RATE Group | Chinese Social Network Tianya is Launching a Native Cryptocurrency
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Chinese Social Network Tianya is Launching a Native Cryptocurrency

28 Jul Chinese Social Network Tianya is Launching a Native Cryptocurrency

Posted at 15:52h in Cryptocurrency News by

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The Tianya Community in China, a social network of 130 million users that seeks to create the country’s most influential platform for content and knowledge creation, has announced a blockchain based initiative to rebuild its ecosystem.

The new ecosystem will launch on Aug. 8 and will make use of a blockchain based token, TYT, according to a recently posted notice to the community.

Redesign Inititative

The Tianya Community has achieved rapid growth in just a few years with its “netizen” self-organizing model, the notice stated. The community, following six months of research and design, has deployed blockchain technology to rebuild its ecosystem to allow each citizen to participate in the community’s self governance.

The Tianya Community is one of several projects of Tianya Community Network Technology Co., Ltd., a service platform founded in 1999 in Hainan, China, and has branches throughout China and Singapore, as well as the United States.

The Tianya Token (TYT)…

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