⚠️ On March 31st 2019, TTC Foundation launched its own blockchain solution, TTC, and rebranded TTC Protocol as Acorn Protocol. This article was published before the separation. [Read more]
TTC Protocol — Fireside Chat QnA
TTC Protocol hosted the first fireside chat on December 11th, at Seoul. The event was open to invite-only 20 community members to have a provocative and in-depth discussion about the current market and the future of TTC Protocol. The event had a friendly and cozy atmosphere, many interesting questions were asked by engaged community members. The well thought out questions were answered by Brian Cheong, CEO of TTC Protocol, and Chase Change, VP of Ecosystem along with some interesting insights of the matter.
Here is a summary of the questions asked by the invitees and the answers given by the two executives of TTC Protocol.
Q: The “Rigi” mainnet is set to launch during the 1st quarter of 2019, what are the specific steps?
A: As the testnet is launched and being constantly debugged, the testnet will be updated once more through a hardfork that will commence in about two weeks. Along with the scheduled update, the TTC Reward Engine (TReE) and the Multichain solution is under further development at the moment. Both are being internally tested and will be technically complete sometime next mid-January. After the Representative Voting concludes, all prepared technical aspects will be officially released and the mainnet launch will be complete around late March.
The Representative Voting is an essential step prior to the mainnet launch. The Representatives, better known as “Supernodes,” will be responsible for producing blocks and sustaining the TTC Blockchain. However, due to issues beyond technical difficulties, such as marketing, we expect it will take about 2~3 months for the nodes to stabilize. Long story short, we are preparing for various scenarios in regards to a proper mainnet launch, but mostly focusing on technical developments as of now.
Q: When will the Representative Voting commence and how will it proceed?
A: Since Representatives play an essential role within the TTC Consensus, marketing efforts on a broad scale will be made. Anyone who is a holder of TTC can apply for the candidacy of a Representative; nonetheless, a strict verification will be carried out among all candidates. Representative Voting will be followed by the launch of the “Rigi” mainnet and TReE, allowing the TTC Ecosystem to be fully vitalized.
Q: When the payment module is applied, will it only be available on partnered DAPPs?
A: Partnered DAPPs and potential partners with payment functionalities such as online shopping malls can easily apply the TTC SDK to support TTC payments. This will allow numerous users within the TTC Ecosystem to use TTC to pay for goods and services. For example, a startup which develops games can launch their product directly onto the TTC Ecosystem without launching it on Google Playstore. This will allow the launched product to let its users pay for In-App purchases with TTCs. Launching products directly onto the TTC Ecosystem will be especially advantageous for startups since it can avoid being ignored and buried beyond recognition in a major app store. Moreover, when a product is launched in the TTC Ecosystem, it will be exposed to millions of users within the TTC Ecosystem via TTC Connect (mobile wallet app by TTC Protocol.) Though a game was used as an example, the payment module can be implemented into various services as Kakao Pay and Naver pay.
Q: What is the TTC Advertising Network? How is it managed and how is TTC utilized within the network?
A: The TTC Advertising Network allows advertisers to pay the TTC Foundation with TTCs to advertise their products. When an advertiser requests to advertise their product, the TTC Foundation will post their ads on to the relevant DAPP or DAPP. After posting, users of the designated DAPP will be able to engage with the Ad for compensation. For example, if users participate in surveys or watch an Ad until the end, they will receive TTCs. DAPPs which attract more advertisements, hence more advertisers, will be responsible for further vitalizing the ecosystem. And, since vitalizing the ecosystem is considered contributing to the ecosystem, DAPPs which attract more ads will be distributed more TTCs according to the TReE. When the userbase grows, it will inevitably attract more advertisers and circulate TTCs as there are distinct consumers and providers of TTC.
Q: TTC Protocol stated that the KPI for this year is to obtain 100m users. Is that still a viable goal?
A: It seems that it will be very difficult for us to officially share the big 100m announcement. It is true that as the market situation worsened, many services began to become more conservative toward the partnership. Yet, at the same time, we’ve seen more top-tier services leaning towards the partnership with us, as it became harder for a service to launch its own blockchain project.
In fact, we have added few more partners from different regions to the TTC Alliance Program since our last announcement, yet we are waiting for a right timing to share the announcement. We are doing our best to make the best out of the current situation work.
Q: How will TTC Protocol expand its alliance? TTC Protocol announced that tataUFO and four DAPPs from Korea joined the TTC Alliance. Is there any plans to further globally expand?
A: We are planning our market expansion through two directions: industrial vertical expansion and regional horizontal expansion. We will add more social network services from various industries in more countries, such as Indonesia, Vietnam, Thailand.
If you have any questions, reach us through our telegram channel and official email. We will continuously share updates and progress to the community. Once again, thank you for your support and interest in TTC Protocol.
— TTC Protocol
Bug Bounty Program
To better the TTC Protocol experience and improve its ecosystem, code enthusiasts are invited to join our community. Each individuals’ contribution will become part of a change which will impact billions.
Bug Bounty : https://hackenproof.com/ttc/ttc-protocol
Github : https://github.com/TTCECO/gttc
