Tierion (TNT) is an ERC-20 compliant token developed on Ethereum blockchain, provides a complete solution for data verification. The purpose of this coin is to create the products based on blockchain technology that reduces the complexity and cost of the trust factor in business and general dealings. Tierion model utilizes "proof" and "chain point" protocols to manage, verify and store the data. A proof is created using hashing algorithms, once it is created the proof links data to transactionShow more [+] on a blockchain. This process is called anchoring. Tierion uses "Chain point" protocol for anchoring data to the blockchain. Chain Point is designed to be highly scalable, reliable, secure and economically viable. Chain point has a blockchain, Calendar, which is created and audited by nodes. The calendar has several benefits such as reduced costs by anchoring millions of proofs within a single transaction, faster response, quick proof of verification and auditable. The common use cases for Tierion are the document timestamping, audit trail for business process, regulatory compliance, IoT data integrity, and provenance. The chain point technology developed by Tierion is being used by major companies such as Dell, Xero, Ultimus etc.
Tierion comprises of nodes which are incentivized for operating and securing the network. The core members (master nodes) earn Tierion token for anchoring the data on Bitcoin and Ethereum blockchain. A consensus mechanism elects the leader within the core members which anchors the block. This elected core member receives the block reward as well as the tokens paid to the core for that anchor block. Nodes in Tierion network earn TNT tokens by mirroring a copy of the calendar. Nodes can charge for generation and verification of proofs.
Tierion was co-founded by Wayne Vaughan and Jason Bukowski. Wayne is the present CEO at Tierion and has 20 years of software and product design experience. Jason is the lead developer at Tierion and has 20 years of experience in developing highly scalable software. The team consists of 3 other members.