A blockchain is a digital ledger in which transactions are recorded in digital blocks and are linked together cryptographically, in a way that preserves the authenticity and veracity of all transactions.
The blockchain was first used in Bitcoin. It has since been used in several other digital currencies and other platforms. Tip Network’s platform is based on blockchain technology.
You can read more about blockchain here.
Tip is a blockchain platform that solves the problem of discovery on the blockchain. Blockchains have the ability to store information, but this information is usually locked away and can only be retrieved by writing custom code.
Tip is changing that by creating a blockchain in which the information stored is indexed and easily searchable by users. Think of what Google did for the internet, by making the information on the world wide web accessible to the average user. That is what Tip is doing for the blockchain.
We will then use this technology to create an ecosystem in which end users and businesses can transact in open and efficient ways.
TIP tokens are the native currency on the Tip Blockchain. This is the currency that fuels the entire Tip platform.
Transactions on the Tip Network are paid for using TIP token, and users and businesses can exchange value on the platform by exchanging TIP tokens using our easy to use wallet applications built for both end users and businesses.
Tip Network solves the common problems both users and businesses face in using cryptocurrencies in day-to-day transactions.
We do this by providing easy to use, user-friendly solutions to consumers and retailers, that make using cryptocurrency as easy as other modern payment methods, at a fraction of the cost of regular payment systems.
Tip Network is initially being launched on the Ethereum blockchain, which uses the Proof of Work consensus algorithm.
Tip Network will be migrated to the Tip blockchain in 2019. Once on the new chain, the delegated proof of stake (DPOS) consensus algorithm will be used for processing transactions and securing the network.
The total supply of TIP tokens is 206,413,364 TIP. The total minted supply at the time of token creation was 1 billion TIP (1,000,000,000). Out of this, 793,586,636 TIP which represents the number of unsold tokens at ICO will be burned.
TIP tokens are the native currency used on the Tip platform. All services available on the platform can be paid for using TIP tokens.
Specifically, storing discoverable information on our network will incur a small fee in TIP tokens.
Merchants who already accept cryptocurrencies such as Bitcoin for payment of goods and services can choose to accept TIP tokens instead, using our merchant services.
Delegates who are responsible for securing the network will be required to hold a significant amount of TIP tokens in order to process transactions. They will also be rewarded bo securing the network by earning TIP tokens.
A token sale is a crowd funding event where a project raises funding in order to execute the vision outlined in the Whitepaper
Due to local regulations, our token sale will not be open to residents of The United States, Canada, China, North Korea, Iran, Syria and Sudan.
The price of TIP tokens is set by demand and supply forces on the exchanges where the token is listed. We have no control over price. Please check exchanges for the most up to date price.
The vesting schedule for each participating group is as follows:
- Tip Employees: 2 years, linear vesting with a 6 month cliff.
- Advisors: 1 year, linear vesting with a 6 month cliff.
The smart contract address for TIP token is
You can check out the contract details on EtherScan.
Please do not send any ETH to this address. If you want to take part in the token sale, you can do so here.
After the token sale ends, TIP will be listed on cryptocurrency exchanges Bancor and other exchanges