Tolar/HashNET ICO Review

Website: https://tolar.io/

Whitepaper: https://tolar.io/wp-content/uploads/2018/04/HashNET_whitepaper_v03.pdf

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Overview

HashNET is scalable. Scalability is the biggest problem in the blockchain technology space. Projects like Bitcoin and Ethereum are simply not capable of transferring a large number of blockchian transactions in a short timeframe. HashNET, on the other hand, was built to support over 200,000 transactions per second, compared to Bitcoin, which can only manage 7 transactions per second. Also, even with a large increase in number of nodes, HashNET network will be able to process all transactions in a matter of seconds.

HashNET is fair, because no individual can manipulate the order of transactions. With HashNET, there is no way for the individual to affect the consensus order.

HashNET is fast, because it doesn’t require miners to create a chain of blocks in order to record transactions. This process of creating a chain of blocks is very slow and it consumes a large amount of electricity. HashNET uses Proof-of-Stake algorithm combined with masternode to reach distributed consensus. The process of receiving and recording occurs as soon as transaction takes place, which allows the final confirmation to be ready instantly.

HashNET is 100% secure. HashNET can’t be hacked due to the power of distributed algorithm, which is responsible for reaching consensus within the nodes. Also, combining Proof-of-Stake and masternode creates transparency, since the participants are compensated for correct voting.

Characteristics of HashNET include:

• Ability to grow
• Speed
• Completely decentralized
• Mobile compatible
• Transparency of fund allocation and voting process
• Anonymity

The main goal this new ledger was being created was to design something that would have fewer scalability issues. If you take some of the most popular cryptos as an example, some of them are simply not prepared to make more than 10 transactions in a second. The future will need more complex blockchains.

Also, in this blockchain, the user will not be able to manipulate the consensus order and it does not require miners. As any blockchain, it is also very secure. HashNET is compatible with mobile devices and completely decentralized.

This token uses a new governance system known as the Magnus Consilium. By using this system, both stakeholders and investors are able to vote on any type of change that has a chance of being implemented in the company’s system. When there is a proposal, people will have to vote on it to determine whether or not it will pass.

If a proposal has the majority of the votes, it is basically passed and the network will start to implement it. The solutions have to follow a certain criteria to actually be voted. This was done to prevent votation of many useless proposals that would not be actually useful for the network.

The proposal, to be actually voted, need to have a social impact, keep the decentralization of the platform and add value to the community. Usefulness and extensiveness of the proposals will also be taken into account. People who actually are able to set up ideas for the votes will be rewarded with tokens.

Stakers are essential to how Tolar will work, so people will receive an interest if they stake their tokens to help the network. This way, they will have a clear monetizable interest to enable them to keep supporting the network.

Team & Advisors – 8/10

This initiative was developed by Josip Maricevic, which is acting as the CTO of the company. His main co-worker is Drazen Kapusta, principal of Tolar. Board members include Zoran Dordevic, Budimir Milic, Terence Tse, Alan Kuresevic, Jeffrey Treichel and Sasa Pekec.

The technical team has Andrej Brodnik, Ales Tomazin, Martin Zagar, Sasa Zorc, Srdan Maksimovic, Kristijan Rebernisak, Vedran Novoselac, Vinko Bradvica, Igor Jerkovic and Sandi Fatic. The advisors are Manuel Alonso Coto and Peter Merc.

Tolars team looks great, plenty of people working on this project. 8 Foundation Members, 10 Members on the HashNET Tech Team and 13 Members on the HashNET Bizz Team. The development of Tolar and HashNET is in good hands here.

Roadmap – 8.5/10

Tolar’s roadmap looks great. Past progress going back to Q2 2017 is available to view, and future Milestones/Goals reach out into Q2 2019. Great to see previous progress. The website is lacking a bit in the way of research resources, but it’s great to see that Tolar isn’t necessarily a new idea, the team have been developing Tolar for quite some time now.

Q2 2017

TOLAR project founded and funding received. Executive group established

Q3 2017

Blockchain Conference. Rovinj Initial network development. First cryptocurrency experiments conducted.

Q1 2018

Launch of the Blockchain academy. Recruiting process of key team members has started. Core Tolar team created with 30 members. Website published. Tolar will introduce project publicly

Q2 2018

Initial version of HashNET whitepaper. Launch of initial mainnet chain with masternodes and staking system. Start of the private sale phase and social media presence.

Q3 2018

Finalized version of HashNET whitepaper. Developers demonstration of HashNET Pre-ICO

Q4 2018

Exchange listing. Chain explorer. Mobile wallets

Q2 2019

Public release of HashNET chain. Switch mainnet to HashNET protocol

Future development

Smart contracts. Quantum resistant cryptography.

Token Metrics – 8/10

Total Hardcap: $35,000,000 USD (private sales: 21%, Pre-ICO: 5.25%, Public ICO: 8.75%).

Max supply: 1,000,000,000 TOL

Token type: ERC-20

ICO Token Price: 1 TOL = $0.11 USD

Token sale %: 35%

Public sale: August

Verdict

Positive for short term flip
Neutral for long term hold