Tectum is one of our favorite projects in the Bitcoin ecosystem, and for good reason. Tectum focuses on developing applications that are relevant to everyday life. We’ve talked about their flagship product, SoftNote, a few times. Softnote redefines payments, especially cross-border transactions.
There are lots of problems with present-day cross-border transactions. For example, strict government policies, high costs, and transaction speed. Tectum developed a solution with Softnotes to remedy these problems.
What are Tectum Softnotes?
Softnote is a payment system that allows cryptocurrencies to work like paper money. Softnote offers the added benefit of low fees and no transaction costs. It doesn’t track transactions. They are a major improvement on existing Bitcoin payment systems.
Softnote splits crypto into smaller units. This way, you can use them for your everyday transactions. Softnote transactions are free for end users. It costs more to buy a cup of coffee than to send crypto via Softnote. It supports both digital and physical transactions. We have an article explaining how SoftNotes works.
Some of the advantages of using SoftNotes include
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Full anonymity: SoftNotes offers more privacy than Bitcoin wallets. It does not register transactions in the native network ledger. In this way, they remain untraceable. Like using physical cash.
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Network independence: SoftNotes are independent of traditional banks or crypto systems. This helps with faster payments.
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Fast payment processing. The transaction process concludes as soon as the recipient verifies and unlocks the SoftNote.
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Internet interdependence: Paying users can use physical, paper-printed SoftNotes bills for easy payments. There’s no limitation or reliance on the internet for transactions.
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Denominated bills: SoftNotes bills are available based on globally recognized standards. This includes $1, $5, $10, and $20. This makes them usable for smaller transactions.
What makes SoftNotes unique?
There are lots of features that make SoftNotes a good option for transactions. These features integrate the familiarity of traditional banknotes with the perks of cryptocurrency. SoftNotes prioritizes security, efficiency, and speed.
Here are some of the features that make SoftNotes unique:
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QR codes: SoftNotes come equipped with QR codes for easy scanning by merchants. So, merchants can scan the notes for authenticity. This way, users can verify SoftNote bills.
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Serial number. Each SoftNote bill has a unique number for identity verifications and transactions.
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Pin codes: Pin codes provide an extra layer of security. Only the owner of the SoftNote has access to the code.
In conclusion, SoftNotes is available in both digital and paper formats. This means you can use them for your everyday needs in whatever form suits you. The Tectum team has lots of updates in the pipeline.
Their TET token currently trades at $9.58. It’s available on exchanges like Gate.io, MEXC, Bitget, and BinX.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Tectum.
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