Tierion (TNT)

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Tierion is a protocol that makes it possible to verify data at a massive scale by creating a proof that links the data to a transaction happening on the blockchain.

Joke Name

Tierion = Data Protocol

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (TNT)

Coin or Token

Circulating Supply (428 Million)

Total Supply (1Billion)

Market Cap Ranking

Review

Data safekeeping and handling can become quite the hassle for even the biggest of businesses. Tierion is a protocol that makes it possible to verify data at a massive scale by creating a proof that links the data to a transaction happening on the blockchain.

Key Features:

  • Protocol
  • Chainpoint
  • Token

Protocol

The core capabilities of the protocol are crucial for its adaptation.

The Trust Anchor, in its core, is an entity that provides authentication for which trust is assumed and not derived. Tierion provides a scalable solution for using multiple blockchains as a trust anchor.

Data integrity is an important part, assuring the accuracy and consistency of the data submitted. Sensitive data goes through a vetting process as to make sure it wasn’t tampered with.

For timestamping, Tierion utilizes its own Chainpoint service to include multiple trusted timestamps with multiple trust anchors.

Chainpoint

The Chainpoint service is catered towards developers, giving them access to proper tools for cryptographically linking multiple blockchains. It’s a scalable, cost-effective solution, flexible to supporting inclusion of external data.

The Chainpoint infrastructure is based on the Proof. The Proof is the part of the ecosystem that lets end users validate the integrity of their data without the need of any middlemen, built for global scaling.

Token

The TNT token provides the needed incentive to secure the network. The participants in the Tierion network are Core Members and Nodes. Core members earn TNT for anchoring data into various blockchains. Nodes earn TNT by mirroring copies of the calendar and by publishing an API endpoint for proof of creation and verification

Problems:

First of all, many people think that Tierion is decentralized when it’s quite the contrary. The company also does not utilize a DAO, which means that the token is essentially a “share” in the company and can be considered as security, which makes way for government institutions like the SEC to intervene any time and order Tierion to cease and desist. Also, the platform requires that node operators have a minimum balance, for which there is no technical reason aside from driving the price of the token up.

Conclusion:

Despite having some flaws, Tierion is an ok project. They even have a strategic partnership with Microsoft, where various teams within Microsoft use the platform to blockchain-anchor state of data and their Chainpoint service is utilized by companies like Dell and Xero. Overall, having those big names using the service it provides is great for Tierion, hopefully we’ll be hearing much more good things about it in the future.

Pros

  • Partnership with Microsoft
  • Secure authentication

Cons

  • No direct backing (asset, profits, commodity)
  • Centralized