Tierion (TNT) is an universal platform for verifiable data. Tierion works by creating a proof that links data to a transaction on a blockchain. This is called anchoring. Anyone with this proof can verify the data’s integrity and timestamp without relying on a trusted authority. Since launching in 2015, over a thousand companies have used Tierion, including large enterprises like Microsoft, Philips, as well as innovative startups such as Accredible and Token.
ICO start date: 2017-08-10
The project was founded by Wayne Vaughan and Jason Bukowski who are the current CEO and Lead Developer of the project, respectively.
Tierion was established as an attempt to improve blockchain verification technologies that were first introduced with the Proof of Existence system. Proof of Existence allowed its users to publish a hash in Bitcoin transactions to register it in the blockchain of Bitcoin forever. However, the Bitcoin’s blockchain was not suitable to perform these types of verification.
The blockchain of Bitcoin has a number of shortcomings that produce difficulties for both financial transactions and data verification. The scalability problem, high transaction costs and inaccuracy of block time are stated among the most important ones. However, the idea of blockchain-based notarization of documents was too promising to be abandoned so the Tierion team decided to provide its own solution based on top of the Bitcoin blockchain.
The Tierion’s solution is called the Chainpoint protocol. It is a technology designed to link data to blockchain transactions. It was designed to be easy-to-use for developers and affordable to scale as a solution. The Chainpoint protocol was introduced in June, 2015 and was integrated into the work process of a number of well-established companies. Some of these companies are Microsoft, Philips, Blockcerts and Verifai.
Tierion tackles this issue using a technology known as Chainpoint, which enables people to prove when information was produced, and if any modifications were made to it after its creation. The TNT (Tierion Network Token) secures the network's infrastructure with a financial incentive, and gives users a way of accessing network resources.
Following nearly two years of research, Chainpoint has been updated to version 3.0. They will carry on enhancing its services by launching the Tierion Network, which marks the company's transition from an SaaS business to a global distributed network.
Founded in 2015 and based in Silicon Valley, Tierion utilizes the blockchain to anchor data to prove the integrity and timestamp of any data, file, or process. Tierion was the Consensus 2015 Makathon winner.
More information in the project whitepaper: https://tokensale.tierion.com/TierionTokenSaleWhitePaper.pdf
Tierion, overall, allows for the creation of blockchain-verified data suited for a variety of applications. Here are some of the core features of the platform and its Chainpoint technology:
- Issue Digital Receipts: Businesses can issue digital receipts to prove any transaction took place. This feature could extend to purchases, stock trades, insurance claims, and anything else.
- Audit Trail: Create a cryptographically verifiable audit trail, tracking data provenance and processes.
- Integrate Your Software: Integrate your software with existing web, desktop, and mobile applications.
- IoT Data Collection: Capture data from various smart devices as part of the Internet of Things (IoT). Every record gets a Chainpoint proof.
- Immutable Records: Medical records, financial records, corporate governance, legal records, inventory management, and other industries can all benefit from immutable record-keeping. Obviously, we’ve already seen a number of companies attempt to bring blockchain technology to these industries.
- Secure Customer Data: Companies can create a verifiable record of customer data, reducing KYC and compliance costs.
- Hash API: Tierion has a platform called Hash API that allows developers to anchor up to 100 records per second for free. It’s a fast and easy way to add blockchain timestamping, data security, and cryptographic audit trails to your applications.
- Data Collection: Tierion allows you to collect data from web and mobile applications. You just create a datastore, then send Tierion data via the RESTAPI or HTML forms. Tierion will automatically create a Chainpoint proof for every record. You can use that Chainpoint proof for every record. It can verify at which time and place a specific transaction occurred.
- Integrates with 500+ Apps: As mentioned above, Tierion integrates with 500+ apps and online services via the Zapier platform.
In August 2017, Tierion held its token sale and managed to attract a wide audience to support its network. The number of purchasers exceeded 5,500. The total amount raised was $25,354,187.94, and the TNT ICO token price was $0.072440536.
The distribution went as following:
- 35% were sold in the token sale to the investors in presale and public sale
- 35% were held to incentivize the ecosystem
- 29% were retained by Tierion
- 1% were used to cover the cost token sale
The sale itself ran seamlessly for most customers. After the sale opened, thousands of people signed up for an invitation code, then entered the queue – which was processed by the system efficiently. Overall, the sale lasted for just a little over one day.
Tierion surveyed everyone who took part in their token sale. More than ninety percent of respondents said that the company's token sale website was user friendly. Almost ninety-four percent of purchasers reported that the token sale website information was clearly presented. Over eighty-eight percent of respondents expressed an interest in operating a Tierion Node.
The official name of the Tierion coin is Tierion Network Token (TNT). The Tierion coin is a ERC20 token and was initially sold for both Ethereum and Bitcoin. The total supply of TNT is 1 billion tokens. The Tierion Network Token is a utility token which is used for various operations' performance within the blockchain. The basic concept consists of the following elements: there are digital “recipes” that are issued as proof of each transaction made through Tierion. In addition, there is a verification control that cryptocurrency identifies the authenticity of data, files and processes.
The Tierion Network Token can be traded on the following exchanges:
Most of the Tierion’s volume is presented on the Binance cryptocurrency exchange.
Tierion coin's price and market performance via CoinMarketCap.
Tierion is led by Wayne Vaughan (Founder and CEO). Vaughan created one of the first SaaS marketing automation platforms and founded a digital agency in the mid-1990s. Other key members include Jason Bukowski (Founder and Lead Developer), who has 20+ years of experience developing scalable software. He’s the lead developer of Chainpoint and several popular open source crypto libraries.