Connect with us

Don't Miss

Tosblock (T.OS) to Transform Payments with New Stable Coin

Published

on

unifox-ad
Tosblock
READ LATER - DOWNLOAD THIS POST AS PDF

In the following lines, you’ll get introduced to Tosblock (T.OS), a new digital currency system that aims to address volatility issues and propose a practical coin that can be used for everyday payments. To avoid confusion, it’s important to mention that T.OS is not the same as TOS (Things Operating System) – another blockchain-based project that uses a cryptocurrency with the same name, though sometimes it’s also referred as TOS.

Now let’s start with a bit of history.

Cryptocurrencies conquered their place in the financial industry thanks to their revolutionary concept that revolves around decentralization, security, speed, and low commissions. People have dreamed of a network that is not run by any single entity, whether it’s the government or a corporation, but no technology could enable such decentralization. The Internet was the first network that seemed to work for the benefit of everyone, but soon the governments and corporations developed a strong monopoly, and today, companies like Google dominate the space. Bitcoin has shown the world that true decentralization can be put into practice. Thus, blockchain, the technology underpinning it, has been tested in various other areas besides cryptocurrencies.

Initially, it was thought that Bitcoin would be used as an ideal instrument for payments and transactions without intermediaries. However, the largest and oldest cryptocurrency out there fell in the hands of speculators as most users trade it for the sole purpose of making a profit on the price fluctuations. Bitcoin and other cryptocurrencies have demonstrated high volatility, making them unpractical for payments. Tosblock (T.OS), a Singapore-based startup, wants to address these issues and proposes a digital currency that can actually be used for everyday purchases.

What is Tosblock?

Today, one cannot buy a coffee or a sandwich with Bitcoin or Ethereum. Merchants don’t want to integrate them because of their high volatility. Tosblock came up with a concept that would allow people to use cryptocurrency for buying all kinds of goods and services.

The startup was established in 2017, and since then it has been working to implement the goals stipulated in the roadmap. T.OS is operating with two main digital currencies – TOSC and TOSP. TOSC acts like a regular cryptocurrency, let’s say Bitcoin or Ethereum and can be converted on a crypto exchange. The important thing to mention is that TOSC has a fluctuating price that is driven by the supply/demand principle. On the other side, TOSP is meant for use in commerce only, as it acts as a stable coin, having its price fixed to the value of a fiat currency and it pegged to the currency the user resides in. TOSC and TOSP can be exchanged between each other on the crypto exchange platform offered by Tosblock. One of these platforms is already operating in Singapore.

TOSP is an ideal instrument for micro-payments and buying goods as merchants can rest sure its value wouldn’t decline the very next moment. Another key benefit of TOSP, which makes it different from other regular digital coins, is that it doesn’t charge high commissions on payment transactions.

TOSP is pegged to the local fiat currency and is used within a specific country. If a user wants to carry out international transactions, he can convert TOSP to TOSC and send it to other users overseas. TOSC can be used for international transactions and even for generating profits given that its price is free to float.

T.OS Features and Where to Get It

Unlike most crypto projects, T.OS is not conducting any initial coin offering (ICO) event to distribute its coins. The TOSC and TOSP coins can be purchased in designated T.OS exchanges like the one in Singapore. TOSC can also be purchased in other crypto exchange around the world. Besides, the T.OS coin can be generated via mining, and it has a maximum supply limit capped at 6 billion.

The T.OS ecosystem comprises the T.OS wallet, a store, and the designated T.OS exchange. The payment system will operate with applications for smartphones and tablet PCs.

One can convert TOSC (T.OS) to TOSP (TOSP) internally in the wallet. In Singapore, for example, 1 TOSP worth 1 SGD, whereas in Canada for instance, 1 TOSP unit worth 1 CAD. Then, the TOSP can be used for payments by sending it to the merchant’s wallet. The merchant can eventually convert TOSP back to TOSC or Fiat.

It’s important to mention that TOSP can be obtained exclusively inside the T.OS ecosystem, while TOSC can also be purchased on crypto exchanges worldwide.

The separation between the two coins is achieved through the implementation of a public blockchain for TOSC (T.OS) and a private blockchain network for TOSP (TOSP).

Here are only a few benefits of TOSP:

  • Fast transaction speed;
  • Low commission;
  • Fixed price as TOSP is pegged to the fiat currency of a given country;
  • High-security level;
  • Convenience;

Below, you can check the main differences between T.OS, Bitcoin, and Ethereum, based on the T.OS whitepaper:

Initially, the T.OS project will be expanding in Southeast Asia. However, Tosblockaims to become a global payment system that would challenge Bitcoin itself. Thus, starting with 2020, T.OS will reach Europe, the US, Africa, Central Asia, and the Middle East.

T.OS leverages blockchain for the benefit of everyone, as the team wants to develop a truly functional tool that can transform the payments industry.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Bitcoin

Bitcoin about to drop to 4k, how will the market recover?

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

It’s no secret that the cryptocurrency market (including Bitcoin) has been under a bearish run since last December 17th and it’s been going down steadily over the previous eleven months. But nobody was ready for the way in which the bears hit the market this November 14th.

It was just insane. The market capitalization for crypto went to its lowest point in a very short time. Bitcoin, which is crypto’s canary in a coal mine (so to speak) dropped below the 5k mark. It’s trading at $4,443 as we write this article and is expected to hit the 4k mark if things keep going in the same direction.

Can the trend change? Is there any good news to report? Any reason to be hopeful? The answers are: yes, yes, and yes.

The trend can and will change. We know this because drops as dramatic as the current one have already happened four times over the last ten years. Every time the market has bounced back to reach previously unexpected (allegedly impossible) heights.

About good news to report. There’s plenty. Blockchain projects like Ripple, Cardano, Stellar Lumens, Tron, and some others have reached impressive milestones this year. They are gaining adoption, becoming useful in the real world and securing strategic partnerships.

Also, even in the bearish climate, the crypto infrastructure has kept snowballing so you’ll be hard pressed to find any place in the world in which you…

Continue Reading

Don't Miss

Kobe Bryant to Attend niTROn Summit 2019 Hosted by TRON as A Special Guest

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Event Hosted by Tron, niTROn Summit 2019, will take place at Yerba Buena Center for the Arts in San Francisco, USA, on January 17 – 18, 2019.

One of the foremost blockchain protocols in the industry that is committed to a vision of a truly decentralized internet; a platform that offers high-scalability, high-availability, and high-through-put, serving as the foundation for all decentralized applications in the TRON eco-system. The TRON protocol uses an innovative interface for smart contracts to improve compatibility with the Ethereum smart contract environment.

niTROn SUMMIT provides attendees with a platform for communication on a wide range of projects and allows practitioners, as well as KOLs from other industries to congregate and share blockchain solutions and innovations that will lead to groundbreaking technological advancements.

The summit will showcase TRON’s projects with follow up insights from the members of the community. Kobe Bryant, former NBA superstar, will attend the summit as a special guest.

After having achieved greatest as a sports superstar, Kobe boasts several entrepreneurial successes in the business world. His career as a basketball player was marked by 1-time regular season MVP, 2-time Finals MVP, 5-time champion, 2-time scoring champion,  4-time All-Star Game MVP, 18-time All-Star, 1-time Slam Dunk Contest champion, 11-time All-NBA First Team selection, 2-time All-NBA Second Team selection, 2-time All-NBA Third Team selection, 9-time All-Defensive First Team selection, 3-time All-Defensive Second Team selection, 17-time Player of the Month, 32-time Player of the…

Continue Reading

Altcoins

Stellar Lumens and XLM: All you need to know

Published

on

Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

Stellar Lumens is a blockchain project that includes the XLM token. It’s meant to connect banks, payments, and people. How? By making money transfers around the world quicker, safer, more efficient, available to people that are usually outside the banking system at a cost so low that it’s almost free.

Millions of people are using Stellar already. It’s considered to be the closest project to Ripple (hence, its main competitor). But Stellar has found more use cases than Ripple so far and a strategic alliance with IBM. Those two things will end up determining Stellar’s success in the long run.

Stellar’s leadership, staff, and the team have raised a few doubts in the past. This project was founded by Jed McCaleb who also founded Ripple and eDonkey. The network’s governance and centralization could improve regarding transparency as well.

That being said, Stellar’s adoption and development have grown exponentially in a short time. It’s become one of the leaders regarding blockchain structure. And it’s been in the crypto verse’s spotlight for several reasons.

With all those successes, Stellar Lumens could do a better job when it comes to decentralized apps. In third-generation blockchain projects, smart contracts and dApps are crucial. This could allow competitors like Tron, Ripple or EOS to gain advantages over Stellar.

But Stellar’s versatility is such that it might disrupt many different markets. As a payment tool, it can affect the virtual (and the real-world)…

Continue Reading

Elite