Majority of prominent social networks operate on advertisements displayed to the end user. Even for those networks that started off without advertisements incorporated them at a later stage. Most social networks allow users to sign up for free and in return they make use of the users’ demography and activity to sell out ads; sometimes those ads are forced on the user and the worst part is; those ads may not have any value to the user.

That is one problem of being centralized you have no control over anything and absolutely no returns for your content. We have been accustomed to this model for quite sometime now primarily because we do not or did not have an alternative.

However TTC Protocol is about to change that. TTC Protocol decided to go with decentralization to be able to achieve the change. Yes, I mentioned decentralization! This means users will be rewarded on the platform. As Users generate content on the platform they will be rewarded accordingly.

TTC Protocol is fueled by TTC token. The TTC token is a rewarding mean given to users as they generate content on the platform. It is also the mean used to make transactions on the platform be it to purchase services, or pay for ads. This means all beneficiaries on the platform will be using the token hence creating several token demanding entities.

It is important to note here that since TTC Protocol’s focus being social networks, the platform should be able to support billions of users and that is the case, even better, as more and more people join the platform the more valuable the token would become. Before I go on detailing how the platform rewards the users and the underlying mechanisms of rewarding; let us explore the possibility of the platform generating millions of users because as it is known the success of a social network platform or application is measured by the number of its users and it is not easy convincing users to use a given platform; it usually requires several years to generate a few millions if not thousands. You will be surprised to know that this is not the case with TTC protocol. TTC protocol currently has a dApp called tataUFO that has over 10 million users onboard mostly college students. What is more the dApp ran an airdrop and was able to land 500k participants in two days. Looking at these numbers one would confidently say that they have what it takes to successfully run such a protocol.

At this point Steemit might have crossed your mind; First off, true that Steemit rewards its users for the generated content but keep in mind that Steemit is a blogging application like tumblr or Medium but for the blockchain; it does not allow for dApps and also the barrier to entry is quite steep with Steemit driving off users before even generating content; while TTC protocol is set to allow for easy and fast adoption of different dApps on its platform.

Now, let us explore how TTC rewards its users. In the newer version of the whitepaper the rewarding engine (TReE) mechanism shifted to on-chain to create a transparent ecosystem and eliminate any chance of it becoming centralized. This means that TTC protocol will no longer be an ERC-20 token and they will have to work on their own blockchain. In that regard the development of mainnet has already began.

As with any blockchain technology a consensus has to be in place to ensure consistency and efficiency of operations within the blockchain. TTC Protocol opted for the multilevel BFT-FPoS. TTC Protocol has also mentioned in their updated whitepaper that the TReE algorithm has been improved to support different social networking platforms including the dynamic ones like the live streaming networks.

Since the multilevel BFT-DPoS is adopted this means that block producers are elected. Voting is based on the number of TTC tokens owned and with the improved rewarding engine TTC Protocol considers the voting process a type of mining. This means that voters will be rewarded for voting. This type of reward will be settled in real-time. Voters will use their wallets to vote and get rewarded instantly.

TTC tokens are also distributed on a daily basis to active users who contribute to the platform. There are three types of rewards on the platform that serve different beneficiaries. The first being the Content Reward which is awarded to those that contribute with high quality content and interact with other users. The second being the Reputation Reward which is awarded to those that are constantly active on the platform and those that constantly gain recognition from other users; the last type of reward on the platform is the Advertising Reward which is awarded to those that consume the ads or complete the different tasks on the platform like surveys.

For the first two types of rewards (Content and Reputation) the token issuance is from a fixed pool of TTC tokens while the Advertisement rewards are provided by the advertisers. This approach creates a cycle of demand and supply where advertisers would be buying the TTC tokens from holders through an exchange to publish their ads and users would be actively participating to obtain TTC tokens; sufficing demand and supply of token. The TTC tokens used here (for advertisements) are distributed directly to users that consume those ads.

The reward of content (Content Reward) generation is weighted, rendering different activities valued at different price. i.e, liking is not as commenting or sharing on the platform. The weight of a like activity is at 30%, the comment weight is at 50% and the share weight is at 20%. The weight is not the only important piece to calculate the rewarding value, the reputation of the person involved also plays an important role. The higher the reputation the higher the reward and if a content is reported the reputation is deducted. This begets the Reputation Reward. The Reputation Reward is calculated by summing the number of followers, their participation audit, the value of how often they return to the platform and interact and the value of the content they generate. As new users join the platform they start off with a reputation of 1. The highest reputation they could get is 100.

TTC protocol has made all attempts to favor users and create a platform that is fully decentralized. TTC protocol is an open protocol, so anyone can make use of it and start creating their own platform over the protocol. You might have wondered how does TTC protocol make its revenues? It is actually through the transactions fee. Every transaction to happen needs a fee and that fee goes to TTC protocol and its miners.

I am sure this got you interested because it sure did to me. I would advise you to go through the whitepaper as it contains more details on how the platform operates. Keep in mind though that the whitepaper has recently been updated with several important changes. The changes mainly revolve around the shift from ERC20 token to developing their own blockchain that uses the Multi-level BFT-DPOS. The updated whitepaper also details on how the rewarding engine was enhance to also reward voters. Here is a list of resources you can use to learn more about this project:

Whitepaper changes: https://medium.com/@ttc.eco/ttc-protocol-whitepaper-1-0-updated-8985712d43d2

Telegram (English): t.me/ttc_en

Telegram (Korean): t.me/ttc_kr

Email: [email protected]

Homepage : http://www.ttc.eco/

Facebook : http://www.facebook.com/ttceco

Twitter : http://www.twitter.com/ttceco