Tolar HashNET: Hashgraph Done Right

I haven't been posting anything on crypto project for over a month now. The reason for that is the terrible market that we have witnesses in the recent weeks and the consequent declining interest in crypto projects from the community. I have heard many disappointed voices lately and I understand those people's feelings. But we should embrace the fact that the ICO market is a bubble that cannot be always inflated. In the times like now we should focus on selecting only the most promising projects. And today I'm going to review one of them, Tolar. Please note that I have invested in Tolar myself, but this is not a buy/sell recommendation.

The Idea

Tolar is developing HashNET, a blockchain technology that uses advantages of blockchain but has high hash rate of up to 200,000 transactions per second. HashNET aims to solve the problem of maintaining large-sized public distributed ledgers by employing Tolar's asynchronous distributed consensus protocol on a DAG network. As the name of the technology suggests, HashNET will use the Hashgraph technology that provides a method for achieving distributed ledger in a way alternative to blockchain. For that purpose, Hashgraph doesn't use blocks that form a chain but rather employs the so-called "gossip method".

The Technology

HashNET consensus mechanism is based on "redundancy reduced gossip" and "virtual voting" protocols. These protocols allow using lower computational and communication power to maintain the system. In order to handle the problem of growth and increase the protocols' efficiency, HashNET needs to know the total number of nodes, which, in turn, can be difficult to implement because the number of nodes can vary greatly. Therefore, Tolar came up with the idea of assigning each node a weight in the system, equal to their stake at any given time. This will ensure fair consensus in the system.

In order to solve the issue of faulty or malicious nodes HashNET uses iterative randomized approximate consensus algorithms so that fault-free nodes could protect the system from incorrect information distributed by faulty/malicious nodes.

To reduce the storage space of the system, HashNET will employ Confidential Transactions and "One-Way Aggregate Signatures" (OWAS), which will make the entire HashNET blockchain much smaller in size than, for example, the Bitcoin blockchain.

Finally, HashNET will feature a democratic governance system in which any node on the network will be able to propose tenders and stakeholders and investors will have the power of voting.

The Team and Advisors

Tolar's team is huge and currently consists of 24 team members and 15 advisors. For the time's and space's sake I will only mention management and the most experienced staff members.

CTO Josip Maricevic is an experienced iOS developer who spent many years with various Croatian and international companies. He also a blockchain researcher focusing on consensus algorithms, atomic cross-chain swaps and off-chain settlement protocols. One of the founders, Drazen Kapusta, is the Principal of the Cotrugli Business School where he was among the developers of the Blockchain MBA program. He also advises another blockchain project, 4th Pillar. Board member Terence Tse is a well-known speaker and author on the matters of finance and technology. Another board member Jeffrey Treichel has notable experience at Nestle, Shoutem, Kollektiva and PaperKarma (the latter is one of the Apple's top disruptive apps).

Tech team features such notable specialists as CIO Mario Vojvoda who held senior positions in major Croatian companies including the post of IT Director at Hrvatski Telecom (subsidiary of T-Mobile). Developer Kristijan Rebernisak worked in a company that developed Android apps for corporate clients like Allianz, The Hearst Corporation, Konzum and startups like Fogg Mobile and Visiobike. Core Developer Igor Jerkovic spent almost 3 years with Facebook and was one of the founding members of the video platform Vibby. Another core developer Sandi Fatic spent some time at Google and Fitbit and has experience working with graph database platforms at Memgraph.

Tolar's business team includes seasoned sales professionals including Bojan Hadzisejdic, who had various roles in Microsoft in the span of his 12-year career there, and a former president of MBA Croatia, Croatian association of MBA professionals, Aco Momcilovic.

Finally, advisors are represented, among others, by Naviin Kapoor, a former Oracle employee and advisor to several blockchain projects; Lester Lim, who advised such high-profile projects as Cardstack, Hybrid Block, CoinFi, Dock.io, Ink Protocol and Banca; Valerio Opacic who has been with McDonald's Corporation for over 17 years.

The Token

Tolar seeks to raise 45,000 ETH for a total of 35,000,000 tokens (35% of the total supply. The team has already reached the soft cap of 20,000 ETH, with 25,000 ETH left for all stages of the crowdsale. The price of the token during the ICO is 0,000145055 ETH per TOL. The project is currently in the stage of presale. Presale participants will get bonuses between 10 and 20% depending on their contribution.

The Product and Conclusion

Tolar has gained a lot of traction after winning the Ian Ballina ICO pitch competition in Budapest during his Crypto World Tour in June. The project has been reviewed by many influencers, received high marks and has been praised for its technology. HashNET has a lot of potential use cases including the ones in the healthcare industry and supply chain logistics.

Also in June, Tolar organized a presentation during which HashNET's prototype was able to reach the speed of 130,000 TPS. The project's initial main net has already been deployed, and HashNET's public chain is expected to be launched in Q2 2019.

So far, the project has only one competitor, Hedera Hashgraph, that has been valued at 4bn USD. At current prices, Tolar's market cap should be around just 13m USD, therefore in case of success the company has a huge potential for incredible growth. Moreover, in contrast to Hedera, who plans to give out 39 nodes with all decision power to companies of its choice, Tolar will be open to any participation, making its potential market penetration endless.

I believe that Tolar has a very big and capable team that can reach the goals that they have set. They already demonstrated successful results during the June presentation and certainly can improve their technology and enroll customers who will use it. In a today's market, where many coins are crashing, only the really solid projects will survive, and I am confident that Tolar will be one of them.

More info about Tolar:
Tolar website: https://www.tolar.io
Tolar Telegram: https://t.me/TolarHashNET
Tolar Twitter: https://twitter.com/TolarHashNET
Tolar Whitepaper: https://tolar.io/wp-content/uploads/2018/06/HashNET_whitepaper_v03.pdf

This article is not a buy/sell recommendation. I am not a financial adviser and you should do your own research before investing in any project.

Thanks for reading, stay tuned for other reviews and feel free to upvote, resteem and follow me!

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