One of the fastest blockchains in the industry, with a record of more than 300,000 transactions per second, is soon to be listed on the leading cryptocurrency exchange with more than $1.3 billion of reported volume: MEXC Global.
TechPay attracted the attention of investors thanks to the announcement of the Bi-Directional Cross-chain bridge with Binance Smart Chain. The wrapped version of the TechPay coin went live on PancakeSwap back on May 17, 2022.
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— TechPay Coin (@TechPay_Chain) June 1, 2022
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Since the listing, the cryptocurrency has shown an impressive price performance on secondary exchanges, which pushed the market capitalization of the project to almost $12 million at the moment of writing. As for now, the community around the project awaits the listing on the second Centralized Exchange, MEXC Global, on June 3, at 12:00 UTC.
What is TechPay about?
TechPay is an infinitely scalable Layer 1 cryptocurrency functioning on the Practical Byzantine Fault Tolerance and Directed Acyclic Graph. Alternative systems were chosen to ramp up the performance of the network while not affecting the cost of transactions.
Reportedly, TechPay Network can process a transaction at 504 milliseconds while being fully decentralized thanks to the proof-of-stake consensus algorithm. The TPC cryptocurrency is a native token of TechPay Network, which is used to pay fees for moving funds across the network.
TechPay offers a fixed maximum supply of six billion coins with the active burning mechanism, which removes 30% of each block’s transaction fees from circulation. The burning mechanism proved to be a successful support system for coins like Tron and Ethereum.
TechPay use case
TechPay is designed to solve three issues present on the blockchain: scalability, security and decentralization. TechPay using the term “blockchain trilemma” to describe what their network is solving.
With scalability issues solved with the help of pBFT and DAG, centralization is ensured with an extremely high number of transactions between shards, which diminishes centralization risks. Energy demand is also low as hashing power is not needed for meeting the next block.
Alex Dovbnya
