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T.OS: Crypto Payment System with Volatility-Proof Currency
T.OS offers an innovative blockchain-based payment system for real life, where a coin’s value is fixed and safeguarded from market fluctuations.
Since the first digital currency, Bitcoin, was launched in 2009, the world has seen an explosion of alternatives. They all started out with ambitions for immense popularity and mass adoption, but most have failed to realize their dream. The main reason was their inability to go mainstream due to the lack of any practical utility or real economic value.
The majority of challenger digital coins failed to become widely recognized currencies because they were not used as a means of payment in various real-life transactions involving goods and services. Instead, they were just traded on specialized crypto exchanges, often against each other.
Besides, while the oldest cryptocurrencies had to face the challenge of very low transaction speeds, the coins of subsequent generations were faster but still suffered from a lack of value stability. Indeed, this extreme volatility makes even the fastest ones unattractive as a means of payment in the commercial market.
T.OS aims to address these issues by introducing a third-generation hybrid blockchain system for making fast and secure payments worldwide. The Japanese project, a creation of developers from Samsung, was released in July 2017 with the purpose of creating a real-life payment system that allows users to buy goods and services with a blockchain-based currency, just as they would with a traditional bank card or cash.
In order to achieve this, the company came up with an innovative digital currency,
, developed as an actual means of payment within the ecosystem of affiliated stores and designed to facilitate transactions with high speeds and lower commissions. This third-generation alternative coin uses the Scrypt algorithm, and its performance is significantly better in comparison with Bitcoin and Ethereum, both in terms of block creation speed and transaction processing speed.
However, the T.OS coin may still face unexpected volatility in the market, which could, in turn, affect adversely both customers and businesses. What makes this payment system special is the solution it has adopted to address the issue of value stability.
Along with the public coin used for trading, the company has also developed an optimized private
, which is characterized by fixed and unchangeable value along the entire payment process chain. Thus, it represents a reliable means of payment. TOSP is designed only for internal use within the T.OS payment system and is not traded on exchanges, so it is protected from market oscillations and hackers.
While T.OS coins can be traded worldwide and their price is subject to fluctuations, TOSP coins can be purchased only on the T.OS exchanges of certain countries and their price is strictly pegged to the respective national currency (e.g., in the US, 1 TOSP equals $1 and in Singapore, 1 TOSP equals 1 SGD). If necessary, users can convert the desired amount of T.OS coins they store in their T.OS wallets to TOSP and use them for commercial transactions.
. The former is decentralized, minable through PoW and with the open distributed ledger, while the latter is centralized, not minable, and its ledger is closed. The public blockchain is developed for T.OS coins, while the private blockchain enables using TOSP and provides faster transaction speed.
T.OS coins are securely stored in T.OS wallets, with wallet applications available for Android, iOS, and Windows devices.
Notably, the T.OS platform has already been designed, and the company has registered the official patent for its Business Method (BM). In May 2018, it laid the foundation for further development of its payment system by launching the first T.OS exchange in Singapore. Interestingly, the project engaged a world-renowned white-hat hacker to check thoroughly the security system of the exchange for vulnerabilities.
T.OS hopes to set new standards in the crypto market, and its roadmap for 2019 includes the launch of a portable cold wallet and expansion of the T.OS payment system in Southeast Asia. In 2020, the company plans to expand into other regions of Asia as well as Europe, the US, and Africa.
If you are interested in the project, visit the official
for more information or subscribe to its channels on
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