The Tip Token

What is the current tipping situation?

Nowadays, the most prevalent act of tipping occurs in the Service Industry, in gratitude for a good service in social settings such as bars & restaurants. However, this accounts for a minority of the tipping use cases. Thus, shouldn’t we also consider the other use cases where people deserve a tip for their services, which represents the vast majority?  Such use cases include; but are not limited to:

- Transport services (RelayRides, Uber, BlablaCar, etc).
- Housing services (Hotels, Airbnb, Couchsurfing, etc).
- Online services & reviews (Wikipedia, Yelp, Reddit, etc).
- Online content creators (Bloggers, Youtubers, Artists, etc).
- Face to face interactions (A neighbor helping to move out, a stranger helping to fix the car, etc).

For use cases such as these outlined above, there is no fast and natural way to tip these entities in an effort to show gratitude. This is where our idea comes into play.

What is The Tip Token solving?

The Tip Token and platform aims to solve the issues highlighted above by the following unique ambitions, setting us apart from the other organizations in the digital currency space: 

- Considerably simplify the blockchain address system by replacing the traditional 40 characters public key which will be utilized to identify an individual’s wallet, with personalized short address names attached to each wallet. This removes the complexities of not only remembering one’s personal wallet public key, but also allowing for more accessible input when conducting a transaction.
- Encourage tipping by rewarding the tippers through various advantages provided directly by the content owner or service provider. Discounts, services offering and various other advantages will encourage occasional tippers to become regular tippers.
- The TTT platform further contributes and encourages the use of TTT tokens as a means for conducting transactions using TTT's Proof of Action algorithm. PoA rewards users for consistently using TTT as a value transaction by airdropping TTT to top users according to the number of transactions they have conducted per month. Wallets with the top 20 highest amount of transactions each month are chosen as part of our reward program. Currently, Ethereum mines 178650 blocks every month. This block number will serve as a countdown each month, readjusted to match current month’s Ethereum hashrate.