TTC Prptocl ICO join How to FAQ
TTC Prptocl ICO join How to FAQ
*In which language can I register for the KYC application?
Both Korean and English are applicable.
*Where do you use the data collected from KYC process?
We will use the data only for the purpose of identifying the contributor,
and except minimum amount of data required for legal issue,
all will be discarded after the KYC process.
We value your private information!
*Will there be an issue with the transaction speed with m
As the number of users of DAPPs on TTC Protocol increases,
there could be a problem, where handling the transactions takes a long time.
To tackle such issue,TTC Protocol is implementing a balanced on-chain and
off-chain transaction service at the beginning.
Your actions are first recorded as an off-chain, and then synchronized to the
on-chain on calculation.
The hybrid solution represents a semi-centralized system that enables all users
of the TTC system to enjoy a relatively smooth and consistent experience.
In a long run, we are planning to build our own mainnet by 2019.
*By when should I submit my KYC application?
We recommend you submit it as soon as possible,
simply because it takes up to 72 hours to finish the KYC process.
To learn more about KYC process, please see our blog article.
*Do you plan to build own mainnet? If so, by when?
Yes. We plan to build the own mainnet by 2019.
*What can I do with TTC tokens?
Users: From a user's perspective, there are three main channels to use the tokens.
1.In-App Purchase: Any DAPP on TTC Protocol could replace their current
IAP to be paid with TTC token.
Gifting Purchasing contents (e.g. Stickers) Purchasing service (e.g. Chatbot)
2.Transfer: Any users holding tokens can give/transfer tokens to other users.
3.Cashing out: Once TTC token goes live on exchange, users can convert their
TTC token into cash anytime.
Advertisers: Any advertisers who are willing to post Ads on DAPPs of
TTC Protocol must purchase and pay the fee using TTC tokens.
*When and how does TTC distribute the token incentive to users?
We plan to distribute token-incentive to every users at GST 24:00, every day.
The token will be directly deposited to TTC wallet of each user.
How do I know that this project is not scam?
Great question. Please refer to articles and videos,
which could help you to understand about Brian Cheong,
CEO of TTC Protocol and Founder of tataUFO.--- [Yicai Brilliant 20 - Brian Cheong]
[2017 Korean in China] - In Korean --- For more information,
please check out the Forbes article (in Korean) of Brian Cheong.
*What do you recommended for gas fee and limit?
Currently, we recommended gas fee 20 Gwei and gas limit for 400,000.
*In consideration of the reward system, is it more advantageous to enter in the early stages?
Yes, that is correct. Those who join earlier may receive a greater amount.
As advertising costs are correlated to the amount of traffic, the number of
users increases > ad revenue increase > ad demand increase > coin value increase.
*Do you have a minimum amount of ether allowed to participants?
The minimum amount of ether required to participate is 0.1ETH.
*Did TTC receive investment from Softbank Ventures?
No, not directly. Softbank Ventures has made a strategic investment in TataUFO,
the first DAPP service of TTC. However, there is a deep tie between TTC and
SoftBank Ventures. Simon Kim, Founder & Head of Hashed, which is the lead accelerator of
TTC Protocol, joined SoftBank Ventures as a venture partner in March 2018. TTC is the
first investment/acceleration program from Hashed after Simon joined SoftBank Ventures
as the venture partner.
We are receiving full support from both parties to challenge the traditional centralized
social networks. --- Softbank Ventures is an investment subsidiary of Softbank Group of
Japan and has invested in IT/Tech/Mobile industry for 10+ years in Korea. You can find
more information from the official website (http://softbank.co.kr/portfolio.php)
*How does the system control abuse?
Worries regarding abuse is controlled through the TTC token economy.
There is a limit to the reward one can receive from simply doing a large number of
specific actions. Content, reputation, and advertising are also weighted.
The amount of token rewards one can receive is capped from simply posting a lot of
content or liking and commenting on posts.
Before content reward is distributed, all content is filtered with regards to quality
and abuse so that abusers are filtered through the reward engine so that their
reputation reward is affected.
*Can I transfer ETH from my exchange wallet?
No, you should not transfer ETH from your exchange wallet.
Please transfer from your personal ETH wallet (e.g. Metamaster, Myethereumwallet)
*What are the advantages of TTC compared to other social networking block chain projects?
TTC's main differences compared to other SNS projects are the following two
factors: First DAPP with 11+ million users and, A team of young 50 specialists,
dedicated to Social Network for over 5 years In the short run, the biggest benefit of
TTC is the DAPP's size. The TTC protocol to release tataUFO as the first dApp is
expected to draw in 11 million users as early as the 3Q of this year.
Building a new social networking site from scratch to reach even one million users is a
huge challenge. The reality is that most startups do not reach the first million users and
disappear, and we know that even for teams that are more than a year and a half old,
they have not yet reached have 1 million users. We all start with a good idea, but
it's important for businesses to have spread and a strong presence in the market.
In addition, most ICO's are " seed " - based projects that raise money based on ideas.
Most teams even say they will succeed by making their own social networking sites,
based solely on block chain technologies. Meanwhile, through a strong first partnership with
TataUFO, a Chinese social networking service that has grown for more than five years,
TTC is planning a healthy ecosystem. Finally, TTC is a protocol-level project,
not a reverse ICO, with token allocation, along with business plans to combine several
DAPPs instead of only one DAPP.
*Is there a partner or private supply locked up?
Yes, there is a lock up sale for up to 12 months.
We are also concerned about dumping, and only allowing those who agree to the
long-term growth of TTC to particiate.
*When will you be listed on the exchange(s)?
We are currently discussing positively with major exchanges around the world.
We will announce this news via all our channels as soon as it is official.