What is Talan?
Talan is a decentralized platform based on blockchain technology that offers different financial services built on smart contacts. Talan’s parents are two networks: Mr Bitcoin and Mrs Ethereum! It is capable of running and implementing various decentralized applications (DApps) based on blockchain technology.
Talan is a fully decentralized open-source network, and its fate will be managed and determined by the network’s members. Talan is ready to offer extensive crypto services on a unique platform to its users worldwide. Talan has inherited both mother and father’s advantages: Bitcoin and Ethereum. Moreover, adding more sufficiency prepared a practical platform to let all wishes come true in the real world!
Which problems can be solved by Talan?
Talan targets to solving these five obstacles:
• Lack of trust in the network: By creating transparency, Talan offers obligatory trust to act in the crypto and financial zone.
• Absence of connection between decentralization and world economic development: Many projects, including Ethereum, claim to have solved this problem, but as scrimmaging against many issues like scalability and high transaction fees, they tend to be so far from the real world’s requirements and demands. Talan is capable of connecting blockchain technology with everyday life, yes! Precisely like a precious bridge.
• Lack of appropriate conditions: for businesses to take advantage of blockchain technology in developing countries: Since the blockchain megatrend appearance, most companies that have used it are located in developed countries. The deficiency and demands are apparent in developing countries. Talan foundation aims to make the necessary conditions for these countries (particularly the Middle East) to help them take advantage of the benefits of blockchain and improve their economy.
• Entrance to the world of the internet of things(IoT): By integrating the capability of smart contracts and sensors of different devices, the world of the internet of things can evolve. Talan’s SCs are fast and real-time with high security, strong arms of smart contracts of Talan can be utilized in IoT very effectively!
• Restrictions and justly distribution of coins: Unlike many other blockchain projects, which have billions of coins in supply circulation or mined most of their coins beforehand, Talan believes that the number of coins should be limited, and the mining process must be slow and done by Talan society.
Talan platform’s structure
In fact, Talan runs Ethereum Virtual Machin (EVM) on the Bitcoin blockchain. This technology can register and run smart contracts in a network whose power is similar to bitcoin. The network’s security is based on the “Proof of Stake 0.3” (PoS 0.3) Consensus Algorithm.
Bitcoin network utilizes “UTXO” (unspent transaction output) to manage the coins transactions. This system is capable of controlling balances and transferring coins all over the network. Using an interface layer called AAL (Account Abstraction Layer), Talan connects the UTXO system and Ethereum Virtual Machine. The AAL idea was first used by the quantum (QTUM) blockchain, and Talan is technically a fork of the QTUM whose core is changed and become faster and more sustainable in our platform. Plus, some new applications and libraries have been added to it.
Talan’s capabilities
Talan has the privilege of solidarity of the bitcoin network by implementing DApps through Ethereum smart contracts simultaneously. In other words, it can offer various services in the form of a simple platform to the users. Namely, by installing the Talan application, users benefit from:
• Private wallet (non-Custodial)
• Offline Staking
• Swap coins and tokens
• Decentralized Exchange (DEX) with Cross-Chain transaction possibility
• Purchasing flight and hotel tickets and adding mobile credit
• Trading digital currency, Fiat currencies and Stocks (in Forex).
• Creating custom-built “Kimah” Stablecoin with Talan’s collateral and take advantage.
• Connecting to dedicated oracles to supply intransitive data from the real world and out of the blockchain.
All capabilities and functions in DeFi are accessible on Talan. This possibility has been granted on behalf of the Ethereum Virtual Machine. By DeFi, we mean (Decentralized Finance) like; implementing lending and borrowing platforms, Decentralized Exchanges (DEXs) and Asserts of various Market places etc.
The attractive capability of Offline Staking!
Staking is the process of locking up a portion of your coins to contribute to a blockchain network to participate in the consensus mechanism. This act is specific to the PoS algorithm; in case of block confirmations, stakers earn rewards in return. The important point is that as it’s an online method for staking, coins can’t be transferred for a certain time called “blocktime”.
In the offline staking method, which is one of the attractive features of Talan’s wallet, users can participate in the staking process without moving coins from their wallets and earn rewards. In this method, users delegate their wallets and balance to a validator (Superstaker) instead of their coins. The minimum balance required is 50 Talan, and it is up to the user when to withdraw his address from the staking contract.
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Talan economic model (the number and the process of generating coins)
In Talan’s fair economic model, just 700 thousand initial coins generated, the developer team owns a quarter of this amount. The rest is distributed among companies, firms, exchanges, tourism, and other groups as payment for a motivational reason.
Talan’s total supply will be 14 million coins. In almost every 30–20 seconds, one block is confirmed in the network, and 4 Talan will be generated as rewards. Twenty percent of this reward is allocated to Talan foundation as the fund for future projects, and the rest will be sent to the block’s confirmer (validator). The blocks’ reward reduces 32 percent per year; therefore, it takes 23 years for network participants to generate all coins and for the coins to enter the main circulation.
Technical features of Talan blockchain:
• Transaction model: UTXO (Adapted from Bitcoin blockchain)
• smart-contract architecture: EVM (Ethereum Virtual Machines)
• Block size: 4 MB — Augmentable to 32 MB — Without any radical change to the protocols of the blockchain network (Hardfork) and just by using DGP (Decentralized Governance Protocols)
• Average time to create one block: 20–30 seconds
• Token creation standard: TLRC20 (currency token) and TLRC721 (NFT token)
• Consensus algorithm: Proof of Stake 0.3 (PoS 0.3) — Upgraded version of Blackcoin
• Transaction per second (TPS): 400 to 500
• Block Reward: 4 Talan — Reduces 32 percent per year.( 5th of Dec of each year)
• Dev fund: 700 thousand TALAN
• Max supply: 14 Million Talan in 23 years
