In a follow up to my article from a couple of weeks ago about the TTC protocol (Link: https://www.reddit.com/r/ethtrader/comments/9ajaox/ttc_social_media_rewards_protocol/) I am going to go into a bit more detail about what the project is and how it hopes to change the way we use social media and different networks online.
Decentralization
One of the main points of the TTC protocol is to reward users with TTC token incentives. TTC is planning to do this is through signing up and acquiring existing social platform and decentralizing the structure of their networks.
Decentralization offers users a more transparent and practical way of sharing data and viewing another users’ content. There will be less manipulation and questionable actions like we have seen with companies such as Facebook’s Cambridge Analytica scandal and Twitters recent mass account bans. It also lets social media users get the chance to earn rewards for using social media, which isn’t very commonplace across the industry.
Economic system
The economic system of the TTC protocol is an interesting one, they have split rewards into three different categories. The three categories are content rewards, reputation rewards and advertising rewards.
Content Rewards
Content rewards is pretty much what it says on the tin, when a user posts their own original content or engages with someone else’s they have the opportunity to earn TTC rewards. The level of their reward is decided by an accounts reputation on the platform and the level of interaction the post gathers, exposure is another important factor. The more people that view and interact with the content garners a higher reward for the original poster. On the other hand if a users content is reported or flagged as spam their overall rewards will be reduced and it could affect their reputation level on each platform.
Reputation Rewards
The next type of reward I want to highlight is reputation rewards, I mentioned how it affects content rewards in the paragraph above, but I am going to explain how a user gets a higher reputation on a platform. A user’s reputation is calculated by looking at several account details:
- Length of membership and amount of contributions made to the platform.
- Quality of the content created and shared.
- Size of following.
- Participation in auditing reported content (e.g. thread moderation).
The maximum reputation value a user can get is 100 points. Every user starts at 1 point and each action they complete from the list above earns them points to help reach the upper echelons of membership reputation. It helps to have a higher reputation because this means a user’s content rewards will hopefully be a lot higher and users will earn more TTC tokens.
Advertising Rewards
Advertising rewards are earned by engaging with content that has been promoted or featured by an advertiser on a platform. Advertisers will purchase TTC tokens and use them to bid on TTC’s advertising network. The higher bid then the higher chance and advertiser will have in gaining more interaction. TTC takes a cut of the tokens used for advertising and this cut is used to cover the maintenance costs of their advertising network.
There are three different types of advertisement styles that advertisers can pay for and promote on the TTC protocol, the first is a promotional campaign. Promotional campaigns are run by advertisers that want users to create content that is related to their company and follows the rules set by the advertiser, for example writing a post about a new car or making a video about a new TV show that has been released.
Another style is display advertisements, these are the kind of ads we see on existing social media platforms like Facebook, Twitter and YouTube. These adverts are typically in a video format and the user must watch the ad first to unlock the content they want to see. The only difference is the user will earn tokens for watching the advert and engaging with it afterwards, perhaps in the form of giving it a rating and stating if they enjoyed the video or if it was something they might be interested in. This will help the TTC protocol team learn the user’s preferences in terms of adverts and it will stop the user from seeing adverts that have nothing to do with their interests, hobbies or profession.
The last type of advert the TTC protocol will offer to users is a customer survey. Surveys are another very popular form of advertisement as it allows an advertiser to get feedback from a real person and lets them understand more about their target market. Again, users will be rewarded for their participation and it is another way for them to grow their TTC wallets.
Translators Recruitment
The TTC team is recruiting new members to expedite the translation program of the white paper. The languages that TTC need translations in are; Japanese, Vietnamese, Russian and Indonesian. The work will be carried out on the ‘Crowdin’ community source platform.
Those who are chosen for the translation project will be granted early access to viewing our Whitepaper and will be working side by side with TTC Protocol. The project will be organized as a bounty program with a bounty of 10,000 TTC for each language. The bounty will be Airdropped according to the translator's contribution.
If you are interested in translating TTC’s whitepaper into one of the languages named above or know anyone that might be then please use the following Google Form to apply for a position: https://docs.google.com/forms/d/e/1FAIpQLSe7d-FPvrvG3I9Ub3Cif_k_hborQ0hEp1BBygHkobFd5DviqQ/viewform
Please bear in mind you must have strong grasp of the language you are translating to and you should have extensive cryptocurrency knowledge. Read more about the translation program here: https://www.reddit.com/r/CryptoMarkets/comments/9eo6z5/ttc_protocol_translators_recruitment/
Summary
I hope to write another article about TTC soon, they have so many different features that I could potentially write a whole series about. I hope this article helped more people learn about TTC and potentially gain them some more exposure.
TTC are running an airdrop where you can earn 8 TTC tokens (currently $0.32) by signing up with your telephone number and enter your verification code: http://airdrop.tataufo.com/
To find out more about TTC then check out the following links.
TTC Links
Website: https://www.ttc.eco/
Ecosystem Whitepaper: https://d1u6eqogwsdivn.cloudfront.net/whitepaper/TTC_Ecosystem_v01_EN.pdf
Reddit: https://www.reddit.com/r/TTC_Protocol/
Facebook: https://www.facebook.com/ttceco
Twitter: https://twitter.com/ttceco
LinkedIn: https://www.linkedin.com/company/ttc-protocol/
Medium: https://medium.com/@ttc.eco
TTC Contact
Kakao Talk: https://open.kakao.com/o/gmvFnaN
Telegram: https://t.me/ttc_en
Email Address: official@ttc.eco