Blockchain is the underlying technology of cryptocurrency, although not just used for financial transactions. The primary purpose is to keep a record of all the information that has gone through the network in a way that is impossible to change, cheat or hack - this is called a ledger...
A Blockchain consists of many “blocks” which hold information (i.e transactions), TENT for example generates a new block every 1 minute and all blocks can be checked past and present, this can’t be changed because it is hard coded into the network design.
A blockchain network consists of many computers running 24,7 with a full copy of the Blockchain stored from the first block to the current one. Every computer or “Node” as they are known are fully synchronised between each other, so any transactions which are made on the network are verified by the whole network. Any transactions that are not verified by the whole network are rejected and are not authorised.
A Cryptocurrency wallet is uniquely secure by design because a connection is required to the Blockchain network before any transactions can be broadcasted, no connection, no transaction. Once a wallet is created, the user has the option to save his or her private key which is a long special format of characters and/or recovery phase which consists of a number of random words. Both these options are only available to the user and are not recorded anywhere on the Blockchain, so if the user loses any of these, his or her funds are gone forever- Care must be taken to store these securely.
We offer two TENT wallets, TENT Core for desktop users and TENT Wallet for smartphone users.
TENT Core is a full node wallet best used for private transactions and running masternodes.
TENT Wallet is better daily usage, supports swap between cryptocurrencies and crypto payment card support.
TENT secure is a security implementation embedded into the TENT Blockchain network by the use of its “Masternodes” or commonly called “Nodes”. These Masternodes not only keep a copy of the TENT Blockchain, they also monitor the condition of the TENT Blockchain for an attack or malicious activity.
For example, if an attacker created a duplicated Blockchain of his or her own with more than 51% of the total network mining power, could potentially create fake transactions within the network and trick exchanges into accepting them.
To combat this TENT introduces TENT Secure which utilises its Masternodes to monitor the block order or in particular the number of transactions per block. These Masternodes work with Mining pools and exchanges as a “man in the middle” to provide effective attack protection. In simplistic terms, if there are any discrepancies between the original Blockchain and the fake one, the Masternode performs a verification and any signatures that do not match will be rejected and so the attack would have failed.
A Masternode is a cryptocurrency full node or a computer that keeps a full copy of the blockchain in real time for the benefit of the network.
To set up a Masternode on the TENT network, you can choose a number of options.
A VPS or Virtual Private Server is usually hosted by third party providers which enable Masternodes to be hosted with guaranteed uptime. A VPS may be more cost effective than running your own server in terms of energy/hardware costs.