About TTC PROTOCOL
TTC PROTOCOL is a decentralized and token-incentivized social networking protocol for the next generation of social platforms. TTC provides a brand new social experience; the platform is completely decentralized. This gives participating individuals a highly rewarding and dynamic user experience. With blockchain-based cryptocurrency, TTC will also offer cryptocurrency incentives via a token also named TTC.
Blockchain technology has gained traction in the internet technology industry. Simply put, a blockchain is a digital ledger that is used to record transactions involving multiple parties. It is decentralized and distributed. Notably, because record cannot be altered retroactively without the alteration of all subsequent information in collusion with the entire network, blockchain technology is considered to be secure (or “immutable”) by design. This makes blockchains suitable for keeping track events, medical information, financial transactions.
Low transaction speed
At its core, a blockchain network is still a network. Its main function is record and transfer data from one point to another. Transactions Per Second (TPS) is the term used to describe the transaction rate of a network. Bitcoin has a transaction processing capacity of 10 TPS, while Ethereum is able to handle transaction speeds of up to 15 TPS. In some extreme documented cases, it took several hours for a Bitcoin transaction to be confirmed. Scaling TPS has been an important area of research for the blockchain industry.
The concept of a blockchain isn’t widely known, and thus its adoption has yet to reach a critical mass that would allow blockchain to enter mainstream use. Despite its successful
application in fields of finance, insurance and healthcare, most of blockchain developments in the aforementioned fields have yet to reach the general public. At its current stage of development, blockchain still absent from the everyday lives most people.Social networking on the other hand, is a frequent daily activity for most people.
Multi-tier BFT-DPoS is a consensus algorithm based on the DPoS consensus, where multiple representative producers (Representatives) elected in real time can ensure the stability and efficiency of new blocks under fair premise. Its processing speed of a single chain can reach thousands of transactions per second without multi-chain parallelism or shared processing mechanism. It also uses the BFT mechanism to increase the speed of confirmation for each
transaction. Ideally, the time of confirmation is the same as the generation of a new block.
In each round of the mining process, 21 Representatives are selected to produce a block or record and synchronize transactions on behalf of all users. The TTC Platform rewards for consensus mining will be generated simultaneously with the production of the block. A Representative can receive rewards attached to a block upon successful production of said block. There are different consensus periods for TTC consensus mining. Each consensus period contains 10,512,000 blocks.
Multi-tier representative selection
There are multiple tiers for which Representative candidates can be selected to produce blocks, with different TTC probabilities according to the tier. The multi-tier Representative selection mechanism provides more opportunities to all participating candidates. It also increases the security and efficiency of the blockchain, as more Representatives are eligible to participate in block production. Voters can choose to vote for Representatives according to their rankings. Lower ranked Representatives will have a smaller total vote count.
TTC Pay provides an in-depth integration with merchant services. Related information such as product details can transferred during the payment. TTC Coin payment can conducted by simply scanning a Quick Response (QR) code, providing a smooth and seamless user experience. Developers can also accept TTC Coins as a payment method in DAPPs, which helps build value chain and attract more users. Anyone can provide TTC Pay as a payment method simply by integrating the TTC Pay Software Development Kit.
Brian Cheong PRESIDENT & FOUNDER
Chase Chang VP, ECOSYSTEM
Yuanyong Zhai TECHNICAL DIRECTOR
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