A comparison between TARUSH and other crypto ventures
Thousands of crypto ventures surfaced in the last 12–15 months and the credit goes to the hype created towards the end of 2017 when all the tokens were rushing towards their all-time highest. Well, this has been great, but if you look at it from a technical perspective, it is quite evident that they all (pretty much) copied each other. Every crypto millionaire was keen to roll out his own token and offer a staunch competition to Bitcoin.
However, in our opinion, ‘offering’ competition to an already existing business by introducing the exact same concept should not be on anyone’s list. In fact, we believe that if entrepreneurs shift their focus on solving the real World problems through cryptocurrencies and other blockchain use cases, that could change the game for everyone. In order to do that, we have embarked on a journey to enhance the shortcomings of Bitcoin, such as its lack of efficiency, scalability, fungibility, and privacy.
You must have observed the primary difference here — we are not trying to get into a competition with the pioneering currency. In fact, we are only interested in making it more robust. We are not here to disrupt or steal the market, we just want to introduce a solution with the help of our latest technology based on MimbleWimble and Tron’s smart contract platform.
The technological perspective
As mentioned above, our underlying blockchain is quite the latest one for launching crypto-based ventures and of course, way more robust than what our peers have implemented. One of the coolest features is that it favors scalability by continuously optimizing the chain size. For instance, if a network has 100 blocks and 30 of them happen to contain intermediary information, it would merge up those blocks into one and hence, diminish the load of the network. In most of the other ventures, this size keeps on increasing after every successful transaction. So TARUSH has opted for a straightforward approach in order to enhance the scalability of the network.
Now if you look at it, we not only enjoy a crispy edger over our competitors, but our solution can also be integrated with Bitcoin’s root network by implementing a soft fork. As a result, the number of users can grow exponentially, without having to worry about the TPS rate or sustainability.
Moreover, since we have utilized Tron’s smart contract platform, we can offer a great deal of efficiency to the end users. Most of the ventures in the niche are developed on Ethereum’s platform but Tron offers a great deal of decentralization as developers can roll out their dApps without being linked to any centralized organizations, as required in most blockchains. It should be noted that in the very beginning, Tron happened to be an Ethereum-based project. However, over a course of time, it identified the loopholes or rather inefficiencies and hence, decided to launch its own blockchain. So it is pretty easy to understand that Tron has improvised by addressing the problems found in Ethereum and therefore, it is much more efficient.
Here, it is very important to re-emphasize that we are using the MimbleWimble blockchain together with Tron’s smart contract platform.
Privacy
Before going any further, let’s just define the boundaries of privacy — basically, it refers to safeguarding and hiding the personal information of users, which may expose their identity otherwise. Its importance is equally valuable in credit card transactions, bank transfers and in the World of cryptocurrencies as well.
In order to guard users’ information in this niche, it is crucial to publish the least amount of data on the ledger. In order to do that, we ensure that none of the blocks contains the following information:
- Amount
- Receiver’s wallet address
- Sender’s wallet address
Security
It is one of the most aggressively growing demands in the crypto sphere since 2018 brought an array of exchange hacks and other cybersecurity events. Collectively, the losses were recorded in several billion and since the market is unregulated, hundreds of customers could not be compensated. Just to clue you in, please note that at the beginning of 2018, the industry was worth $820 billion and towards its end, it was floating at about $140 billion. Just imagine the number of customers who would have left the industry because of security concerns. Therefore, if we manage to gain back the same reputation, cryptocurrencies could (once again) boom at an incredible pace.
At this point, it is important to clarify that privacy and security are not the same. However, they depend on one another and hence, it is crucial to focus on both.
In most of the crypto ventures, the transaction details are broadcasted all across the network and therefore, if a node wants to keep track of a particular wallet’s activity, it can do it pretty easily and this is the beginning for any major cybersecurity event. MimbleWimble offers a unique perspective in this regard and establishes a secure communication channel between 2 peers willing to verify a transaction.
Another noticeable factor is that TARUSH does not go for the Proof of Stake consensus algorithm. In fact, we have opted for PoW, which thwarts or at least diminishes the probability of centralized mining pools, hence allowing a greater degree of decentralization.
Sidechain
Please note that our solution can also be soft forked with the main Bitcoin network to bring more efficiency and this feature makes TARUSH a perfect option for sidechain implementation as well.
Let’s take the example of ‘Liquid’ for comparison. It was created by Blockstream and if compared with TARUSH, it happens to be quite an established venture. However, a federation of several crypto giants, including Bitfinex and Bitmax, oversee its working and in our opinion, it is a major blow to the concept of decentralization. Contrary to this, TARUSH runs solely on the consensus of the community and there is no management to ‘implement’ decisions.
Official Site: https://tarush.tech/
Telegram Channel: https://t.me/TarushChannel
Telegram Groups: https://t.me/TarushTech
Twitter: https://twitter.com/TarushTech
Reddit: https://reddit.com/u/TarushTech
Medium: https://medium.com/TarushTech
Youtube: https://bit.ly/2CJmVcW
