I try to use Titan and here is my understanding of the entire mechanism behind …
Well, I’ve recently come across a Map application ‘Titan’ and was drawn to its initiate. Out of curiosity, I dig up and with a bit of research done, learned the company operating behind is called the Hyperion. They meant to deliver an unparalleled, decentralized mapping service and totally break the rules. I would rather call it a challenging game other than a simple navigating map.
Imagining, you are taking a stroll in our community and find out the site information is out of sync at times. Or you are navigating somewhere new and found there’s no such place on the map. Something can be done to help.
On the application usage, so-called the Titan Layer is where we, as the user, directly engage. Users are always encouraged to perfect the existing mapping system by contributing updated location images to the pool at mobile ends. In return, the HYN token will be given to reward such behaviour. In this case, there has been a shift of identities transformation; the contributory becomes the HYN token holder, which mean he or she, get the admission ticket to the game.
With tokens on hand, holders can now access to the next level, Map 3 layer. Such a process is referring to micro-staking, the minimal staking amount to an individual goes to as little as 550 HYN Now, many may wonder, with an influx of participants coming to the second stage, what do we expect from here?
When reaching the Map 3 node, there is another round of identity updated. The essence of token holders are now distinguished, those with only a handful amount of tokens are referred to delegators, they are free to stake the available tokens to reliable node operators, with 550 HYN as the minimum delegation threshold, or retrieve the game.
Whoever has a relatively larger number of tokens can run for Map3 operators, via initiating unique Map3 nodes and welcoming more individual to stake in their community. Among the process, operators are encouraged to reinforce the total amount of staking by perfecting the credibility and reliability, and the minimum staking requirement for an operator is 55k. Once the token quantity reaches to 550K, it immediately initiates the node. Concurrently, it activates the 180 days lock-up period and leaves 7 days for delegator to decide, whether retreat or continue.
Just bear in mind, proof of work set the foundation and do the calculation for the work on Map3 layer.
The ultimate layer is called Atlas; a blockchain-centred network serves verification of the on-chain transactions and validation of settlements. Members involve more profound community contribution via re-staking and would compete for the 88 nodes, for the sake of block rewards. The competition allows block production, and the motivating mechanism is driven wholly by the proof-of-stake. Such consensus promotes the synergies and ensures the verification as well as settlement mostly. The general rules are rather intriguing. I wouldn’t say it’s mind-blowing, but it certainly is engaging and promising with efforts.
【The scaling period 】
The Genesis Scaling cycle synchronized with the staking process. Ideally, more staking means more participants to come in; the distributed risk and workload for each player is lowered on average. Therefore it’s great to have more people join in to disperse the decentralized map service. The purpose of scaling is to bootstrap a more organic growth in Map 3 system.
The scaling period changes over time and the amount of rewarded staking are diminishing periodically/ once per cycle. The scaling activity is done to motivate constant Map3 node production and to sustain profit. Operators whose skilled in community building will seek to be an expansionist.
Remember, on the Map3 layer, directed by the scaling cycle, if Map3 node’s minimum staking requirement is met, nodes would continue to split, operators get diminishing rewards. Conceptually, the Map3 node operators’ identity progress to an administrator by activating additional node. They shall earn bigger sayings and sizeable return, which enable them to proceed to the final layer. Of course, you could either opt for remaining on the previous layer for a more extended lock-up period or opt for advancing the nodes with better returns. Advancement requires Re-staking.
Why should I / someone USE and PARTICIPATE?
Example Shown
Say in one day, and I walk into a remote area, which is quite beautiful and relaxing. I take out my phone and wanna look up where am I, and how should I get there next time. Unfortunately, nothing is shown and the nearest location I can tell, is somewhere I walked past 20 mins earlier. So I have to follow my instinct to find the way back. How can I mark the precise location? To let more people aware of such a lovely place?
Don’t worry; Titan can help! Four simple steps, take you no more than 2 minutes, By simply click on the button, download the Titan map application, and snap some quality images nearby, upload to the Titan community. As long as the photos are verifiable, they remained in the network forever. Meanwhile, you, as a credible contributor, will be rewarded, tokens will go straight to the Titan digital wallet. Bear in mind. You earn by doing good!
Okay, now, some may ask, What am I going to do with tokens, I ain’t a fan of technology. It’s absolutely fine; three roles lay ahead of you. First, you could simply leave them on the Titan digital wallet.
Or, by regularly posting images, you become token holder and receive the admin ticket to the game. In this case, token delegator is your new identity. With little tokens on hand(min 550HYN), you might wanna delegate tokens and micro-stake them to an operator, in other words, allows a trustworthy agency to manage the assets.
If you do find it fascinating, please, run for the operators, be the agency. With a sizeable amount of tokens on hand (550K HYN minimal ), you are entitled with greater authority. See yourself as a portfolio manager, and you shall recruit or welcome more token holders to stake their assets to your pool. You could then leverage the overall tokens, other than just your own, to re-invest. That’s what we called re-staking, advance from the Map 3 level to the Atlas layer. Being an Atlas operator allows you to run for the 88 Atlas senate seats.
It’s worth to mention that the Map 3 layer and Atlas are often recognized as a 2-tier pillar, it’s mutual and interactional. The scaling period happened in Map 3 layer will direct the equal amount of effects in Atlas.
More details about Staking and Scaling are shown below.
How
The minimal staking requirement for a node on the first scaling cycle is 550K. Let’s assume I am operating a Map3 node with 750k HYN in total; it’s more than enough to enter the scaling cycle. However, only 550k of tokens can enter the standby stage (sit in the lock-down period ) and go through the process (potentially getting service incentives ). The rest of the 200k will sit in idle. Some may ask, what am I going to do with the spare tokens? Extra tokens cannot forge value until it goes into a valid node. The resting amount should find an alliance to convert. Otherwise, no profit is produced in this stage. To maximize profit, operators become aggressively acquiring new token holders and building additional nodes. Community expansion is the cornerstone to proceed. The next scaling period would follow a similar rule, with smaller required staking amount throughout the growth period…
Why
Supposing that, no operators would leave the redundant tokens in idle, since no return is made. The incentive mechanism is designed to encourage operators to undertake more responsibilities by monitoring and managing additional Map3 nodes. Crowdfunding is an effective way to recruit, by intaking new players, or spare tokens to the pool. Once meet the sufficient amount, operators can then activate another node.
Having the How and Why answered, it is clear that when the portfolio manager of one community, becomes two, or more, you may double your profit (seek for service incentive ).On the Map3 nodes, via acquiring as many nodes as possible, operators seek horizontal expansion and foster a vibrant ecosystem. In the end, when entering the Atlas nodes, players have bigger saying and decision making in competing for 88 consensus node committee via re-staking. Operators pursuit aggressive vertical expansion to cultivate the final prize (mining incentive).
Technical Aspect: Anti-evil
Remember, there are always bad guys out there, do bad rather than doing good, say in intentionally creating falseness, by uploading inaccurate images to sabotage the other user’s experience. What should we do, can we punish them from acting badly?
Yes, we do, in the future. TItan has its unique punishment mechanism, simply put, tokens retrieval scheme. Such a scheme is designed when assuming people aren’t anti-social. The underlying human nature determines the majority of the people would not intentionally do harmful matter to sabotage their self-interest, which is referred to as their existed tokens. If the POIs found to be purposely invalid and faulty, tokens will be wipe out exponentially.
Deliberate sabotage shall not be tolerant as it inconvenienced both users and the developers. Further punishing details is yet to be confirmed, but will be strictly regulated, for the sake of user satisfaction and data accuracy.
Note: Two different staking mechanisms
· POI (point of interest staking)
The launch of the POI is to maximize the validation process. Each contribution would be examined and approved by the rest of the community members. Theoretically, with more members join in, more organic and reliable the pool becomes. By guaranteeing the credibility and transparency, users can earn trustable seats and cultivate the tokens. The accumulated tokens can further be staked. With strong POI, token holders become delegator or operator.
Bear in mind, the reward and punishment mechanism kicks in to regulate the ecosystem. Only qualified information uploaded would be rewarded; otherwise, retrieval takes place and slash the amount of the tokens. User will be disqualified and unable to proceed to the next stage.
· Current staking system
In the current state, the community is growing and seeking further expansion. Therefore, the POI staking mechanism is yet to be validated. Users are welcome to contribute and upload information to the Mainnet
