Tutellus, a blockchain which pays students for studying, has announced that it would be migrating from Ethereum to NEM (XEM) as the latter offers several advantages such as cost efficiency, speed, facility to develop internal blockchains, APIcentric model, impressive JS Library, etc.,
However, Tutellus has clarified that Ethereum is still a powerful blockchain facilitating the creation of smart contract and the decision to migrate was taken purely based on the certain unique requirements.
In a blog post, Tutellus has provided seven reasons for migrating to NEM. They are:
1. Huge community and Top Blockchain
According to Tutellus, NEM (New Economy Movement) or XEM (the token) is one of the most relevant projects by marketcap ($3.5b). Furthermore, there is a very important community of developers worldwide, with products created in partnership with large companies like WeChat.
2. NEM is very fast and cheap
While Ethereum runs up to 20 transactions per second, the current version of NEM (running on Java) runs 1,000. The new version, Catapult, written in C++, runs up to 4,000 transactions per second.
3. Enables development of internal blockchains with NEM connected to the MainNet
Tutellus has pointed out that NEM allows consolidating n-thousand transactions per user in their own blockchain (zero cost of consolidation) and connect it to the main network only to send and consolidate certain information.
4. Governance: NEM’s consensus algorithm (Proof of Importance, POI) is closely aligned with the STUT token
Tutellus believes that NEM prioritizes the relevance of the users (POI) in a manner similar to the one it designs for the STUT tokens (measures the relevance of the users). Therefore, according to Tutellus, the mechanisms of governance and the importance of the users are aligned in both projects.
5. NEM has a APIcentric model, like Tutellus
Both Tutellus and NEM technology are based on APIs. The compatibility of both is absolute and its integration, fast.
6. JS library
7. NEM Foundation
Tutellus team has met important people (founders to developers) in the NEM project and have a high opinion about them.
Having listed the advantages, Tutellus said
“top respect for Ethereum: thanks to this network cryptoEconomy is entering in the mainstream. An excellent blockchain very well adapted to a lot of projects and with the biggest ecosystem.”
Tutellus is the first educational platform that pays students for learning (proof of learning) and remunerates the teachers according to their impact in the success of their students (proof of teaching).
The platform is using blockchain technology. At the core of the new system is the creation and management of digital assets, or tokens, that will become the foundation of a new reward system for students and teachers. The platform will measure the commitment of the students and teachers, as well as the educational value that they provide in the platform, and will provide a measure of relevance through an internal STUT token.
Elements, which will make the project succesful (according to Tutellus)
• A business model at work since 2013 with a community of one million users and 130,000 video courses.
• A platform that pays users for their actions and contributions.
• An application of blockchain technology that answers perfectly the needs of the online educational market.
Tutellus uses two kinds of tokens: TUT and Smart TUT (STUT).
TUT will be used as the platform’s currency and to interact with other platforms and currencies.
STUT will not be directly tradable in fiat, and will be granted to reward users who contribute educational value to the platform and as a measure of the quality of their participation. The value of TUT is dependant on demand and supply. The value of STUT is always €0.01. A student will get STUT on successful completion of a course. The value of STUT received can be a maximum of 100x the value of a course. For example, if the value of a course is €30, then the maximum STUT coins that may be offered upon successful completion of the course would be 30×100 = 3000 STUT tokens. STUT can be only traded within the platform.
Advantages of Tutellus
• Students can earn money learnings, without paying.
• Students gain the motivation to help others to learn.
• With the success of their students, teachers themselves get more value out of teaching.
• Companies can hire employees with a highly efficient matching process.
As per the roadmap, we can expect ICO to commence in 2018.