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A Cryptocurrency Token to be Launched by Tianya – Chin...
Blockchain

A Cryptocurrency Token to be Launched by Tianya – Chinese Social Network

(Last Updated On: July 30, 2018)

One of several projects of Tianya Community Network Technology Co., Ltd., is the Tianya community which as a service platform has been founded in 1999 in Hainan, China ,It  with more than 130 million users is one of the most popular website in China.Tianya  has come up with an official announcement revealing plans of starting a blockchain based ecosystem.

The undisputable fast paced growth of the Tianya Community is a result of its self-organizing model.With a view of allowing each citizen to participate in the community’s self governance,the community after six months of research and design , is utilizing blockchain technology in order to rebuild its ecosystem.

The community is launching the new ecosystem on August 8th and will utilise a blockchain based Tianya Tokens (TYT).  A post revealed that its  90 bln Tianya Tokens (TYT) will work as a reward system . The platform through a post stated :

After half a year of research and design, after many rounds of communication with users, the Tianya sub-system based on blockchain technology has taken shape, and will be launched on August 8th for the public,”

THE TIANYA TOKEN

There will be a limit of 90 billion token and TYT( Tianya Token ) will be the only accounting vouchers .User on the basis of their contribution to the community ,will receive tokens. 20% of the TYT tokens will be kept for internal works like team incentives , operation and ecological development. Rest 80% of the TYT tokens will be used for community behaviour rewards as the users will be rewarded for participating in governance and creating content

The Tianya Token (TYT) will be the only accounting vouchers under the new ecosystem. There will be a limit of 90 billion tokens. Users will receive tokens based on their contributions to the community.