Is Tectum Legit? We have compiled this article so as to address some questions that our community has raised on the basis of released information on the internet from non-Tectum-related sources. Due to the fact that Tectum takes its community’s perspective seriously and we emphasize an approach of transparency, this article will address the raised issues below.
The Crypto world has seen the rise and fall of several tokens that all seemed promising at first glance. A handful of these cryptocurrencies come into the market with technologies that are identical or sometimes inferior to other tokens in the industry. On the other hand, we have some coins that have both solid technologies and unique value propositions for investors. A good example of a project like that is Tectum.
What is Tectum (Tectum Review)?
The Tectum network protocol was developed to save cost and be a quality build for easy customer usage. The project is a distributed ledger protocol with an ecosystem that consists of a XFA authentication application, the token (TET), wallet, blockchain, and Softnote – a combination of digital and physical currency. The project has been a success in the world crypto market because of these components.
Below are brief explanations of these components, how they make up the Tectum project, and answer the critical question; Is Tectum legit?;
Softnote Wallet:
Unlike other wallets or network protocols, this wallet is capable of transferring and converting other crypto tokens at low fees. It is designed to be instantaneous, highly secure, and cheap without dealing with redundant settlement problems.
Tectum Token:
With a hard cap of 10M, this token will be listed in the 4th quarter of this year (2022). The tectum token (TET) is more inclusive than typical tokens of other blockchains. It enables its holders to obtain some products like the TEC coin and the Tectum Softnote. The TET presale is still ongoing at a price of $3 per token and you can be a part of it. The main utility of this token is for minting Softonotes
Tectum Softnote:
The tectum Softnote is an innovation (smart contract) that relies on the principles of a digital and physical currency together. It is essentially a digital lockbox that carries value across the network. These values may be tokens of other blockchains like BTC, USDT, and many more. The future applications of the Softnote will include retail and Point of Sale (POS) transactions. As the flagship product of the Tectum community, Softnote makes it easier for merchants to accept Bitcoin which resolves its long-held issue of scalability. It presents the perfect BTC scaling solution since it’s fast, anonymous, and operates with zero hidden fees.
Quantum-proof or XFA (Three-factor) Authentication:
This application is the Tectum blockchain’s response to the increasing threat of insecurity to digital assets. The XFA app provides impregnable protection for payment methods by combining machine and human logic to provide a quantum-proof authentication before login access can be granted. That way, it’s basically impossible for hackers to get access to the encrypted pin.
Tectum Blockchain:
The blockchain is designed to be fast, secure, and effective in more ways than the more popular ones. Tectum network protocol is an overlay type which means that tokens and other products of separate blockchains (BTC, ETH) can be operated on it at a minimal cost.
Tectum Review
Are executive roles available on Tectum’s team page?
It has been stated that Tectum does not make its executive roles within its business clear on its website. This is an inaccurate statement as all positions of employment are detailed on Tectum’s team page with biographies included: Team
Is Tectum listed on popular crypto websites?
It has also been argued that Tectum lacks credibility as it is not listed on popular cryptocurrency platforms; an extensive but not exhaustive list of Tectum reviews and listings on popular cryptocurrency websites can be found below:
Is Tectum being run anonymously?
The tectum project is owned and run by Crispmind, Ltd, and a list of all owners and employees can be found at https://tectum.io/team/. Within each team member’s page, there is also a link to the relevant team member’s LinkedIn for authentication.
Are stock images being used for Tectum’s team members?
As addressed above, no stock images have been used for Tectum’s team members. However, due to the included LinkedIn profile links in the team’s biographies, it can be demonstrated that the photos accurately reflect the employees.
Do Tectum employees reveal their actual location?
The location of Tectum’s employees can be demonstrated from their Linkedin profiles in their bio.
If Tectum’s Blockchain has been in development since 2012 why was the website only registered in 2019?
The tectum blockchain was developed in 2006 however with the private purpose of fulfilling a software and payment system for a particular private company. In 2017 however, CrispMind acquired the blockchain as intellectual property in the state that it currently was. It has then been developed further by the CrispMind team and therefore became trademarked and marketed in 2019 for the purpose of Tectum’s own project ambitions.
Does Tectum inaccurately claim to operate out of Chicago?
The Tectum team is a global team arranged as such so as to help accomplish the aim of mass adoption of cryptocurrency. However, when the project began, both founders were located in Chicago. Therefore, it was incorporated there. One of the founders still lives and works in Chicago, and consequently, the incorporation remains. Tectum has since grown and thus has also become incorporated in Ireland, the UK, and the Bahamas.
Does the TET token have any real-world value? For example, can it be used in an exchange?
It has been asserted that Tectum is selling a token without any real-world value. This statement, however, is negligent of the majority of cryptocurrency projects. Such projects typically go through an ICO/presale period before being listed on an exchange. This can be stated regarding successful cryptocurrencies such as Solana, Aleph Zero, XRP, Cardano and Polkadot. During presales, the real-world value of such currencies is determined by the number of sales at a given presale price. Tectum is currently in its ICO/Presale stage. All Tectum’s presale stages to date have completely sold out, and therefore it can be concluded that there is a demand for the TET token at its current presale value. Furthermore, Tectum has signed a contract with BitMart, a significant exchange, and will be listing its token on their platform, as can be demonstrated by the following media statement on Twitter: “…#BitMart will list @tectumsocial $TET soon!…”
Does Tectum have any products or services?
It has been stated that TET has no actual use case or service, and therefore Tectum does not sell any real products or services. The TET token allows users to mint SoftNotes which are digital representations of Bitcoin and other cryptocurrencies and are Tectum’s flagship product. SoftNotes are revolutionary in the sense that they enable cryptocurrencies to be instant and free. Without TET, it is impossible to mint the SoftNote product. Minting of SoftNotes is currently live in beta mode and can be done so using Tectum’s telegram application which can be found here: Tectum interactive assistant
Do I have to pay to withdraw my cryptocurrency from the Tectum Network?
Tectum blockchain runs numerous other cryptocurrencies on it, including Bitcoin and USDT; it has been claimed that Tectum charges users a release fee on these cryptocurrencies. This is quite true, but currently, this Fee only applies to BTC withdrawals and is very low when compared to withdrawal charges on other custodial crypto wallets/exchanges. The Tectum Fee is used to mint TEC which is used to incentivize Tectum nodes that help facilitate transactions on the Tectum wallet to be instant.
Does a financial body regulate Tectum?
Tectum is currently in its ICO stage, selling a utility token just like most other cryptocurrencies before they launch on an exchange. Due to the fact that utility tokens are not considered securities by the SEC or FCA, there is no current legislation for regulating a utility token. Tectum’s legal audit can be found at the link below, which demonstrates that TET is a utility token and therefore does not come under regulatory legislation: TET Legal Opinion
Does Tectum run a pyramid scheme?
Tectum runs a referral program that cannot be classified as a pyramid scheme. Pyramid schemes are sales programs that require the salesperson to buy a sales license before they can sell a product. The Tectum referral program functions just like all the other major cryptocurrency referral programs and many digital products. A user is supplied with a referral link, and if they refer another member, they will get a 10% bonus on any purchases, and the recipient of the link will receive a 5% bonus.
Does a user have to deposit funds before they can use their referral link?
No, a users referral link is supplied to them as soon as they sign up for a Tectum wallet and will function without a user purchasing any of Tectum’s products or tokens
Does Tectum make it clear who owns the company?
Two co-founders are the owners of the Tectum project, Tom Nitschke and Alex Gussef. Both owners are listed as business owners on Tectum’s team’s page, and Tectum is completely transparent regarding this.
Does Tectum disclose the criteria for regional leaders in your referral program?
In Tectum’s referral program, there are also regional leaders who earn an extra 5% on all referrals. Tectum has not publicly published the criteria for this position, nor have they ever failed to disclose such. Regional leaders are merely tectum employees who function as sales representatives or brand ambassadors.
Does Tectum charge up to 500,000 USD for SoftNote licenses?
Tectum’s SoftNote licenses are sold to TET holders. Therefore, TET holders can purchase as many SoftNotes as they desire. Therefore, a high amount of SoftNotes can be purchased, just as is the case with numerous other digital asset products.
Does Tectum promise a 300% APY on SoftNote purchases?
Tectum, at one point, advertised predicted ROIs on SoftNote purchases; however, this was based on very moderate assumptions about the circulation of Bitcoin on SoftNotes. A minter receives 20% of any fee paid by a merchant every time the SoftNote that they minted goes through a merchant context. Therefore, in comparison to the TET spent on a SoftNote pack, if BTC SoftNotes circulated to the extent that BTC currently does, a predicted ROI would be much higher than 300%. Nevertheless, for the purpose of clarity, Tectum no longer lists a predicted ROI on its website.
What Distinguishes Tectum Blockchain?
Unlike the other common blockchain projects, Tectum operates using “Hashdrive” which is a signature management algorithm with record-breaking speed. This algorithm gives the project the ability to offer fast event updates throughout the blockchain without accumulating large chunks of data on the nodes.
The tectum project is designed to store some components called ‘hashes’, which are traced back to the stored main data at a reduced level, instead of reserving the data directly on the blockchain. That process is called hashing.
The distributed ledger protocol is the fastest blockchain platform because it uses hashing to single out the large data that are related to transactions from the main pipeline. The blockchain hashes, encrypts, and signs the batches at the end of each transaction and then archives it. This helps the algorithm to verify the data that is event-related and make it available based on the level of accessibility given to the separate modules that are transaction-related.
For practicality, tectum is the best blockchain project for running lightweight, high-volume apps, particularly for storing records. You can employ the tectum to effectively acknowledge and reserve billing, legal, municipal, and logistics records. There’s also the provision for an IoT(Internet of Things) app on the project so it can be used in monitoring system status and tracking geolocations of devices.
How does Tectum work (Tectum Review)
Tectum blockchain has three levels of nodes and that’s responsible for its highly advantageous speed. The heavyweight data is assigned to the master level node, while the upper-level node uses hashes to direct communication. Its metadata is conducted at the midlevel nodes and their purpose is the storing of hash stacks that are related to unique types of events.
You should invest in the tectum crypto as it is suitable for tasks like inventory management and all kinds of record keeping. It is designed to have high speed and is capable of handling multiple streams of data. Other blockchains can get costly in no time when you use them for anything bigger than simple transactions.
For example, it costs more than necessary to run algorithmic three-body smart contracts on blockchains. What makes Tectum superior to projects that fall short of such a task is that the blockchain is not used to storing all kinds of data, instead, it references the data using hashes. That way, the hash is used to retrieve the data whenever you need it and it comes with added information such as modifications, edits, and views that the retrieved document has ever had.
Even if you lose your server or computer, the original data is still preserved through the Hashdrive algorithm. Although it’ll be slower without the original data stored on the server, you can retrieve any data in the blockchain by discovering its stack and getting its block information off the master-level nodes.
Is Tectum Legit? (or a Crypto Scam)
The Tectum project is not a scam and it is a completely legit cryptocurrency. The team has been KYC’d by CoinScope, their token has been audited by Soken Law, is listed on CoinMarketCap, and is officially announced to be listed on the BitMart exchange.
You can check out our website, tectum.io, and read more about our team which has been in the technological space for decades. The blockchain is an impressive end-to-end multi-product network that guarantees high-speed and unbreakable security to the user. The future of Tectum is promising and it’ll be interesting to see how Tectum crypto will grow into a go-to project with more real-life integrations.
*If you have any further questions about the issues raised in this article or any further concerns, you have, please do not hesitate to contact Tectum at support@tectum.io or follow us for more on our social channels.