At Bitcoin, every high-quality Bitcoin network customer stores the entire transaction history. In a money system like TREEEC, which should be able to handle millions of transactions per second, that would lead to an unjustifiable slowdown making it impractical. Nevertheless – and that distinguishes TREEEC MONEY from FIAT-Money and other alternative money – all transactions and protocol building blocks are stored as forgery-proof blockchains. For this we have further developed the classic blockchain and adapted it for practical use at TREEEC.
The storage of our blockchain happens in the hierarchical and parallel overlapping peer-to-peer system of TREEEC implementing a division of concerns. The peer-to-peer system consisting of the TRUST HOUSES registers the data defined as hard protocol modules of the monetary unit itself plus the data of the current transaction and the current authorized owner as a shortened determined blockchain.
The parallel-overlapping peer-to-peer system, consisting of DATA CITADELS, permanently registers and updates the complete blockchain of every single unit of TREEEC MONEY – and connected Smart Contracts in full – as well as the determination codes, and manages the release codes for each transaction. To increase the computing power, in contrast to a classic peer-to-peer system, at this level a ternary clustering, i.e. the division of labour between all three DATA CITADELS, is scheduled. Overall, this will enable synergies that significantly increase the efficiency of the system.
But there is also a third level of registration by small, clustered registration computers, which work like a kind of buffer memory and can also give provisional transaction releases to a fixed limited amount of TREEEC MONEY. This is important at places, where no or only weak data transfer options with low capacity exist – and for example in cases of massive crisis and catastrophes.
Just realize that the Bitcoin network is only able to handle a maximum of 7 transactions per second for the millions of users worldwide. In addition, Bitcoin block chain transactions are recorded only once every 10 minutes. That’s another reason why Bitcoin and similar cryptocurrencies are no real competitors for functional money like TREEEC MONEY.