TTC Protocol | A Decentralized and Incentivized Social Networking Protocol

ansteadm (41)in #blockchain • 6 years ago

TTC Protocol

What is TTC Protocol?

TTC Protocol is a decentralized social media protocol that involves a token-incentivized platform that enables users to receive value for generating, distributing, and sharing content with their peers. One of the first examples of how this protocol will be functioning in the real world is through their first DAPP developed through their platform, tataUFO, which has more than 10 million users to date.

The Team

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When looking at the platform of TTC, the team members, and their DApp, tataUFO, this project reminds me so much of Tronix in their early days, even though the industries they are disrupting are different. Justin Sun, the current CEO of Tronix, founded an app called Peiwo, and has 10 million users on his application. As I mentioned earlier, TTC already has a functioning DApp, which also has 10 million users on their platform, and is continuing to grow in it's user base! This being said, I want to take a closer look at two of their team members, Brian Cheong & Chase Chang.

Brian Cheong

Mr. Cheong is currently the Founder and President of TTC Protocol, and for those who are supporting this project, or have shown interest in it, you will be happy to know that this man is leading the reigns for the project. He reminds me so much of Justin Sun, with how Brian Cheong founded his app, tataUFO, back in 2012, and has now enabled it to become the success story that it is today. He was able to receive large investments and funding into tataUFO from well known organizations such as Lightspeed China Partners, Ameba Capital, SoftBank Ventures Korea, Korea Investment Partners and Union Investment Partners.

Chase Chang

Mr. Chang is currently the VP of TTC Protocol, and personally, I think that he is stationed to give the organization one of the most priceless benefits to their ecosystem. Connections. While a majority of the organization is located out of Korea, including Mr. Chang, he, however, studied at the University of Madison-Wisconsin. This gives him and TTC Protocol a direct connection to the United States! Aside from this benefit, he is definitely suited for the role to help take on the project, as he has history working as a COO, and VP of Global Business Development. These two position were at Retrica, and LINE Pay.

Investors & Supporters

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With the exponential amount of ICOs and different projects out there, it is always important to take a closer look into some of the different supporters and VC funds who are behind the project. Two big ones that stand out are GBIC and FBG Capital. Having these massive organizations backing TTC Protocol definitely gives investors and supporters of the project the trust they need to know that this is a forward looking project with a ton of value!

The Platform

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When looking at the entire ecosystem of TTC Protocol, it is interesting to know that once you are on one of the DApps within the TCC ecosystem, you are able to interact with communities and people on other DApps as well! Before diving into the actual DApps as a whole, why would developers actually want to build a DApp on their platform?

TTC created their own foundation, TTC Foundation, in order to give developers the incentive to want to develop their social networking apps on their platform. The TTC Foundation is able to airdrop tokens to the developers of the DApps to truly make it worth their while! Depending on how successful the DApp is in terms of new users, active users on the app, as well as advertising revenue for the first 28 days. The better the DApp does, the more tokens you receive! The protocol used to build all of these different DApps is available already with the technology in place to enable developers to build the different types of social networking DApps that they'd like, and even get rewarded for it! The protocol and technology behind their tokens uses DPoS (Delegated Proof of Stake), which enables for an extremely scalable solution, with an easy-to-use interface on the frontend, making this platform one of the best solutions available! You can also expect numerous DApps to also be brought onto their platform through acquisition and cooperation strategies. This will be one of avenues that TTC Protocol will be expanding their platform for more and more users. It actually reminds me of a lot of the massive tech giants out there, such as Microsoft, Facebook, and Google, who use acquisition strategy to strengthen their own ecosystem. The main difference between TTC and those other organizations is that TTC is decentralized, and through these acquisitions it will actually give more value to the user, developers, and the investors!

Within the DApps, like tataUFO, there are different ways to be rewarded, whether you're a user, or even a 3rd party organization!

Reward System

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For users, you are able to generate value from using these DApps whether it's through creating content, your reputation as a user, and even by watching advertisements. For businesses, you are able advertise on the DApps whether it's through surveys, displayed advertisements, and promotional content.

In my opinion, this platform is probably one of the most unique and innovative that is trying to solve many of the issues we deal with on social network platforms. For example, Snapchat, Instagram, Facebook, and others, all benefit directly from the advertisements, and the data that they receive from users. With protocol like TTC's, they are looking to completely change this by giving users value in what we already do on a day-to-day basis! For businesses, it actually makes watching advertisements not as much of a hassle because you know in the back of your mind that you're basically getting paid for your participation. This will most likely create higher PPC, and generate an overall better experience for users!

Roadmap

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Looking forward, one of the biggest achievements that TTC will need to overcome is to integrate tataUFO onto TTC's open platform. This will take an immense amount of effort and will give investors a solid idea with how things should look going forward for the organization. Most recently, TTC crushed their ICO. And recently being listed on exchanges enabling investors this instant liquidity will be extremely beneficial, and allow others to jump onto the TTC bandwagon right away will be huge (i.e. people like me from the USA who couldn't participate in their mainsale)!

The Token

While this project is still extremely early on in it's stages, the token has already gotten listed on multiple exchanges! It's being traded on UEX, and DEx.top, and the team is also in talks with other exchanges to be listed on in the near future! Due to NDA that information cannot be disclosed. It's not very easy to get a pin-point idea about how many tokens there are circulating at the moment; however, the total supply of the token is 1,000,000,000 TTC. One great thing to notice about the token supply is only 8% is going to be given to the team and the advisors! For many organizations you might see just the team alone receive about 20-25% of the entire supply, which doesn't create a decentralized atmosphere at all!

The token actually has a bunch of different application scenarios to give it usage on the ecosystem, which is extremely essential. You're able to purchase emojis, use third-party chat bots to receive vital information, polls (where you receive TTC by participating), gifting, and discount coupons. In addition to this, you're also able to receive value through content, your reputation on the different DApps! It'll be very interesting to see how many different other applications of the token arise over time as well!