As part of a new plan for community engagement, Alexander Guseff – the founder of Tectum, engaged stakeholders in a live session on X (formerly Twitter). In this Tectum AMA held on the 14th of June, he outlined our plans for the ecosystem in the coming months. These plans are split into two phases for a very streamlined execution.
The team appreciates everyone who joined this session, as we recorded quite a turnout. As part of our renewed efforts towards community, we are also considering those who could not join this session. In this regard, here is a report of all that was discussed.
Summary of the Tectum AMA Session Held on the 14th of June With Alexander Guseff
Alexander Guseff began the Tectum AMA session on the 14th of June by announcing the pending launch of the Tectum private blockchain with its distributed ledger and the validator node consensus for the Solana staking model.
Meanwhile, the team is working on the Tectum core UX/UI for Light Node. This will enable developers to create custom tokens with advanced features like minting, burning, and transfer. We will provide devs with the explorer source code and the API for custom UX.
Our co-founder also confirmed that the SoftNote mobile app is under development. Alexander is certain the wallet’s mobile app will drive the adoption of Tectum and other products within the ecosystem, including Tectum Emission Tokens.
The blockchain wallet application and other features listed above are part of phase 1 of the roadmap update. All the products in phase one will be launched in the “Live Mode” on or before the 1st of September 2024.
Phase Two of the Roadmap Updates
Unlike phase one, phase 2 of the Tectum roadmap update will see products launched in the ‘TestNet Mode”. This implies that the product outlined below will be released for testing to ensure they meet the required standards. Tectum will only launch these applications after completing all necessary testing.
The first product is the Tectum public decentralized blockchain. This differs from the private blockchain, as this version will be open to everyone.
When the testnet network goes live, Tectum will launch a hackathon for community testers. These developers will receive the TestNet source code on GitHub, the TectumCore.exe application, SDK, API, and all the necessary tools.
These individuals will be rewarded with $TET, as the team is already designing a compensation plan. Products in phase two are will launch in the TestNet Mode.
Developers will try out every possible feature in the public blockchain. They will generate and operate custom tokens with key pairs. Furthermore, participants in the hackathon will mint and govern the custom tokens they create. They will also mint, fill, burn, and handover custom SoftNote Bills.
One important subject Mr. Guseff emphasized is the Ivy Tree Consensus regarding $TET staking for node validators. This model will incorporate multiple factors when assigning transactions to and rewarding validators.
Instead of the number of tokens staked alone, Ivy Tree will incorporate computing power, the number of points (based on the proof of utility mechanism), and the internet connection. This approach balances the scale and gives even individuals with small holding decent chances of earning rewards.