WHAT IS TAUcoin?
Disclaimer: The views and opinions expressed in this article are those of the author and do not state or reflect those of the TAU company and its management. However, under no circumstances, including, but not limited to, negligence, shall author be liable for any special, incidental or consequential damages that result from the use of, or the inability to use, the materials on this article. Views and opinions mentioned in this article may not be suitable for you and you should make your own independent decision regarding them. This material does not take into account of your financial situation or needs and is not intended as recommendations appropriate for you. You should strongly consider seeking advice from your own way of understanding or advisors.
TAUcoin and Blockchain
The launch of cryptocurrency 2009 emerged with the first application of Blockchain when Bitcoin came in existence, and this made the introduction of Blockchain technology to the world. TAUcoin is created and stored in Blockchain, even though the two (TAUcoin and Blockchain) are separate entities, Blockchain is important to bring cryptocurrencies like TAUcoin into play, TAUcoin will leverage this Blockchain technology and just one use case for it.
TAUcoin is one of the cryptocurrency introduced to the world on August 2018 by iMorpheus.
Who is iMorpheus?
A recent article by Dr. Stefan Beyer made revelation as who iMorpheus and his identity is clearly known. That iMorpheus’s real name is David Wu, a “guru in computer and fin-tech”, and has had previous success, as the founder of DWFund.net, co-founder of Rong360, executive director at MOLBASE Chemical Database, and senior software engineer at IBM. He also has a Master’s degree in finance from Columbia University of New York, and a Bachelor’s degree in engineering from Shanghai Jiao Tong University.
And now, he’s the founder of TAUcoin and the newly consensus Blockchain algorithm - Proof of Transaction.
TAUcoin is designed to be pure and a perfect currency to serve as peer-to-peer electronic payment, mobile and truly decentralized which can be sent, without the need of a third part, from one person to another.
"TAUcoin is designed to reward miners transaction fee only and support single function, that is permission-less decentralized peer to peer payment." — David Wu
What’s the Supply of TAUcoin? Who own its network?
TAUcoins are limited to 10 billions in total and all were generated on the genesis block during testnet by 1st of August 2018. Mainnet will be launched on Q1 2019 in which its genesis block will contain the final balances of testnet. Out of the total supply, 18% will be reserved by foundation team while 82% is set to be distributed to all global citizens via referral system which is unlimited, consensus debate bounty which is one year window (at the time of writing, we are on 19th week), Start-up bounty and developer bounty (any other means of distribution can be implemented by foundation team whenever necessary).
There is no single person, government or corporation have ownership over TAUcoin. The network of TAUcoin is equally owned by all global citizens in a decentralized fashion.
Now, Start With TAUcoin
All global citizens are welcomed to get started with TAUcoin, and it should be remembered that the most crucial step is to have TAUcoin compatible wallet(s), a form of safe and secure storage having your wallet address, private keys and public keys, and makes it possible for anyone to send and receive all transactions withing the network.
Recently, TAUcoin is only supported by its two types of wallets, namely: Online wallet and Mobile wallet which all provide different means of storing, accessing and using your TAUcoins.
The online wallet is a faucet-based, which can easily be created using mobile devices and computers from anywhere by users. However, this kind of wallet stores your TAUcoin online, and can be vulnerable to hacks.
Mobile wallet is similar to online wallet but itself is more simple and mobile based. App store is where you can download and install it in your phone and allow you to store TAUcoins, send and receive all related transactions. Additionally, Mobile wallet is fully equipped with the miner in it and will be live in same Q1 2019, thus all users can be fully miners when they wish to be, pervasively and on the go. TAUcoin currently do not support either Hardware or Paper wallet, these may come into effect only if foundation team decide on the matter.
How to Earn and Spend TAUcoins?
At the time of writing, TAUcoin is almost 8 months old since its birth but yet to be traded in any exchange where one can buy or sell. But below are several ways one can decide on how to earn or spend his/her TAUcoin in a safe and secured way.
Referral System: where you invite your friends via referral link (unlimited)
TAUwork: where you can offer/request your service, hire or get job and TAUcoin will serve as a payment. Here is the only place where freelancers make it happen (unlimited).
Consensus Debate bounty: where you present your ideas, opinions and views either by opposing or criticising on the particular subject, 4 — 5 contestants are selected weekly and subjected into voting system to get best three winners (One year window, started Sept. 2018). 200,000,000 millions TAU reserved for the bounty.
Developer Bounty: where project managers, programmers and designers are required to build TAU through open source Github and earn TAUcoins. 10% of total supply is allocated for this bounty.
Start-up Bounty: where you can build up your projects based on TAU ecosystem and get rewarded some TAUcoins, 10% of total supply is allocated for this bounty as well.
Coinrains: where your activeness on discord and from specific TAU local groups, can be rewarded every day, after every two days or so, its conducted on TAU’s Discord server.
Medium Article Writing: where your writing skills and abilities can be rewarded based on the content of your articles. Good the content of the article, you will receive reward from 20k — 50k TAU.
There are currently many offers and requests that accept payment in TAUcoin, allowing everyone to experiment while using it and have funny moments along the deals. TAUcoin, Your Transaction
You want to know more about TAUcoin? Kindly visit here.
