Some of the major weaknesses of the Bitcoin Crypto lies in its high cost of anchoring data, scalability, and time inaccuracy. The sole purpose of Tierion’s creation is to resolve all these flaws. It makes use of Blockchain in order to enable the storage, sharing, and the verification of huge amounts of data by its users in a single and fast transaction. The Crypto works with well over 500 apps in the provision of its chainpoint proof data base for the anchoring of data.
In the year 2015, Tierion was founded by both Jason Bukowski and Wayne Vaughan. Vaughan is credited with the creation of one of the first platforms for SaaS marketing automation, while Bukowski has over 20 years’ experience in the development of scalable software.
Tierion Benefits and Advantages
Chainpoint proof protocol is at the core of Tierion’s technological infrastructure. The protocol is especially useful when a user adds something in the Tierion’s data store. Tierion’s API and an open standard known as ChainPoint anchors the data to the Blockchain in order to generate a timestamp proof.
Since it has an architecture that is highly scalable, ChainPoint is equipped with the ability to produce millions of proof per second. It actually scales with more usage- with throughput increasing as nodes join the network. It is also designed to remain free or at least, inexpensive for the participants of the network.
In order to add accuracy to its proofs, ChainPoints collects data from Network Time Protocol (NTP) servers and NIST, which is the national institute of standards and technology. While linking anchors to both the Bitcoin and the Ethereum Blockchain.
The Cryptographic version of any data is known as a hash. Soon after its submission of a hash, the timestamped proof is immediately processed. It also immediately anchors both the Ethereum and the Bitcoin Blockchain.
Since the network is linked to a separate, global calendar, the authenticity of the data can be independently audited and verified by anyone on its network. That is something that is being done by the nodes on a periodic basis. They do this by generating and receiving partial proofs, by verifying hashes, and more. with data centres that are located on the network across the globe, the chances of a downtime are reduced to almost zero.
There are majorly two functions that the Tierion Network Token (TNT) will serve. The first one is that it serves as an incentive for network participants to operate and secure the Tierion (TNT) network. The second function is that it is a method of settlement between parties on the Tierion network in order to access network resources.
Tierion (TNT): How and Where to Buy
Tierion (TNT) started the supply of its token in August 2017. It is available trading on a lot of Crypto exchange platforms such as CoinCodex, HitBTC, CoinClarity, and Coinbase. Also since TNT is an ERC20 token, it can be stored on any Ethereum Wallet such as Mist, MyEtherWallet, and lots more.