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Taraxa, listed as TARA, is an innovative Layer-1 blockchain platform that leverages advanced t-Graph Consensus and blockDAG technologies to address the challenges of today’s world. Using blockchain in areas such as IoT, health, asset leasing, mobility, and IP licensing, Taraxa enables organizations to better manage data and transactions, with a focus on transparency and security.
Tarax's unique technological approach
1. t-Graph Consensus and blockDAG technology
Taraxa stands out with its hybrid technological approach, which combines the advantages of t-Graph Consensus and the blockDAG (Directed Acyclic Graph) architecture. This solution allows for the processing of several blocks simultaneously, ensuring a fast transaction flow and high scalability - over 5 thousand transactions per second, with finalization under 3.7 seconds. Additionally, the blockDAG structure increases the platform's resistance to double-spending and Sybil attacks, guaranteeing a high level of security.
2. EVM-compatibility
Taraxa is compatible with the Ethereum Virtual Machine (EVM), meaning that Ethereum-based decentralized applications (dApps) can be easily ported to the Taraxa platform. This means that developers using Taraxa have access to existing tools and can focus on developing their projects rather than learning new technologies.
3. Low costs and low entry threshold
One of Tarax's main advantages is its exceptionally low operating costs, which makes the platform accessible to a wide range of users and developers. Minimized hardware requirements and low transaction costs attract both experienced developers and novice users, creating a diverse and dynamic community.
Key Real-World Applications of Tarax
- Internet of Things (IoT) – Taraxa enables communication between IoT devices without a central supervisory unit. This solution can be successfully used in smart cities, where devices manage resources and operations more efficiently and transparently.
- Health sector – The platform provides secure patient data management, enabling healthcare facilities to access accurate and current medical information. This allows healthcare staff to make better treatment decisions while protecting patient privacy.
- Asset leasing – Taraxa enables automation and security of leasing agreements through smart contracts. This reduces the risk of fraud and ensures that all parties adhere to the terms of the agreement, which is particularly beneficial in industries that rely on the rental of expensive equipment, such as construction.
- Mobility and transportation – The Taraxa blockchain can be used to manage and optimize transportation networks, allowing transportation infrastructure and vehicles to be used more efficiently, reducing traffic congestion and emissions.
- IP Licensing – Taraxa creates a consistent and transparent register of intellectual property rights, which helps creators protect their work and ensures fair compensation for the use of their work.
- DeFi (Decentralized Finance) – Taraxa supports the development of decentralized financial applications, enabling access to financial services for those without access to traditional banking, which promotes financial inclusion and economic development.
TARA Token – The Backbone of the Taraxa Ecosystem
The TARA token is used in the Taraxa ecosystem for a variety of purposes, including payment for transactions, voting on governance proposals, and as collateral for the network. Through staking, users can be rewarded for their part in protecting the network, contributing to its stability and security. The current staking rate is around 45%, and annualized returns are around 15%.
Staking and rewards
There are several benefits to staking the TARA token:
- Network protection from Sybil's attacks,
- Staking rewards in the form of passive income,
- Transparent rules and remuneration thanks to blockchain.
TARA Token Market and Technical Data
The current price of TARA is $0.004049, with a market capitalization of $19.21 million and a trading volume of $24K in the last 225.22 hours. The maximum supply of TARA is 12 billion, and there are currently about 4.74 billion tokens in circulation. TARA reached its all-time high of $0.07728 in March 2021, which is a decrease of 94.75% since then. The minimum price of the token was $0.0005916 in December 2022.
Innovative achievements and development plans
A major milestone in Taraxa’s development was the introduction of the first Proof of Stake blockDAG and the launch of a testnet that engages the community and allows testing of the network’s capabilities. Taraxa also published an open 12-month roadmap that clearly outlines future goals and innovations, including the launch of the Social AI Echo platform and further development of the DeFi ecosystem.
Team and Founders
The project is led by founders Steven Pu and Songqi Pu, both Stanford graduates whose technical knowledge and experience are key to Tarax’s success. The project was inspired by Professor Maurice Herlihy of Brown University.
Summary and Key Data
Taraxa is a modern blockchain platform that attracts the attention of global specialists from various industries thanks to the use of pioneering technological solutions. It is a project with great potential, especially in the context of real-world applications, where transparency, efficiency and security are a priority.
Key specifications:
- symbol: TARA
- Current price of: $ 0.004049
- Market capitalization: $19.21M
- Volume (24h): $225.22K
- Maximum supply: 12B TARE
- Circulating supply: 4.74B TARE
- Historical maximum value: $0.07728 (March 2021)
- Historical minimum value: $0.0005916 (December 2022)
Main links:
- Official page: www.taraxa.io
- Explore: Taraxa Explorer
- Staking: Staking on Taraxa
- Quotes and information: Available on CoinMarketCap and CoinGecko
