Tolar (currency)


Whitepaper: here

Public crowdsale start date: last week of August (opened presale and ICO whitelist)

ERC20 token (Tolar; ticker TOL)



Tolar is an open source, community governed crypto-currency featuring scalable, fast, secure, and fair transactions”, as it is stated on their website. Cryptocurrency Tolar includes open source platform with newly developed consensus called HashNet. Team very often describes it as having similar features to blockchain but with much higher transaction per second (TPS), up to 200,000 TPS and lower energy consumption. HashNet consensus uses “redundancy reduced gossip” and “virtual voting” protocols which are based on a distributed computation and byzantine fault tolerant consensus (BFT). It is a relatively new consensus and probably you have heard about it if you were researching NEO cryptocurrency, which uses delegated byzantine fault tolerant (dBFT) consensus mechanism. The Tolar’s main innovation is efficient asynchronous distributed consensus protocol on a directed acyclic network structure. Don’t worry if that sounds too much because a lot of people are not familiar with cryptography on this level. We will not go deeper in the description because everything can be found in their whitepaper or can be asked in Telegram group. Just to add in the end that consensus protocol belongs to a class of gossip-based protocols and Hashgraph is another project which makes use of it. According to Tolar’s whitepaper, these protocols have advantages over structure-based group communication algorithms as they can handle large group sizes, sporadic sources, high user churns, and random network failures. At figure 1. there is great comparison of Tolar’s features with some of the cryptocurrencies.

Figure 1. Tolar compared to some of the established cryptocurrencies [1]



  • hard cap: 57,000 ETH (max $35 mil)
  • soft cap: $10 mil
  • total supply of tokens generated:
  • percentage sold: 35,00%

> private sale: 21,0%

> pre-ICO: 5,25%

> public ICO: 8,75%

  • bonuses:

> private sale bonus: 20,0%

> pre-ICO bonus: 10,0%

  • token price:

> private-sale: 0,094017 USD

> price per token in pre-ICO: 0,102564 USD

> price per token in Public ICO: 0,112821 USD

  • token allocation:

> 35% investors

> 20% founders

> 32% TOLAR Development Fund

> 8% Proof of Stake Network Start Nodes

> 2,5% Developers

> 2,5% Advisors

  • token lockup:

> No lock on main tokens

> 3 months for bonus tokens

> 24 months for team on all tokens



The team consists of 24 team members and 4 advisors. Team is divided in 3 groups, that include foundation board (8 members), HashNet tech (8 members), HashNet business (8 members). Besides founder/CTO Josip Maricevic, we didn’t find that any of them has previous experience with blockchain. Overall, they have broad spectrum of talents.

Josip Maricevic – Founder/CTO

  • Graduate Engineer of Computer Science, University of Zagreb
  • blockchain working experience from Blocknet core development and atomic cross-chain swaps implementation
  • as it is stated on his LinkedIn profile he is an owner and developer at mobile app development agency which also offers services of developing custom blockchain based projects, alternative cryptocurrencies and Ethereum smart contracts
  • experienced iOS developer
  • 500+ connections on LinkedIn

Drazen Kapusta – principal

  • broad business education from Harvard Business School, International Institute for Management Development, Kellogg School of Management to Cotrugli Business School
  • principal of Cotrugli Business School for 18 years, a very prominent school in East Europe
  • director of Mercuria branch in Croatia for 21 years, global energy & commodity-oriented company
  • over 5000 followers on LinkedIn

Mario Vojvoda – CIO

  • Bachelor of Telecommunication and Informatics, University of Zagreb
  • CTO at Iskon Internet d.d. for 5 years, one of the main Croatian internet providers
  • IT director for 2 years in Hrvatski Telekom PLC
  • 1500+ followers on LinkedIn

Igor Jerkovic – Core Developer

  • Master of Computer Science, University of Zagreb
  • Software engineer at Facebook for more than 1 year. Also, software engineer at Bellabeat, smart piece of jewelry that works with app and tracks woman’s activity, sleep, reproductive health and helps her relax with guided meditation exercises
  • 390+ followers on LinkedIn

Bojan Hadzisejdic – BDM

  • Master´s degree, Electrical Engineering and Computing
  • Business Development Manager at Microsoft for 7 years
  • 1170+ followers on LinkedIn



  • HashGraph – unlike Hedera Hashgraph, Tolar supports interoperability through different chains. Hashgraph is going to be patented which means that public contributions and use of the protocol will be supervised by the company. This way there is no crypto community core idea of decentralization behind the project. Hedera didn’t encounter any problems with gathering $200 mil for project development, which makes us believe that Tolar will also not have.
  • Hedera Hashgraph is the closest competition to Tolar but projects such as QuarkChain and Fantom can also act as possible competitors




Area in which Tolar is attempting to operate already has some of the competitors. If Tolar plans to become a major player in very competitive blockchain sector, they will need to work more on marketing, public relations and on niche market sector. However, there is still need for a project that can scale effectively and process transactions fast and secure.

Token price mostly will depend on exchange which will be chosen as the first one to list tokens. Also, project promotion isn’t the most astonishing one so after the listing, project visibility needs to be complemented with technology breakthrough. Team behind Tolar looks ambitious in realization of the idea and for now there is nothing but hope that they will stay like this. Presentation on June 28th where they will show how fast their product is, will seal the future of the ICO success and project overall. If the team stays consistent in development, the project can become good long-term investment.  Investors interested in short-term investment in Tolar may want to wait if the project achieves some legitimate hype before ICO.



  • Live presentation of the Tolar HashNet prototype where they will show current rate of progress with a speed of over 100.000 TPS (June 28)
  • Open source
  • Scalable and secure, faster than most of the blockchains nowadays
  • 35$ million Hard Cap is fair if we compare it to Hedera´s Hashgraph



  • Project lacks marketing activities and the PR is very poor
  • They removed Telegram group and now they only have 240 members – we didn’t find the reason behind this move
  • In Q2 2019 they will release HashNet chain and switch mainnet to HashNet protocol
  • No partnerships announced so far
  • Many people from the public presentation audience complain about unimpressive presentation by CTO and other team members
  • Visually poor website
  • Until June 28th when they will present the project’s level of development, there is no any evidence of technology possession



[1]      “Tolar | HashNET | Beyond Blockchain Technology.” [Online]. Available: [Accessed: 15-Jun-2018].


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