{"id":505897,"date":"2022-10-12T09:00:44","date_gmt":"2022-10-12T09:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?post_type=press_release&p=505897"},"modified":"2022-10-12T08:43:06","modified_gmt":"2022-10-12T08:43:06","slug":"lightning-network-rival-and-bitcoin-scaling-solution-softnotes-starts-community-presale","status":"publish","type":"press_release","link":"https:\/\/uniquehot.com\/press-releases\/lightning-network-rival-and-bitcoin-scaling-solution-softnotes-starts-community-presale\/","title":{"rendered":"Lightning Network Rival and Bitcoin Scaling Solution \u2018Softnotes\u2019 Starts Community Presale!"},"content":{"rendered":"

Press Release: <\/strong>Softnotes<\/em><\/a> are a revolutionary new Bitcoin scaling solution network and have the power to finally transform Bitcoin into the \u2018<\/em>Peer-to-Peer Electronic Cash System\u2019 that Satoshi envisioned. <\/em><\/p>\n

October 12 2022, Illinois, US: <\/strong>Softnotes overcome all the scaling issues of the Lightning Network that have thwarted its progress in El Salvador. They enable feeless, private, instant, and decentralized Bitcoin micro-payments without the Lightning network’s trade-offs and complexity. Softnotes make it easier for merchants to accept Bitcoin and are enabled by the world\u2019s fastest blockchain<\/a>, a new layer-one blockchain protocol that processes over 1 million transactions per second.<\/p>\n

Tectum\u2019s community<\/a> presale has begun giving community members and retail investors the chance to be involved in an innovative new project that has actively avoided seeking Venture Capital funding. The Tectum blockchain has been under development by a team from Chicago for several years and is fully live right now. Tectum\u2019s flagship product is the Softnote.<\/p>\n

Softnotes allow Bitcoin to scale to unlimited transactions per second (TPS). They are a radically new way of thinking about Bitcoin scaling, which involves transferring ownership of Bitcoin wallets in a hyper-efficient way rather than batching transactions on a layer two chain like the Lightning network.<\/p>\n

Details<\/strong><\/p>\n

Bitcoin\u2019s maximally decentralized architecture makes it resistant to economic and technological coercions and attacks. It\u2019s a gold-like store of value and bearer instrument. Satoshi also intended Bitcoin to be a medium of exchange. The medium of exchange function has historically been its greatest weakness, with the security and decentralization aspects of Vitalik Buterin\u2019s \u2018blockchain trilemma\u2019 prioritized over scalability.<\/p>\n

Forks of Bitcoin with a heavier emphasis on scalability, such as Bitcoin Cash, have had little success due in part to their weaker network effects and security, meaning that the Bitcoin community turned to the layer two solutions, the \u2018Lightning Network\u2019 to speed up Bitcoin\u2019s 7 TPS woes. The Lightning Network, while ingenious in its design, has proved overly complicated in its execution and has not gained traction, particularly with merchants and those lacking technical expertise.<\/p>\n

A perfect Bitcoin scaling solution would be cash-like and have the following properties:<\/p>\n