China’s Social Network Platform ‘Tianya’ To Launch New Cryptographic Tokens

China’s Social Network Platform ‘Tianya’ To Launch New Cryptographic Tokens

Tianya club, ranked most popular amongst Internet forums of China, providing bulletin board system (BBS), blogging, micro blogging and photo album activities as major services has recently released a new feature.

Making it to the top 25 websites of China, The Social Network Tianya Club introduced and announced their new feature that involves internal blockchain implementation and improvisation. Needless to say increasing their efficiency and opening new doors towards the enhanced cryptographic future.

Tianya through a blog post declared they’ll be launching their own internal blockchain inspired tokens on their website. Inducing more participation and activeness on website, the company declared their 90 bln Tianyan Tokens (also called as TYT) is going to operate similar to that of a reward system. Users with maximum participation and great indulgence would be awarded with TYT which can further be used as means of payment. The Tianyan Tokens which are based on internal blockchain technology would be able to run alongside of their existing Tianya Diamond Tokens which are not cryptography enabled.

The users of website have been exposed to Tianyan Diamonds till date, now when TYT comes, 80 percent of these tokens would be distributed among users while the remaining 20 percent will be devoted for additional operational essentials and requirements.

Further suggesting users already in possession of certain number of Tianyan Diamonds would be eligible to be rewarded with these new Tianyan Tokens. I can also be assumed that these new cryptographic tokens after the launch of non cryptographic diamond tokens last year might fuel and add a boost to the website after a little drop in rank from 2015 to now.

The website’s current aim is to reward their original contributing users. More participation and content associative contribution would attract more rewards of TYT.

The forum read “Evolving for half a year now, in terms of research, design and diligence, contacting and gathering feedback from users, the part of Tianyan system which operated on foundation of cryptography has now taken form and expected to release on 8th August 2018 for public.”

Coming to foundation, resources and technology enabling this token, when asked, Tianya clinched an unconventional tone. Their blogs stated earlier that TYT technology arose from their vision, “Sticking by their spirit of blockchain unison, reconstruction based on blockchain to enable Tianya a horizon to rebuild community balance.”

While the technical insight and aspects of the nascent TYT remain undiscovered, for what we know the release would launch as Initial Coin offerings the ICOs remained on lockdown in the country China.

Even though inviting many users, TYT may not operate as a trade able altcoins but let’s see what other new doors and horizons it may open for the website and new users.

Yet to disclose if it might enable 3rd party exchanges, how its value would be counted, the platform on which it’s built, its structure and its operation, the new award system always sounds mellifluous.