As more and more people communicate and express themselves through social platforms, social platforms have gathered a large number of users and become an indispensable tool in our daily life. However, due to factors such as operating mechanism and commercialization, the current social network platform is becoming more and more centralized, so that a large amount of attention and traffic are only concentrated on a small number of top users, and the attention and benefits that ordinary users can get are negligible. This has resulted in less and less incentive for users to create content and interact. At the same time, most of the advertising revenue comes from the platform itself, and users only contribute traffic to various social platforms without obtaining actual benefits. In addition, some social media also involve issues such as copyright, false advertisements, and leakage of user privacy.
A few days ago, Odaily learned that TTC Protocol, a project party in South Korea, can solve the above market pain points.
TTC Protocol is a new generation social network based on decentralization and token incentives, supporting online communities, mobile communities and SNS, etc. The agreement wants to transform the social networking industry by using blockchain technology, rewarding users who contribute in the social network, and allowing developers to build decentralized applications (DAPPs) based on the platform.
TTC Protocol provides existing communities with an integrated and customized SDK based on blockchain technology for social platform access. Any developer can create or access their own Dapp and promote it in the TTC ecosystem. This model accelerates the completion of the ecosystem of its social network. The protocol adopts a multi-layer BFT-DPoS consensus mechanism. Multiple supernode producers selected in real time can guarantee the stability and efficiency of new blocks under the premise of fairness. The single-chain processing speed is thousands of transactions per second.
TTC Protocol hopes to build a whole ecosystem. In the ecology, the cooperative platform can integrate its own products with blockchain technology through the TTC Protocol; platform users benefit from the TTC reward mechanism, and users can obtain varying amounts of TTC token incentives; for user growth, TTC Protocol puts TTC tokens on the TTC wallet, which brings together applications of various access protocols, and users can realize one-click download binding, or they can choose their own needs applications, so that the accessed applications can obtain more potential users. At the same time, TTC Protocol stated that the current platform is connected to South Korean projects, but more other international projects will be connected to the platform in the future, so that the project parties connected to the platform can strengthen exchanges and quickly realize internationalization.
There are many decentralized social projects, such as Steemit, Peepeth, ONO, QunQun, overseas IM application YeeCall, etc. that have been reported before. In comparison, the advantage of TTC Protocol is that it starts from the protocol layer and is aimed at C-end users. At the same time, cooperating with mature social platforms in various regions of the world can quickly form user scale and network effects in the early stage. At the same time, TTC Protocol stated that due to the friendly attitude of South Korean citizens towards digital currency, the cooperation between TTC and South Korea’s major social platforms can create a better realistic sandbox environment for the testing and release of its ecosystem, and provide a better environment for technology development. Auxiliary environment.
At present, the TTC test chain has been launched and is undergoing public testing; the TTC wallet has been developed and can be downloaded and used normally. The social APP tataUFO has begun to be connected to the TTC ecosystem. The application has 13 million users and is currently in the testing stage; the video processing APP Alive, which was acquired by TTC in July this year, is also being connected to the TTC ecosystem. In addition to its own two APPs, TTC has confirmed that it has reached cooperation with four Korean APPs, and will also complete the access to the TTC ecosystem in the future. They are: Pikicast (content interaction platform), Cobak (a mobile community that brings together Korean cryptocurrency enthusiasts ), Womans Talk (a fashion and beauty video business platform) and SocDoc (an anonymous mobile community for women). TTC Protocol said that after all these applications are connected, the number of users in the ecosystem will reach 30 million.
The TTC team has about 50 employees, more than half of whom are technical and product teams. The founder and CEO of TTC Protocol, Brian Cheong, graduated from Peking University with a bachelor's degree in economics. He created the social platform tataUFO, worked for Softbank Ventures Korea, and served as an information technology consultant for the government of Central Java, Indonesia for two years.
In terms of financing, the project has received investments from cryptocurrency funds such as Hashed, FBG Capital, GBIC and Dunamu & Partners.
