HashNET is a scalable, fast, secure, and fair decentralised- beyond blockchain project, leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positive characteristics of a blockchain technology while increasing throughput to more than 200,000 transactions per second. Network is using Proof-of-Stake with masternodes, which eliminates the need for a massive energy consumption.
HashNET is scalable. Scalability is the biggest problem in the blockchain technology space. Projects like Bitcoin and Ethereum are simply not capable of transferring a large number of blockchain transactions in a short timeframe. HashNET, on the other hand, was built to support over 200,000 transactions per second, compared to Bitcoin, which can only manage 7 transactions per second. Also, even with a large increase in number of nodes, HashNET network will be able to process all transactions in a matter of seconds.
HashNET is fair, because no individual can manipulate the order of transactions. With HashNET, there is no way for the individual to affect the consensus order.
HashNET is fast, because it doesn’t require miners to create a chain of blocks in order to record transactions. This process of creating a chain of blocks is very slow and it consumes a large amount of electricity. HashNET uses Proof-of-Stake algorithm combined with masternode to reach distributed consensus. The process of receiving and recording occurs as soon as transaction takes place, which allows the final confirmation to be ready instantly.
HashNET is 100% secure. HashNET can’t be hacked due to the power of distributed algorithm, which is responsible for reaching consensus within the nodes. Also, combining Proof-of-Stake and masternode creates transparency, since the participants are compensated for correct voting.
TOLAR project founded and funding received Executive group established
Blockchain Conference Rovinj Initial network development. First cryptocurrency experiments conducted.
Launch of the Blockchain academy. Recruiting process of key team members has started. Core Tolar team created with 30 members. Website published. Tolar will introduce project publicly
Initial version of HashNET whitepaper Launch of initial mainnet chain with masternodes and staking system. Start of the private sale phase and social media presence.
Finalized version of HashNET whitepaper Developers demonstration of HashNET Pre-ICO ICO
Exchange listing Chain explorer Mobile wallets
Public release of HashNET chain Switch mainnet to HashNET protocol Future development Smart contracts Quantum resistant cryptography