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ORO VALLEY, Ariz., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Tautachrome (OTC: TTCM), the developer of the ARknet platform, today announced that it is finalizing the features and architecture of its far-reaching ARknet-based cryptocurrency ecosystem.
ARknet’s planned token, the XAR (pronounced “ZAR”) will provide multiple functions and facilitate several unique features within the ARknet ecosystem. Similar to ARknet’s implementation of user NFTs, the XAR token will leverage both the Factom Protocol and Ethereum blockchains by way of an Ethereum-Factom bridge connecting the two networks.
Dr. Jon N. Leonard, Tautachrome’s CEO said today, “We are very pleased with the design of the XAR token. Our aim from the outset with the ARknet platform has been to produce an ecosystem in which people can interact without losing the economic value of their interactions to some platform, which turns around and sells the value of these interactions to the highest bidder. The XAR token is the internal currency of the ARknet platform that enables the ecosystem that achieves value for user content that can be captured and preserved. The XAR token is also the key to enabling frictionless, instant purchasing transactions between platform consumers and platform providers of goods and services, transactions that work worldwide for any size purchase, even a cup of coffee. Users will drive the creation of the XAR ecosystem through their ARknet platform activity in a deliberate and dynamic built-in token reward system, a system designed to incentivize activities that deliver the most value to the ecosystem.”
Dr. Leonard went on to say, “With national governments risking the value of their currencies for the next election it is timely to institute a tokenomics that can have lasting value independent of the politics of election cycles. We continue to surge ahead implementing our grand ARknet vision of an AR reality that will reshape how humans see and experience the world.”
While token release timelines are still being worked out, Tautachrome expects to launch its ecosystem token in the fourth quarter this year.
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About Tautachrome, Inc: Tautachrome, Inc. (OTC:TTCM) is an emerging growth company in the Internet applications space. The company has patents, patent licenses, and patents pending in augmented reality, smartphone image authentication, NFT technology and imagery-based social networking. The company is leveraging these technologies to develop privacy and security-based applications for global business and personal use.
Tautachrome, Inc. posts important information and updates through tweets from the official company twitter page https://twitter.com/Tautachrome
Forward-Looking Statements: Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, risks of managing growth, governmental regulatory risks, technology development risks, schedule slippage risks, and political and other business risks. All forward-looking statements are expressly qualified in their entirety by this paragraph and the risks and other factors detailed in Tautachrome's reports filed with the Securities and Exchange Commission. Tautachrome undertakes no duty to update these forward-looking statements.
Press and commercialization contact:
David LaMountain, COO
Source: Tautachrome, Inc.