TNS: The Future of Social Connections on Blockchain! Project Overview

Created: 06-04-2024

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The goal of the project is to create an open digital standard for secure social and economic interactions, as well as to evaluate the counterparty in the network without the participation of parties for the benefit of the entire community network.

General description

• TNS is an L2 solution that complements Ethereum. The solution consists of two parts: a contract with a namespace inside Ethereum and a second layer of TrueConnect (sidechain) for name interaction.
• The TrueConnect sidechain solves the scalability problem and reduces the cost of data transfer.
• TNS names are unique and are purchased at the first auction for the cryptocurrency (utility token) $TRUE. Each name must link to another name to participate in the auction, creating a chain of connections.
• Developers and users can, through their unique TNS name, own digital entities, create social connections, rate, publish and sign content, conduct fast transfers with very low fees, and secure the Ethereum structure.

Key Ideas

• Names are unique and are purchased once and for all. The owner of the name can dispose of the name for as long as he likes and in any way he likes, including selling it at a secondary auction of names, setting a minimum initial bid.

This is the qualitative and key difference between TNS names and the usual “nicknames” created when registering on various web2.0 digital platforms. The difference is essentially the same as the difference between Bitcoin and fiat non-cash money. Fiat money is bank money. They are the owner’s money only insofar as the bank serves him. Bitcoin always belongs to the owner.

“Nicknames” belong to the owner only insofar as they are served by and stored on digital platforms. And TNS names are universal, unique, belong to the owner and are always maintained by contracts. TNS names are independent of third parties. TNS names are a full-fledged digital asset.

• Project mechanics will ensure the use of the TNS name in various capacities: a digital signature for any content and documents, a digital wallet on which tokens and digital assets can be stored, a depository of unique links to network resources.

Additional mechanics will emerge as the TNS digital ecosystem evolves, and can be developed by anyone using open standards and TNS contracts.

• A new TNS name can only be purchased with a reference to an existing name. At the contract level, the formation of a name graph and the distribution of the lion's share of the proceeds for a new sold name up the name graph are laid down.
• The more a name has generated new names and accumulated tokens from this, the more significant it is from the point of view of the history of the formation of the entire TNS namespace. Based on the graph of names and data on distributed tokens, a “Proof of Involvement” is formed - an assessment of the name’s involvement in network connections.

Proof Of Involvement will form a new dimension to the solution to the Buterin trilemma, where decentralization, scalability and security will be better balanced on all three parameters.

Token $TRUE

To facilitate the circulation of TNS names and associated economic activity, a $TRUE token is issued.

• $TRUE is the only means of payment for TNS names upon initial purchase, as well as the means of payment for fees in TrueConnect.
• The token is issued on the main network with a limited and final emission of 50’000’000 tokens, and also has a mirror coin in the TrueConnect sidechain with the same emission.
• Additional emission of tokens is prohibited algorithmically.
• The mechanism for transferring tokens between networks is provided through a bridge. Initially, all tokens available for circulation are present on the main network. The bridge provides a mechanism for their transition to 1k1 circulation in the TrueConnect sidechain.
• The token has a deflationary model. Each initial purchase of a name after launch burns 10% of tokens from the value of the name.

During the initial emission, tokens are distributed and blocked according to a public and understandable model for audit algorithms, specified in the project’s tokenomics. Unlocking tokens also occurs according to this model. The source texts of the contracts are public. Unblocking works with all basic audit protocols.

Affiliate distribution of tokens and Proof of Involvement

The project mechanics at the contract level distribute 85% of the proceeds for new names sold at auction to existing name owners 8 levels up the name graph.

• The mechanics motivate name owners to be project partners and maintain their reputation, giving them the opportunity to monetize their social connections.
• Mechanics forms a graph of social connections, which will provide an open idea of the subject and his connections with other subjects.
• The mechanics are as native as possible: tokens received by a name from recommendations automatically go to the name’s balance in TrueConnect and can be immediately used to interact with the network without the need to do additional actions.

The Proof of Involvement assessment will become the basis for allocating nodes. Nodes will earn from commissions.

• Blockchain protection based on the Proof of Involvement criterion, instead of the already familiar criteria for the use of computing power (Proof of Work) or the number of tokens (Proof of Stake), will become no less effective and much less expensive.
• The measure of the security and independence of a node will be the assessment of its owner’s involvement in the growth of the network. This further motivates the network participant in its growth, as well as in maintaining its reputation. This will lay the foundations of social trust in the TNS ecosystem and allow it to develop rapidly.
• In total, no more than 1000 nodes will be created among the most significant name owners for the functioning of the network.

At the same time, TrueConnect remains completely open to the creation and construction of any secondary social connections and ratings by external projects. The project creates an open infrastructure and open digital standard for the implementation of SocialFi, DeFi and other Web3.0 solutions that require universal subject identifiers and digital entities. However, TrueConnect has the right to claim itself as the standard for any web3.0 social networking experience. TrueConnect will also become a universal authentication tool for personalized contracts and financial transactions.

Tokens not sold in communication chains go to the DAO TNS Foundation to finance projects that expand the use of TNS names. Priority is given to projects initiated by name owners with the most developed chains of connections.

About the project team

The TNS project was created and promoted by a decentralized group of independent enthusiasts from different parts of the world, united by a common clear understanding of the rapidly growing crisis of trust in existing global digital monopolies and the platforms they have created. Towards an aging network architecture, including due to its growing vulnerability to cyber threats and the impact of AI. Of particular concern in this context are issues of financial security, and related issues of identification, speed and guarantees of transactions.