The Tolar platform is based on the HashNET protocol, and compared with existing blockchain platforms, it has innovative features such as scalability, high processing speed and security. Our main goal is to create solutions, build partnerships, solve system problems, and deliver new features. Tolar is an open-source, community-governed cryptocurrency characterized by scalability, fast transactions, security and fairness.

Project Introduction

Tolar is an open-source, citizen-managed cryptocurrency characterized by large-scale, fast, secure and fair transactions. We position TolarHashNET as the global leader of all DLTs and a beneficial solution for businesses and governments by providing an open, fast and extremely fair public ledger built on revolutionary HashNET technology.

HashNET utilizes distributed ledger technology (DLT), a scalable, efficient and high-impact solution to social innovation challenges. This revolutionary algorithm features faster transaction times, masternodes, and will have an open-source, community-governed cryptocurrency - Tolar.

DLT is widely regarded as a breakthrough digital technology in its public, open and permissionless form, enabling decentralization to reach consensus, share, store and secure transactions and other data, while central intermediaries do so is almost zero. The HashNET consensus uses distributed computing-based "redundancy reduction gossip" and "virtual voting" protocols and algorithms from theoretical computer science, which provide a fair and fast Byzantine fault-tolerant consensus algorithm. It is a new consensus alternative platform designed to run on a permissionless (public) network and thus reach a larger community.

HashNET aims to solve the blockchain scalability problem using the revolutionary algorithm mentioned above. It is a new consensus alternative to the blockchain, retaining all the good features of the blockchain (decentralized, transparent, pseudo-anonymous), and increasing the speed to more than 200,000TPS.

HashNET is cost-effective and environmentally friendly, because it does not require mining and uses very little computing resources. It aims to solve the problems of bitcoin, ethereum and similar PoW systems, which now use more electricity than 159 countries including Ireland and most of Africa.

Project Highlights

HashNET is scalable
Scalability has always been the biggest problem plaguing blockchain technology. Projects such as Bitcoin and Ethereum simply cannot complete a huge number of blockchain transactions in a relatively short period of time. Compared to Bitcoin, HashNET supports more than 200,000 transactions per second, while Bitcoin can only achieve 7 transactions per second. In addition, the HashNET network can process all transactions within seconds even if the number of nodes increases significantly.

HashNET is fair
Why? Because no one can manipulate the transaction order. On HashNET, it is impossible for individuals to affect the consensus order.

HashNET is fast
HashNET does not require miners to mine to record transactions. The mining process is very slow and consumes a lot of electricity. The proof-of-stake algorithm used by HashNET is combined with master nodes to reach a distribution agreement. Receiving and recording begins as soon as a transaction occurs so that final confirmation can be done in an instant.

HashNET is 100% safe
HashNET uses a distribution algorithm that reaches consensus among nodes to make hacking attacks impossible. At the same time, our combination of proof-of-stake and masternodes creates transparency, as participants are rewarded for voting correctly.

HashNET features include:
· Capacity to grow
· Speed
· Fully decentralized
· Mobile phone compatible
· Transparency in fund allocation and voting process
Anonymous

HashNET provides a novel solution to the computational and communication difficulties of maintaining large public distributed ledgers. The key innovation is an efficient asynchronous distributed consensus protocol with a properly designed directed acyclic network structure.

Tolar governance system

Tolar has a governance system called Magnus Consilium where stakeholders and investors will have the right to vote on proposals to participate in the improvement of the HashNET network.

Magnus Consilium will be part of the community in two ways:

1. Call for Tenders
Tenders are budget plans that will be submitted to the establishment of Magnus, where each proposal requires a majority of votes to pass.

2. Proof of PoS
If a user decides to lock his coins, he/she will receive interest based on the number of coins and the time the coins were stored.

Tenders and budget plans are available to all Tolar holders. Magnus Consilium will select projects for voting based on solutions that best meet the following criteria:

Social Impact: Realize potential impact by implementing solutions.
Decentralization and Governance: Allowing Voters to Vote on Future Web Development.
Outreach: Add value by spreading the word to the community.
Contributions: Rewards for improving the Tolar network.
Broadness: Allows voters to make decisions about further development paths.

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