Taucoin

About:

TAU is an electronic currency that aims to promote essential financial behavior and increase economic circulation. We introduce a new consensus mechanism, Proofof-transaction (POT), that is fair, secure and environmentally friendly. POT uses on-chain accumulated transaction fee as proof to generate new blocks. The reward is transaction fees contained in each block. Participants can form groups called mining club, which distributes block reward to all club members through an efficient club wiring transaction. Under POT, network security is maintained collectively by users’ transactions.



Intro:

TAU proposes a fast circulation currency without inflation. Users collectively grow and secure the network by doing commoner's behavior-transactions. With the technology innovation of "Proof-of-Transaction", users with transaction history are incentivated by sharing the future block reward. No advantage is for concentrating wealth and hardware as in POS and POW. Low barrier to coins, voting and rewarding for commoners are TAU inplementation of fairness. Different from other systems, TAU aims the more transaction abundance, the higher speed and the lower total cost. ICO plan: TAU foundation will allocate 60,000 TAUcoins into ICO pool once every 360 blocks, about 6 hours. Investors receive TAUcoins by their portion of BTC investd to the total BTC received during the timeframe. In the case of no investments, the unattended coins will be added to the next ICO time frame.



Milestones:

August 1, 2018

Testnet launch and web wallet.

September 1, 2018

Bounty program announced.

October 1, 2018

Mobile wallet launched.

October 15, 2018

ICO begins.

January 1, 2019

TAU defender upgrade.

April 1, 2019

Tachyon speed upgrade.