The first week of August is coming to an end. Another month has started with the new opportunities for Tecra startup. We have prepared for you the most significant news that were taking place in Tecra this week.
TCR price (08.08.2020): 3.20 USD
Will you charge your electric car using TecraCoin?
Lately, the world is witnessing that the electric cars business is enjoying its growing popularity. This week, Tecra held its first talks on the use of TecraCoins in this industry.
We took the first steps towards the revolutionization of our coin holders’ lives. The goal is to create a network of electric car chargers serviced by TCR.
this means that maybe in the future, our customers will be able to pay for charging their cars with TecraCoins (TCR)
These are the long-term plans, so we are not able to provide more information at this point. The fact is, however, that the whole team is working on new solutions for the continuous and sustainable development of our cryptocurrency and this is one of the ideas we have started to implement. Stay tuned for more information about our journey in popularizing eco-friendly solutions in the world’s everyday life! Join Tecra Community.
Testing the changes in hash algorithms
There are many hashing algorithms that can be used to hash a message. In blockchains, hashes are used to represent a current state of blockchain. Every transaction contains certain information such as the addresses have been sent, sending and receiving of addresses, timestamp, and so on. The hashing speed is also an important factor. A hash function used in practice in blockchains should give the values fast.
Nowadays, the Tecra wallet significantly relies on “sha256” hash functions to encrypt most of the operations it performs (i.e. transactions, encoding blocking, etc.). However “sha256” is appeared to be a rather slow hashing function, therefore our developers' team is considering the replacement of the current hash function by faster options in order to achieve a better response of the wallet as well as faster transactions. So far we have already tested such options as “blake2b”, “blake3” and “keccak” and compared transaction time obtained by replacing sha256 by these functions. The currently used “sha256” happened to be 2 times slower than any of the tested functions. Developers consider the “blake2b” as the fastest one.
The team does not compromise safety of the blockchain during the testing.
This graphic doesn’t precisely reflect the speed performance of each individual hashing function. In principle, blake2b should be 4 times faster than sha256, but it is very likely that other operations (not related to the hashing function) which takes place when a transaction is processed are limiting the speed improvement due to changing the hashing function and that’s probably the reason why blake3, keccak, and blake2b are producing rather similar transaction time.
“blake2b” reaches its peak with less time, which means that there are more transactions conducted within a shorter transaction time. Basically, in most cases, “blake2b” is faster than the “keccak”.
Now the work is focusing on implementing “blake2b” as a replacement of “sha256” for a possible hardfork. There will be challenges to encounter during the implementation (i.e.as well as “sha256” needs to be kept for older blocks and transactions ). Currently, the team is working on adjusting and implementing correctly “blake2b” into the wallet in the way that it can eventually be used as a next hardfork.
Moreover, we worked on the second step of our current blockchain upgrade
BETA test of Tecra Space platform
There was a lot of talking about implementing a new investment platform.
We have created and are conducting beta testing of a new platform, on which we have worked intensively over the past month. Today, we can release some footage of our work. The 1.0 version of the layout was created by our art director. The back-end developer is constantly working on adding more functionalities. There are 7 running sub-pages:
TEAM | ABOUT | BLOCKCHAIN | APPLY FOR FUNDS | COMMUNITY |
CONTACT | INVEST NOW
At this point, we have created the user panel and now designers are building it from the back-end side. Users will be able to set up an account on our platform. This way they can invest, add, and manage their projects.
We also designed a general view of the projects on the home page. There will be several of them in the beginning. The information on the projects will include description, photos, categories and fund data. Obviously, each of the projects will have its own subpage, where are comprehensive information about the project and fundraising. The images and descriptions are examples of the projects. We will soon replace them with real projects.
Our platform will bring together creators and investors. The creators will be able to submit their scientific, technological and startup projects. On the other side, investors will be entitled to place their capital in order to make a profit when the project starts to generate revenue. The platform will bring these two groups together in order to realize innovative projects.
The “Creator” application form will have 2 stages. The first one only contains basic information, such as the name of the project and contact details. Once sent, we receive information about the application and you can expect the contact from our side.
The second stage of the form contains additional fields that you can complete to provide us with more information. This includes information such as category, country of incorporation, how much you plan to rise and on what valuation. In addition, you can upload documents such as a pitch deck, presentation, pdf documents, or anything else that explains more about your project.
How does this process look like?
- Make sure your project is relevant and can be adequately verified,
- First registration (project name, amount, description, contact)
- The initial selection will be conducted by experts from Tecra and Tecra community
- Preparing the final description, target and milestones for the project
- Placing the project on the platform
- Disbursement of the collected amount in tranches, depending on progress in implementation (milestones)
We are in the midst of updating the latest statistics on Blockchain Tecra, wallets, mining, TCR supply, price, master nodes, team, funds.
If you have any suggestions concerning the additional functionalities or information you would like to see on the platform, don’t hesitate to text us on any social media of Tecra. Links available below this article.
We are constantly working to ensure that Tecra complies with applicable law. We are served by both the best law firms and individual legal advisers. This week, the entire management board held a series of meetings with both lawyers and accountants. All of this has one goal: to deliver value with honesty and knowledge. We build a responsible business on a regulated market.
This week we officially hired a Chinese translator, who is also an advanced expert in Chinese culture. Her task will be to maintain social media activity in China, helping to prepare marketing material and participation in important negotiations. The Asian market, and especially the Chinese market, is special with its traditions, quirks and features and necessitates a distinctive and unique approach in order to effectively pursue your business goals. The business aspects very closely correlate with the ethnic characteristics of the region, so if a firm intends to develop and open up new markets, it is vital to have in your team someone who has an understanding of Asian culture. There are many examples of the unfortunate experiences of many enterprises regarding Asian market because of the lack of a profound understanding of Asian culture. The Tecracoin start-up stands for long-term and stable development and expanding into the Asian market is very important in terms of our business model. In today’s business and investing environments, there are no doubts that technology firms have greater development potential and investment opportunities in China’s markets. We are confident that the projects that our startup team is working on may appeal to Chinese investors. Some of the projects are fundamentally new and innovative of their nature and the way we present our ideas is very important for investors. Our new employee has already started to intensively study the operation of the Tecra in order to perfectly orientate herself in business terms and be able to considerably present information about the company. We strongly believe that her knowledge and enthusiasm towards Tecra startup will lead us to achieve our potential in the Chinese market. We invite you to visit our Facebook page and read more information about our new team members.
NEW MEMBER Today we would like to introduce another employee of... marketing department. Magdalena Modzelewska will be…
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