Temtum, is soon to launch its purpose-built, next-generation payments network designed to solve some of the inherent problems with existing cryptocurrencies.
We caught up with Founder and CEO Richard Dennis to find out what these inherent issues are and how temtum plans to take on the established players and release a payments platform to achieve critical mass adoption.
Since I first got involved with Bitcoin off the back of working on the Tor network, it became clear that BTC was never going to be a suitable network that could grow to be a large scale peer-to-peer payment network – it was just so slow and even got me flagged at the University for using too much energy mining from my office. This was around 2014 while lecturing Cryptography at Portsmouth Uni, and so for my PhD I decided to create a network that would scale and be suitable for mobile devices, while being highly secure.
Over the past four years, temtum has been developed on the foundations of the Temporal Blockchain that myself and Dr. Gareth Owenson created. We took a very different route to 99% of this industry in that we bootstrapped, wrote peer-reviewed papers on our research and went ahead to create, what we now believe is the most efficient Blockchain technology that exists and will solve the inherent problems with cryptocurrencies, that intend to be used for instant, feeless payments.
So what’s next for you? When will temtum launch?
temtum has already launched. Before we said anything publicly, we had a completed manner, which is a launched network as far as we’re concerned and positions us very well against some of the biggest projects. The difference here is that we’re yet to distribute the currency, $TEM. We’re going to announce our plans and recent developments in full in the very near future. Although it’s still early days of the world knowing what temtum is and what we’re all about, we’re certainly not in the early stages of development and we’re very much ready to show off what we have created.
What technology allows this to happen to the Temtum?
temtum is built on the Temporal Blockchain with our own unique Consensus Algorithm, which combines to give us our 4 technological pillars – Speed, Security, Scalability and Sustainability. At a time where there is a very competitive ‘transactions per second’ speed race in the industry, temtum is currently delivering proven 1800 tps on our mainnet. This is prior to network scaling, sharding and delegation, all of which are close to completion and will essentially give the network an unlimited TPS figure – it will only be limited by network scale. As other projects make ‘millions of TPS’ claims, we’re yet to see sustained evidence of even a fraction of these speeds, so we’re very happy to see we’re right up there on speed.
There’s nearly always a tradeoff in Blockchain, so much so that the term ‘trillema’ was coined for the fact no technology was able to solve ALL 3 of the main restrictions of Blockchain – Speed, Security, and Scalability. Well at temtum we believe that without a 4th, Sustainability, Blockchain will still not be fit for purpose. Security, Scalability, and Sustainability are all solved with a unique feature of temtum – a quantum source of randomness.
This randomness enables the network to select a leader for processing transactions, without it ever being pre-determined, which is highly efficient, uses next to no energy and is secure against the future of quantum computing. We’re already outperforming the next layers of the biggest projects in the space when it comes to Speed, Security, Scalability, and Sustainability.
Temporal - A step change for blockchain
Temporal Blockchain technology transforms the way the blockchain works by reconstructing how peer-to-peer networks scale. It operates with less power, energy and storage, and processes transactions on very low-resourced devices at extremely high speeds, with an unparalleled degree of security. The temtum network can be scaled rapidly and at minimal cost. temtum eliminates the need for centralised pools of specialised hardware, delivering a blockchain network that’s environmentally conscious and can be run on any device connected to the web – even a smartphone.
This means that our vision of a truly decentralised, fully scalable network that can be placed in the hands of the many rather than the few is fully achievable. Yet with previous blockchain technology – which theoretically supported a similar vision – that simply wasn’t the case. Our technology innovations have supported the necessary evolution of blockchain, which in turn means that the temtum cryptocurrency represents a compelling mass-market proposition at a global level.
Temtum is set to partner with Coinall
temtum, the next generation cryptocurrency able to deliver feeless, instant transactions, backed by a highly scalable, sustainable and quantum secure network, will soon be available to buy, trade and use once listed as the first project on the CoinAll Super Project.
After completion and successful launch of its mainnet, the first chance to purchase the currency TEM will arrive on the 17th of July 2019 via the CoinAll exchange. This significant milestone in the network’s development demonstrates the maturity of the technology, in development for 5 years, and corresponding appetite for the coin in the cryptocurrency industry.
The Team
Dr Douglas Meakin - President
Douglas is an experienced technical executive with many years working within engineering, product development, quality systems and processes and operations in leading-edge technology industries. He is a proven business and operations leader and agent of change in a global context, having transitioned large organisations globally whilst managing huge increases in scope, complexity and business volumes. He is committed to effective and motivational leadership of teams and development of human potential. Most recently Douglas was the corporate vice president of global supplier management at Lam Research Corporation, a leading supplier of semiconductor processing equipment, based in Silicon Valley, California. Doug is CEO of temtum and sits on the board of directors.
Richard Dennis - Chief Development Officer
Richard is the founder of Dragon, and a globally acknowledged, prolific and prodigious cybersecurity and cryptography expert. He is also internationally recognised as one of the world’s leading cybersecurity lecturers with a specialism in secure networks, blockchain and encryption. He has a significant body of published research, cited 100’s of times within Blockchain, and presentations on next-generation solutions across a wide range of subjects, including Bitcoin wallet vulnerability, an analysis into the scalability of Bitcoin and Ethereum, and a formal analysis of the Temporal block.
Ginger Saltos - Chief Technology Officer
Ginger has an MSc in Security IT, MSc in Forensics IT and has worked extensively as a telematics engineer. She has five years of experience across public and private companies in security auditing in Ecuador and she has advised the Ecuadorian government about security on systems, policy and procedures. She is currently a professor at ESPOL, teaching programming, databases, security IT and Forensics IT. Open-Sec Ethical Hacker Certificate OP3N-53C 37H1C4L H4CK3R (OSEH). She is also a PhD candidate on the topic of ‘Analysing Malware using Phylogenetics.’ Her key specialisms are artificial intelligence and internet security.
Dr Gareth Owenson - Chief Information Security Officer
Gareth holds a PhD in Computer Science and a BSc in Internet Technology and is a specialist in internet security, cryptography and distributed systems. He has conducted research in large distributed systems with a particular interest in cryptographic applications such as darknets and digital forensics, including developing automated analysis techniques to rapidly reverse engineer advanced malware to determine its functionality and develop countermeasures. He has authored many publications in journals and conferences and regularly serves as a referee for Elsevier, IEEE and CHINACOM. He has conducted a large study into the use of darknets; he is widely recognised as an expert in this field and frequently speaks on this topic. He has also advised the UK and US governments on darknets and internet filtering policy.
David Hodkinson - Chief Financial Officer
David is the co-founder and CEO of Harvex, a specialist firm working with clients in the cryptocurrency, blockchain and online gaming sector. He has worked with multiple high-value ICO’s, advising on international structuring, banking and tax. As a qualified accountant, he has overseen the financial affairs of a wide range of cryptocurrency companies. Alongside this, he has been involved in the strategic launch of multiple online gaming companies and the integration of cryptocurrency with these platforms.
Cyntia Aguirre - Chief Software Architect
Cyntia is a Master of Science in Software Engineering with a strong background in software development and IT architecture. She has four years’ experience both developing as a full stack developer and designing and implementing software as an IT architect for the financial industry (Banco del Austro S.A.). She also holds a PMP accreditation (Project Manager Professional) certified by the Project Management Institute USA.
How can people learn more about temtum?
We’re on Telegram, Discord, Twitter and Reddit. More information can be found on the temtum website https://temtum.com and in the temtum white paper. If your readers have any questions, we’d be delighted to hear them – [email protected]
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