Totem’s unique distributed financial infrastructure for digital assets: Features and Benefits
Dec 9, 2020
In this article, you will learn what the Totem framework is, its features and benefits.
December 9, 2020 /MarketersMedia/ —
Why Totem?
Totem is building a distributed financial infrastructure for digital assets. With the distributed architecture, Totem connects and facilitates value exchange among different blockchain ledgers.
Totem applies the cutting-edge theory of cryptography to build a general-purpose cross-chain protocol and a distributed ledger that records cross-chain and intra-chain transactions. Public, private, and consortium blockchains all can have access to the Totem network at a low cost.
Totem network makes possible the connection of different blockchain ledgers and the transfer of assets across ledgers. It revolutionizes blockchain technology and expands the blockchain network into a scalable ecosystem.
The Totem platform lays the foundation for new decentralized networks, provides the infrastructure for digital currency and digital asset-based financial applications, and also provides support for new financial business models, services, organizations, and the entire society and economic system.
Totem System Features
1. Totem Chain
Totem Chain is the essence of Totem platform and it has its own native token TOT. It supports smart contracts, cross-chain transactions and provides underlying blockchain support for implementing decentralized identity application TOTID and a series of open financial protocols.
Moreover, it is also a blockchain development platform that connects multiple assets and supports cross-chain DeFi applications. Any developer can develop applications meeting the needs of specific application scenarios on the Totem Chain.
Totem chain is designed with the following features:
Cross-chain interoperability. It connects existing major digital currency networks including Bitcoin, Ethereum, Cosmos, and Polkadot, etc. It not only facilitates asset exchange but also ensures the security and stability of cross-chain asset trading.
Blockchain development platform. It serves as a platform for developers to easily launch an application-specific blockchain without writing basic functions from scratch and allow them to focus on the specific financial business logic.
Scalable for various financial applications. This platform provides a blockchain as the foundation for implementing open financial application protocols, including modules for decentralized identity and privacy support among others, supports cross-chain DeFi, and serves as a distributed financial platform for exchanging various digital currencies.
Totem has a unique multi-chain architecture:
Standard Chain - guarantees security, consensus, and cross-chain operability.
Business Chain - meets specific financial business demands of various kinds. Such chains optimize functions for specific application scenarios.
EthBridge - allows Totem to be sliced to connect and communicate with external networks such as Ethereum and Bitcoin.
2. Open protocols
The decentralized and peer-to-peer open financial system is user-friendly, secure, and open, as opposed to traditional financial service providers. Even low-income communities that have traditionally been excluded from the financial system can participate in and benefit from it.
3. DAO governance
The decentralized governance layer of Totem’s value Internet is subject to DAO governance. Totem DAO is based on a smart contract system that does not have the usual management hierarchy or supervisory authority. Since DAOs do not have hierarchical structures, funding occurs in the performance of the assigned functions and is distributed evenly.
4. Totem ecosystem
In the Totem ecosystem, new products combining DAO and DeFi features are being created. As DAO enables DeFi products to be used as a payment/distribution method in an increasingly decentralized and digitized way.
Totem Chain offers a variety of readily available modules for consensus, P2P network governance (voting system), staking, authentication, etc.
Learn more about the Totem platform features and advantages: http://totprotocol.com
Contact Info:
Name: Totem
Email: Send Email
Organization: Totem
Website: https://totprotocol.com
Source: MarketersMedia
Release ID: 88988937
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