportunity to re-emphasize the benefits of integrating the T12 protocol into an exchange or noncustodial wallet.
Understanding the T12 Token Standard in Detail
If you have been in the crypto industry long enough, you must have seen certain confusing figures. Examples include T12, TRC-20, ERC-20, ERC-721, ERC-777, and ERC-1155, etc. More often than not, you will see them when you want to send or receive cryptocurrencies from someone. While they are common, most people do not know what they mean. People tend to mistake these token standards for the blockchain networks themselves.
While they are indicators of a network, token standards are rules guiding the smart contracts that process information. They determine how specific types of tokens on a blockchain should behave to ensure consistency and compatibility across different platforms. This enables the tokens to work seamlessly with various applications, wallets, and exchanges.
Now that we have a general understanding of token standards, let us look at the T12 protocol in particular. This is the standard that determines how Tectum Emission Token, Bitcoin, USD Tether and other cryptocurrencies compatible with the Tectum blockchain should behave. In Tectum 101, we outlined every possibility of the fastest layer-1 blockchain in the world.
Contrary to what most people think, cryptocurrencies are not the only information that can be stored and transferred on the Tectum blockchain. Our network is also compatible with smart contracts. Therefore, people can mint, store and transfer other forms of digital assets like non-fungible tokens. SoftNote Bitcoin Ordinals are a very good example.
While cryptocurrencies and Bitcoin Ordinals are all digital assets, they are significantly different and have diverse principles guiding their behaviour. Even if they will be transferred on the same blockchain network, their execution needs to be properly specified. The T12 protocol helps to ensure the proper execution of commands regarding cryptocurrency transactions. This is essential as the network is processing transactions of different tokens.
Integrating the T12 Protocol: What Are the Benefits?
While token standards are different from blockchain networks, they are a reflection of the blockchain network, whose smart contracts they guide. As the saying goes, “The fruit does not fall far from the tree”. Therefore, a terrible network will have terrible token standards. Considering that Tectum is the most efficient and fastest layer-1 network, you should already have an idea of the advantages users will enjoy from this token standard.
For a better understanding, here are some of the benefits of integrating the T12 token standard into exchanges and noncustodial wallets:
- Speedy Transfer of Tokens: For the records, this protocol is built on the fastest layer-1 blockchain in the world – Tectum. Therefore, the T12 protocol guarantees instant transactions. People do not have to worry about the delayed transfer of cryptocurrencies or network congestion.
- Cheapest Transaction Fees: While the transactions are instant, users do not have to pay cutthroat gas fees. This principle also applies to Bitcoin transactions that are typically expensive. Users would pay a maximum of 0.5% to 1% of the amount they send as transaction fees. This is the cheapest cost for both blockchain and traditional transfers.
- Comprehensive Protection: Transactions done via the T12 protocol are not just secure, they are also very private. Tectum blockchain utilizes zero-knowledge proofs for processing data transfers. Therefore, the network does not have to reveal more information than is needed before approving transactions.
- More Than Just Tectum Emission Tokens: Unlike what most people may think, integrating the T12 protocol goes beyond the transfer of TET. People can send and receive Bitcoin, USDT and Tron tokens via this token standard. Even better, the token standard is not limited to the abovementioned cryptocurrencies. The team is working on expanding it to include more popular tokens that people usually sell, spend or trade.
Integrating the T12 Protocol: How to Utilize This Token Standard
As shown with Metamask and most TET listings, integrating the T12 protocol is possible across all centralized exchanges and noncustodial wallets. Users are not limited to just using the SoftNote Wallet. All these are possible because the Tectum blockchain is compatible with most other cryptocurrency networks.
There are various ways to transfer tokens through other blockchains that are not the native network of that digital assets. One is through side chains – which Tectum uses to transfer Bitcoin at the cheapest transaction fee. The other one is through blockchain bridges – which Tectum blockchain uses to transfer cryptocurrencies are compatible with the Ethereum network.