SINGAPORE /ACCESSWIRE / February 2, 2019 / With more and more people communicating and displaying themselves through social platforms, social platforms have gathered a large number of users and have become deeply integrated into our daily lives. However, driven by centralized operations and the commercialization of user activity, the everyday user contributions are exploited by platform owners. In other words, most of the advertising revenue generated by traffic the users created are kept by the platform for themselves. Though some platforms attempt to provide a small portion of the revenue to their Key Opinion Leaders (KOL,) the amount is significantly low and it decreases the attention normal users get. Such current dynamics lead to a weaker and weaker motivation for users to create content and interact with others. Beyond the unfairness, current social media also carries problems such as copyright, false advertising, user privacy leakage, and so on.
Based on blockchain technology and cryptocurrency incentives, TTC Protocol can solve the above problems related to the social networking services and will bring about the next generation of social networking. TTC Protocol is able to be integrated into any online or mobile communities and social networking services. By fairly and transparently rewarding users who contribute to the social network and allowing developers to build decentralized applications (DAPPs) on the TTC Network, TTC Protocol will redefine social networks.
TTC Protocol provides an easy to customize and simple to integrate TTC SDK to existing online communities, allowing them to seamlessly become a part of the TTC Ecosystem. Also, by utilizing the TTC SDK, any developer can establish and access their own DAPP and promote it in the TTC Ecosystem as well. As the TTC Ecosystem is big in size, TTC Protocol adopted the Multi-level BFT-DPoS consensus to guarantee a fast processing speed of the TTC Blockchain. Multiple TTC Representatives are responsible for maintaining a stable and efficient TTC Network which is the basis of a fair and transparent TTC Ecosystem.
Applications for TTC Representative Candidacy is Now Open: https://www.ttc.eco/#/representative
TTC Protocol will achieve the mass adoption of blockchain by creating a wholesome TTC Ecosystem. Other than TTC Alliance DAPPs, third-party services such as online shopping malls, games, and much more can also become a part of the TTC Ecosystem by simply utilizing the TTC Pay SDK. As the ecosystem grows, more users will be attracted and their contributions to the various platforms will be rewarded. Such contributions include posting, commenting, liking, sharing, logging in, and so forth. All TTC rewards will be distributed into TTC Connect, a personal mobile wallet app, where users can manage their assets and use it as an SSO to access the list of all the DAPPs and services on TTC Protocol. Currently, TTC Protocol has announced 6 TTC Alliance partners, 4 of which are based in Korea. Nonetheless, TTC Protocol has been aggressively expanding into the SEA market and has expressed plans for expanding into the Western market as well. More projects will be joining the TTC Ecosystem very soon which will accelerate TTC Protocol's growth and total globalization.
There are many decentralized social networks such as Steemit, Peepeth, ONO, YeeCall, QunQun, and many others have emerged in recent times as well. However, unlike other decentralized social platforms, TTC Protocol's expansion strategy is B2B. Thus, the user growth of TTC Protocol will not be linear like other platforms but rather exponential. The B2B expansion model correlated with the fact that most initial DAPP partners are based in Korea is expected to trigger a network effect. As the Korean public is familiar with cryptocurrencies and Korea can create a better sandbox environment for the early stage of the TTC Ecosystem, better auxiliary environment for the development of technology will be available..
The TTC test network Merapi has undergone various public penetration testings, compatibility testings, and recently, a hardfork to increase its stability and scalability. Moreover, as the main network launch approaches, the UX and UI of the mobile wallet app, TTC Connect, is being further improved. tataUFO, a lifestyle sharing APP that has 13 million users has been tested for compatibility with TTC Protocol and will soon be prepared for launch into the TTC Ecosystem. A video editing and sharing APP ALIVE, acquired by TTC Protocol in July of last year, is also getting ready to be integrated into the TTC Ecosystem. Beyond the two internal DAPPs, TTC Protocol has added another 7.5M users by announcing partnerships with four additional social platforms from South Korea: Pikicast (a key mobile content platform for millennials), SocDoc (Korea's #1 anonymous mobile community for women), Womanstalk (Korea's first and largest fashion-beauty video commerce platform), Cobak (Korea's #1 mobile community for cryptocurrency enthusiasts). TTC Protocol indicates that when all these applications are plugged in, the ecosystem will have 30m users.
TTC Protocol has about 60 teammates, more than half of whom are product designers and technical staff. Brian Cheong, founder and CEO of TTC Protocol, graduated from Peking University with a bachelor's degree in economics. He founded tataUFO, a social networking platform, worked at SoftBank Ventures Korea and served as an information technology consultant for two years in the government of Indonesia's central Java province.
In terms of funding, the project has been funded by Hashed, FBG Capital, GBIC, and Dunamu & Partners.
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SOURCE: TTC Protocol
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