Tip is a blockchain startup tackling the issues of mass adoption of cryptocurrency. We are doing this by creating a network where users can transact with each other using friendly usernames, instead of traditional cryptocurrency addresses. We also provide a crypto point of sale system for merchants, making it easy for them to start accepting cryptocurrency payments. Our network connects users and merchants through discovery, so initiating a transaction just takes a couple clicks.
Tip its a Third Generation Blockchain powering mass adoption of cryptocurrency by discovery on the blockchain. Tip Blockchain provides usernames on chain instead of cryptographic addresses, and enables on chain discovery, making it easy to find other people on the network. The Tip network connects users over peer to peer networks, and merchants with payment solutions, making it easier than ever to transact using cryptocurrency.
Cryptocurrency users today have to deal with hashed addresses, QR codes and syncing nodes, and other hurdles in order to use crypto. This creates friction and makes cryptocurrencies seem foreign to the average non-technical user. With Tip Blockchain, users and businesses can register usernames which can then be searched and discovered by other users. Tip is creating an ecosystem where end-users and merchants will be able to find each other and transact in a fast, easy and user-friendly ways, that have not previously been seen in crypto before. Tip Blockchain enables ease of use by discovery on the blockchain!
EXECUTIVESUMMARY And INTRODUCTION
The Internet has brought people together in ways that were not possible before. An internet user can communicate with friends or family across the world using various social mediums and communication channels. In the early days of the internet, it was primarily used by researchers, academics, network and computer enthusiasts and the military. As the internet got easier to use, more use cases were conceived and developed which gave the average user a reason and the ability to connect. Today, the internet is more pervasive than radio was half a century ago. With the rise of the internet, new peer to peer networks such as BitTorrent were created, which allowed users to share information directly without the involvement of third parties. A natural evolution from that was Bitcoin and other cryptocurrencies, where users are able to exchange value without an intermediary, or a trusted third party, such as a bank, clearinghouse or money transfer service. Just like the internet, Bitcoin was initially only accessible to tech-savvy computer geeks, that were able to download the source code, compile and run the software. Since then, there have been several advances in technology and services, such as modern light wallets and cryptocurrency exchanges, which have made access to cryptocurrencies easier for more users. While it is easier to use cryptocurrency today, it still takes a degree of technical knowledge: Private keys, public keys, hashed wallet addresses, syncing, nodes, are some of the terms new users have to familiarize themselves with. These are hurdles to adoption that have undoubtedly slowed the uptake of cryptocurrencies by the masses. We believe what is needed to make mass market adoption of cryptocurrency a reality is making the entire experience easy and familiar. All the technical details of the underlying protocols should be abstracted from the average user so that using cryptocurrency is as natural as using any social media platform. The ability for users to discover information and other users on the network is vital. One major catalyst for internet ubiquity and user adoption was the rise of search engines, which made it easy for users to find useful information on the vast world wide web. The problem of discovery on the blockchain is an analogous one. If users are able to discover other users, content, and information in general, there are a multitude of applications that can be built upon this foundation, providing value to more users. This is the fundamental problem Tip is proposing to solve. Tip is creating a fully indexed, searchable, decentralized network that can be queried for information, thus solving the issue of discovery on the blockchain. With the problem of discovery on the blockchain solved by our platform, we can begin to build custom solutions for 3 both end-users and businesses. While some other cryptocurrency projects are working on addressing the issue of humanreadable names to send transactions, we believe that is only a small part of solving the mass adoption problem. Other projects are also working on making cryptocurrencies easier to use for users. Again, that is only one part of the problem. Tip is the only platform tackling the mass adoption issue using a holistic approach from a discovery standpoint, and building applications that connect end-users to businesses. This will provide solutions that can be used by both endusers and merchants in day-to-day cryptocurrency transactions. Cryptocurrency mass adoption cannot wait for two or three years. This needs to happen now! That is why with the Tip is working on this as our primary goal, and delivering a solution that solves the issues outlined right away.
Contextual information around transactions
The third scenario pertains to contextual data for transactions. Let us go back to our neighborhood restaurant. Let us also assume that Gino's Pizza is a popular joint, thus, and several transactions are processed in an hour. If several orders are placed over the phone or by users scanning the business address QR code, the restaurant operators have no way of knowing which transaction corresponds to which order. One ineffective solution would be to match the value of transactions with orders. This would not work if there is more than one transaction with equal or similar value. Another option would be the customers reading out the source address out over the phone, and the order taker recording this address, and then match addresses when transactions come in to attribute them to the correct customer. With only addresses hashes to go by, this is technically infeasible. Now imagine that the pizza shop is expecting deposits from multiple customers. It would be a total nightmare for the store employees to match transactions to customer addresses. Another ineffective solution used presently is the businesses generating multiple addresses, one for each customer or order. This is a tedious and cumbersome process for small businesses to manage, as it leaves them with an ever-increasing number of addresses to manage over time. This is another non-solution to this problem.
Merchant Point of Sale System: Sika
To supplement our consumer focussed solution, Kasakasa, Tip Network will create a desktop and tablet application for small businesses, which will make it easier for businesses that accept cryptocurrency.
Tip Network will work closely with retailers to deliver a solution that gives them the highest value and ease of use.
This solution will be very attractive for merchants because, as cryptocurrency transactions become more pervasive, it presents a suitable alternative for consumers looking to purchase goods and services. Current payment networks such as Visa and Mastercard charge processing fees of 1.5% - 3.0% per transaction[1], depending on location. This is a relatively high fee that merchants must absorb, or pass on to customers by charging higher prices. Transaction fees on Tip will be 0.1% - 0.2% for most transactions. This presents a 15-30 fold decrease in fees, which most merchants will welcome as it means higher margins for them, and an ability to offer their customers lower prices.
THETIPTOKEN
The TIP token, is the unit of account on the Tip network. It is the native currency on the network, thus is used to pay for transactions, storage and other services on the network. TIP is a utility token that the users will be able to use it to:
- Transfer between peer to peer.
- Use it to buy things in the real world with merchants who accept TIP.
- To store data on the Tip decentralized database.
- To pay for transaction fees on the network.
- Reward developers for creating apps that run on the Tip Network.
- To vote for delegates to secure the network.
- For delegates to stake their coins and earn staking rewards for securing the network.
The Tip platform provides an ecosystem that will allow users to purchase both digital goods and
services on the platform, and also tangible goods in the real world from merchants that accept
Tip token.
More information is:
Telegram: https://t.me/TipBlockchain
Twitter: https://twitter.com/TipBlockchain
Medium: https://medium.com/tipblockchain
Facebook: https://www.facebook.com/TipNetworkio
Instagram: https://www.instagram.com/tipblockchain/
Bounty Manager: Arteezy.rtx ( https://bitcointalk.org/index.php?action=profile;u=1059021 )
Bitcointalk Username: MeongElek
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