Tierion is a platform for data verification. Tierion works by creating a proof that links data to a transaction on a blockchain. This is called anchoring. Anyone with this proof can verify the data’s integrity and timestamp without relying on a trusted authority.
|Mkt.Cap||$ 4.12 M||Volume 24H||0.00000000TNT|
|Market share||0%||Total Supply||1000 MTNT|
|Proof type||Open||$ 0.0041|
|Low||$ 0.0041||High||$ 0.0041|
Unfortunately they informed me that I had built against v2 of the Chainpoint protocol, and that a new v3 of the Chainpoint protocol was already available. You certainly don’t need to, you could simply hash your document/data and put it directly onto a blockchain. The Chainpoint protocol makes the entire process cheaper & easier to implement. Chainpoint returns a proof that contains the SHA-256 hash of the data, and cryptographic proof that the SHA-256 hash is contained in the Merkle root.
While this is just a proof of concept to show what you can do with Xero’s API, it’s possible to implement this feature yourself. While some people might be concerned about the drop in price for the TNT token, it is worth noting that the entire cryptocurrency ecosystem has been in a year-long bear market. Once the bear market dissipates and the Tierion ecosystem grows larger, we should see a commensurate rise in the price of TNT. Right now, one of Tierion’s key advantages is the low cost compared to other solutions with costs correlated with transaction fees on public Blockchain (for example, Bitcoin).
In the event each anchoring transaction receives a sufficient number of confirmations, a confirmation block is added to the Calendar. Each confirmation block contains the data needed to finalize each Chainpoint proof. The Calendar is a blockchain that is kept in consensus between multiple Chainpoint Servers.
This gives them access to tools for collecting data, creating and verifying Chainpoint proofs, and integrating data with more than 500 popular software applications. Blockchain is integral to the services provided by Tierion, so it makes more sense to raise money from ICO. In June 2015, the cost of anchoring data into Bitcoin was approximately $0.03 USD.
Tierion facilitates verifying of data on an extensive range. Tierion uses existing Chainpoint technology to build a “proof of engine” so the Internet is going to be able to use for various size apps. By building this technology, Tierion aims to make it possible to employ the blockchain for data validation, ranging from medical records to online shopping. The team of this platform aims to decrease the complexity and cost of trust. This platform builds proof which attaches data and a transaction on a ledger via so-called anchoring.
Anchors to a public blockchain provide a low accuracy but trustless timestamp. Chainpoint solves this dilemma by including multiple trusted timestamps and multiple trust anchors in each proof. This allows Chainpoint proofs to simultaneously possess accurate and trustless time attestations. Perhaps the most exciting part of the Tierion Network is its Proof application that is expected to launch in early 2019.
Chainpoint provides a global utility for anchoring data to the blockchain and a universal platform for data verification. These early attempts used the Bitcoin blockchain and published just one document hash alongside each Bitcoin transaction. The problem is Bitcoin doesn’t have nearly enough network throughput to accommodate all the document hashes that needed to be recorded. Bitcoin’s security model is enforced by the entire network instead of a trusted central authority.
This allows everyone to confirm the timestamp and integrity of the data without any requirement for extra granted expert, e.g. lawyer. Tierion gives an opportunity of anchoring on Ethereum and Bitcoin blockchains.
The fact is - no one can accurately predict future of Tierion (TNT). All we can do is use various algorithms and run technical analysis of the Tierion (TNT) using its historical price data and perform Tierion forecast. If the future follows the same pattern as in the past, this predictions/forecast can be very accurate. The price of Tierion (TNT) in 2022 will be about $0.1614.
- Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens.
- Tierion overcame these obstacles and made it simple to link a virtually unlimited amount of data to a single transaction on the blockchain.
- Market Overview Watch updated crypto prices, market caps, volumes.
- Perhaps the protocols are already well developed and are just being maintained.
Chainpointis the open standard that can be used by any developer for linking data with a blockchain to create a timestamp and proof. Chainpoint comprises of several developer tools, and has been used by hundreds of companies to create applications that utilize data linking. Chainpoint is also the foundation of the Tierion Network.
For instance, Bitcoin’s block time accuracy is approximately ±2 hours. Trusted timestamps are accurate, yet require users to trust the time provided by an authority.
Hottest Blockchain News
We will additionally analyze the potential for the TNT token to secure more adoption in the long term. Tierion is one enchanting blockchain project that is taking on an area unique from others. They are working on data verification but on a massive scale.
Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.
Tierion uses the Chainpoint technology to create what the team has termed as the “proof engine”. Through this use of Chainpoint, the Tierion team says it can use blockchain technology to verify data.
This makes it easier to verify Chainpoint proofs and audit the network. Developers get started using the current version of Tierion by visiting the website and signing up for a free account.
This gives room for anyone, at any time to verify the integrity and timestamp of the data simply by looking it up on the trustless blockchain. This removes the need for third party trusted sources such as notaries. At the moment Tierion provides this ability for both the Bitcoin and Ethereum blockchains. What’s more, using the Bitcoin network and blockchain became prohibitively expensive, with the cost of each document rising to more than $3 USD as of 2017. As if all this wasn’t enough, the delayed block time from Bitcoin meant the timestamp on the documents weren’t accurate.