Tierion is launching a universal platform for data verification that operates at massive scale.
Businesses safeguard and notarize important documents such as property titles and contracts to ensure anyone can prove their veracity. Surprisingly, there isn’t a universal equivalent for safeguarding digital data. Companies in healthcare, insurance, and financial services are trusted with safeguarding huge volumes of critical data. Proving the authenticity of information within these industries is currently cumbersome, expensive, and in many cases impossible.
Tierion solves this problem by providing a “proof engine” for the Internet. We've created a technology called Chainpoint that lets anyone prove with absolute certainty, when data was created and if it has been modified from its original state. We’re using this technology to launch the Tierion Network, a universal platform for data verification that operates at massive scale. The Tierion Network Token (TNT) provides an economic incentive to secure the network infrastructure, and serves as a method to access network resources.
Tierion’s Token (TNT)
Anyone can join the Tierion Network by running a Node, which lets you operate your own instance of Tierion's backend technology.
Node operators receive TNT for helping improve the scalability and reliability of the network.
Node operators use TNT to access network services such as Chainpoint.
Tierion will be launching future services powered by TNT.
Token sale terms
1 billion (1,000,000,000) TNT, of which:
Ethereum ERC20 token
BTC and ETH
- Chainpoint uses a highly scalable architecture that is designed to generate millions of proofs per second. - Chainpoint includes time data from Network Time Protocol (NTP) servers and the National Institute of Standards and Technology (NIST) with anchors to the Bitcoin and Ethereum blockchains, allowing Chainpoint proofs to simultaneously possess accurate and trustless time attestations. - Chainpoint responds immediately when a hash is submitted. Proofs are automatically upgraded as they are anchored to the Bitcoin and Ethereum blockchains. - Chainpoint periodically anchors into the decentralized Bitcoin and Ethereum blockchains. This allows the Chainpoint proofs to inherit the security properties of multiple blockchains. - Chainpoint’s scalability makes it cost-effective for the world to anchor data to a secure public blockchain. This is particularly relevant as Bitcoin transaction fees have increased more than 100x in the past two years and are likely to continue to rise. - Chainpoint servers work in consensus to generate a global, publicly auditable, blockchain called the Chainpoint Calendar. This makes it easier to verify Chainpoint proofs and audit the network.
Token distribution (latest)
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:Partnership with Microsoft and Philips proofs that Tierion is a legitimate company.Tierion’s services is used by over a thousand companies, which shows that Tierion is proven to provide valuable services to its customers.Tierion has been around for 2 years with a working product that is in the third iteration, which makes this ICO a lot less risky than those with shorter track record.Tierion won the 2015 Consensus Makathon, which shows the competency of the team.Blockchain is integral to the services provided by Tierion, so it makes more sense to raise money from ICO.Factom is another solution that tackles the same problems that Tierion is trying to solve. But according to CEO of Tierion, Factom can only manage 47 transactions per second while Tierion’s capacity is virtually unlimited.
Concerns:The hard cap of $25 million is relatively high in today’s market environment.Right now, one of the Tierion’s advantages is the low cost compared to other solutions with costs correlated with transaction fees on public Blockchain (for example, Bitcoin). With the Bitcoin scaling debate finally getting over, it is anticipated that Bitcoin transaction fees will decline, at least in the short-term after the upgrade. This may make Tierion’s solutions less attractive.
Conclusion:Overall, I like this ICO, both for its short-term as well as its long-term potential. Not many ICO projects are able to secure partnerships with corporations as large as Microsoft and Philips. The fact that Tierion is around for 2 years with thousands of corporate users makes it an anticipated project.Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good. With Tierion’s partners and advisors, it shouldn’t be difficult for the ICO to reach hard cap quickly. From the Telegram channel, it looks like the presale is already over-subscribed. Fenbushi Capital has also announced that it will participate in the token sale.It is ambiguous when the tokens will be distributed, but according to this blog post, it shouldn’t be too long.For long-term holding:Good. As mentioned above, Tierion is a growing startup with a 2-year track record. The close partnerships with Microsoft and Philips would improve significantly the odds that Tierion will be successful.
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