A new social network security protocol to get launched based on Blockchain Technology
Apr 04, 2018 Posted / 1133 Views
A team of executives from Softbank(former), Line and Baidu have joined each other hand to take down social network security industry. Utilizing the Blockchain technology, the group is building up the TTC Protocol, a decentralized interpersonal protocol that prizes clients for creating, dispersing and collaborating with different clients and their social content.
In past years we have seen many new possibilities of Blockchain technology. Now, these same is being tested with social networking. Now the social networks use centralized data to store data. But this tech can make the data to be controlled by the user itself thereby making it a robust and more private network that prevents censorship.
It’s not the first time:
A few blockchain-based informal communities as of now also exist including Reddit-like Steemit, decentralized proficient system Indorse and Ethereum-based Minds. The TTC Foundation, an association in Singapore that is accountable for managing the TTC Protocol, is the most recent to join the list. It's building is set to "upset the present social network industry, organized around the exceptionally unified framework," Brian Cheong, administrator, and originator of the TTC Foundation. Moreover, he added that- While the majority of value on SNS is created by the presence, interaction, and contents of users, its commercial value is not distributed to users. A token-incentivized protocol will allow users to claim the commercial value of their rightful contribution.
About this new platform:
Like most existing blockchain-based social networking platforms, the TTC Protocol will compensate clients for contributing and will enable engineers to construct decentralized applications (DApps) over it. Moreover, the TTP Protocol will likewise include a promoting stage. TTC tokens will be the all-inclusive cash of the stage and will be utilized to buy notices, chatbots, emojis, coupons, and to send blessings and cash to different clients.
The TTC project first began as an ICO of tataUFO, but the team later saw more scope in this upcoming protocols.
Cheong also added that the Blockchain Technology will have a same disruptive tech wave as brought by web and mobile industry.
In the highly competitive social network industry, accomplishing scale is the way to progress, and with tataUFO's current 10 million client base, the TTC Foundation said it has a head start on its rivals. Before the year's over, the group would like to accomplish 100 million clients on the TTC Protocol.
Cheong added-“The value of social network services exists on and grows with the number of users on the platform. It is an industry where the sheer number of users can be closely linked to the value of the platform”.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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