We all use social media, the fact is even those of us that have a deep hatred for social media tend to use it in one form or another, some use it as part of their job even as social media has spread and literally become a hallmark of this age of the internet. Time will tell if this remains to be the case, but the way things are evolving it appears our lives will only become more open not less. While we all share openly seemingly entertaining the masses most of us do it without a second thought, even our privacy concerns seem to be placated by the simplest of privacy policies. You'd think for the endless amount of content and advertising opportunities the general public as content creators generate on a daily basis would result in some form of income. That's not the case however in the current way of how things work we're beholden to the Facebook and Instagrams of our world and they take our information that we give freely and make endless sums from it.
The team behind TTC believes the premise of social media needs to change it needs to shift and the people that create all this content deserve to be rewarded, people that are part of lively conversations and push the world discourse and discussion to really give our 2 cents deserve perhaps to earn from that content. Blockchain has brought with it many things but the concept of micropayments and micro incentives may be the biggest one to stick long term. The ability to send microtransactions to anyone for anything, that eventually adds up to a large sum could be what strokes the creativity and improvement in the social media space as time goes on. Imagine if all that data and content you willingly provide to the many social platforms actually resulted in you being rewarded and people that take part in that discussion also are rewarded for meaningfully participating, the possibilities are enormous.
The concept seemed solid when I first heard about it, with the TTC team providing an open platform to allow smart dAPP developers to develop social platforms that reward users for participation would allow an entirely new age of social content to emerge. The idea doesn't just stick to social media, but all social content, for example the TTC's foray into Social Open Source Development, git.eco, imagine for a moment crowd funded open source projects where people are rewarded financially for developing and submitting commits to open source projects or closed source projects imagine a world, where smart kids doing great project's don't have to wonder how to fund their hobby but that they can be openly rewarded for their development efforts.
The idea and concept of "social incentivization" are only now starting to grow and emerge, but there's no end to the possibilities, things like social networks, social development projects are only the beginning. Imagine a world where everything from writing to photography can be organically funded through a distributed social model of funding. Kickstarter and Patreon may be a thing of the past, with a whole new way of handling payment and incentivization based on immutable smart contracts begins to emerge.
The team continues show it’s willingness to evolve and adapt as has been visible in their most recent changes to the whitepaper as they evolve to meet the ever changing landscape of the reality that is blockchain technology. Having a solid niche is only part of what it takes to have a blockchain be successful the technology behind the platform still remains an important aspect to draw in more social networks and platforms to shift towards the TTC way of doing social media. So things like really hashing out the longterm implications of onchain vs offchain and hybrid solutions to their reward engine are important that the team get right the first time, which the team has definitely shown in the recent whitepaper to be willing to evolve and make those needed changes to handle growth and security. Evolving the reward engine’s algorithm and making sure the overall economy is fair and long lasting with swift changes to their whitepaper to adapt and secure the future of the network, are perfect examples of how the team is willing to adapt and continue to improve the underlying network. You can read about the recent changes to the whitepaper on their recent post that goes over the many ways they are securing their longterm social innovations.
The decision for the team in the most recent whitepaper changes to adjust the way consensus is handled, with elected officials able to vote and adjust the overall consensus model through public voting is still in place, the new revised governance allows for the overall public TTC holders that are staking to be able to re-elect the representative so that if for instance (As has happened in some other networks) a certain position is held by someone that starts voting against the interests of the network, the staking public can choose to quickly remove that persons rights and representation. This kind of transparency and ability for the network to grow and react organically while still rewarding stakers/holders for voting and helping to regulate the platform is what could lead to a truly democratic ecosystem, through a true dynamic governance platform unseen elsewhere. This is the sort of change to a whitepaper I can really get behind from teams.
If your interested where the TTC team sees the market evolving and where they expect the social media marketplace to head, take a look at their site and check out the roadmap. The team's view for the future is one I can definitely get behind and I'd imagine as more people discover it they will too. All it takes is developers to continue to adapt and take part in the platform and expand its reach. The team is always available on Telegram and seem to be super excited to talk about where they see the market and their project taking it.
Whitepaper changes: https://medium.com/@ttc.eco/ttc-protocol-whitepaper-1-0-updated-8985712d43d2
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