iMorpheus, the anonymous cryptographer and the founder of TAU Coin and their new Proof of Transaction (PoT) technology reveals his identity.
PoT, the technology invented by iMorpheus, is a brand-new consensus mechanism where users collectively maintain the network security through everyday economical behavior – transactions measure over one year. In PoT consensus, no advantage is given to accumulating wealth and hardware. In terms of security, fairness, and environmental friendliness, PoT is the best choice.
The TAU Coin ICO is currently set to start October 15, 2018, with an expected year-long ICO comparative to that of EOS.
Until just recently, the founder of TAU Coin had chosen to operate under the pseudonym “iMorpheus”. This is somewhat common in the cryptocurrency space. The original founder of Bitcoin still remains speculative in fact. In addition, many prominent names on Twitter in the crypto space currently keep their identity secret.
Who Is iMorpheus?
iMorpheus recently made his identity known. His real name is David Wu. David is a “guru in computer and fin-tech”, and has had previous success, as the founder of DWFund.net, co-founder of Rong360, executive director at MOLBASE Chemical Database, and senior software engineer at IBM. He also has a Master’s degree in finance from Columbia University of New York, and a Bachelor’s degree in engineering from Shanghai Jiao Tong University.
I had a chance to ask Mr. Wu a few questions about his intriguing Proof of Transaction coin TAU.
What was your personal inspiration for creating TAU?
I was born in a region with high currency inflation that prevents the working class to accumulate wealth for family and health. A pervasive circulating currency without inflation is the ultimate tool for people to enjoy the abundance of the planet. A cryptocurrency that is able to resist pressure from G20 governments is potentially possible with the maturity of the internet, and mobile knowledge. POW and POS are two experiments ending in over-concentration on off-chain hardware and coin hoarding. TAU is a new experiment using massive users’ daily economical behavior and transactions to protect network security and grow the blockchain.
Who would use TAU Coin, why, and what for?
At least 5 billion people in this world do not have access to low inflation currency as we see in Turkish and Argentina this year. These 5 billion people collective wealth from mind, labor and time need a decentralized medium for storage and circulation. They form up the fundamental demand for a pure crypto currency in the next 100 years. Therefore top pervasive crypto currencies will be used in every situation and every where by people lacking of access to non-inflation currency and non-infliction banking system. Hope this clears who, why and where. Tau aims to be second to bitcoin to serve above demand. TAU and bitcoin are similar in their target audiences and use case, which is basically a substitute for fiat currency. It’s our expectation that Tau’s fairer mining process leads to higher adoption rates and our fee structure will be welcomed by more vendors.
What are a few upcoming announcements or pieces of news that we can announce for you?
Main-net will be turned on Sept 15th.
ICO will be on Oct. 15th. One million coins will be available daily to buyers. Such as EOS ICO, there will be no set price. Price is the total BTC received in daily pool divided by one million, and each buyer will receive coins after daily closing at proportion to the pool.
Will TAU eventually incorporate mobile app use?
Yes, we will provide a mobile wallet as well as an app store that supports TAU.
What is the most important aspect you see TAU changing in crypto and blockchain?
TAU is working on the new consensus, Proof of Transaction, which has never been built at main-net scale. We incorporate additional innovations such as an on-chain mining club, automatic block size and time, and special transaction types such as club wiring and signal wiring.
It will be very exciting to see how TAU develops, with their PoT technology, as well as their year-long ICO process.