In statistical theory, the Tsallis entropy is an extended form of the Boltzmann–Gibbs entropy. The dimensionless parameter [Formula: see text] is employed to state the quantitative difference from the standard scenario. The concepts of Tsallis entropy and the future event horizon are employed in formulating the present new Tsallis holographic dark energy (NTHDE) model. The model attempts to explain the properties of dark energy using the foundation of quantum gravity. The differential equation characterizing the evolution of the NTHDE density parameter is obtained. Expressions stating the dynamic behavior such as equation of state (EoS), deceleration and jerk parameters are obtained in terms of the NTHDE density parameter. For [Formula: see text], the quintessence nature of scalar field could completely characterize the NTHDE. A reconstruction of the scalar field’s dynamics and quintessence potential is attempted. We demonstrate that the diagnosis made by statefinder is adaptive enough to distinguish between quintessence and cosmological constant-based dark energy models. Additionally, observational data obtained from CC[Formula: see text] SNIa [Formula: see text] union 2.1 sources are used to evaluate the model’s effectiveness.
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