All You Need To Know About The Tagprotocol Ecosystem

As a leading NFT platform, Tagprotocol has turned out to unique indeed. This is the first Crypto platform where users can own hashtags, participate in auctions, and wait for the value of these hashtags to soar. Each Twitter hashtag would serve as a unique token. Once you join this platform, you need to stake tokens. The rewards would be distributed to the respective owners of these hashtags based on their performance.

In this post, you will get to know how Tagprotocol works and the different elements that constitute its ecosystem.

What is Tagprotocol?

Tagprotocol is a decentralized autonomous organization or DAO. This has been developed on Binance Smart Chain. For ensuring cheaper transactions, the platform comes with an Ethereum(ETH) fork. A data driven approach to assess the performance of Twitter hashtags works out perfectly. This is a digital registry, backed by blockchain. Users can register the ownership of a particular hashtag. However, the hashtag you register on this decentralized platform should not be previously registered by any other user. In case you are familiar with cryptocurrency mining, you might be interested in buying the hashtags that are likely to perform well.

Different services in Tagprotocol ecosystem?

  • Hashtag registry: The key function of the hashtag registry is to accept the request from users for registering new hashtags. Therefore, you would be able to mine new NFTS based on hashtags using it. As a result, the token would be delivered to the wallet of the miners.
  • Auctions of hashtags: the hashtag auctions service would enable the users to receive bids and list the same on their respective hashtag tokens. Besides, it allows the users to bid on hashtags listed by other users.
  • Hashtag staking: Using this service, the users would be able to stake the tokens and collect Tagcoin. The value of the hashtags largely depends on the performance of the Twitter hashtags.
  • Performance oracles: Oracles refer to independent P2P external aggregators of data. They collect relevant information on the performance of the hashtags on Twitter. This data is transferred to Hashtag Staking Contract. 
  • TAG Exchange: This is an exchange service, which enables the users to exchange Tag coins for other Coin like bitcoin and cryptopunk. Besides, the users get an additional source of income by depositing these cryptocurrencies to liquidity pools.
  • Decentralized invitation program: This is a service that can track user invites. Besides, it calculates how much commission the users would get. The program also manages the commission claims and payments that the users make.

Therefore, this is a great platform to grow your asset. The technology used in mining hashtags is foolproof and transparent. People who would be joining the platform early would significantly gain in the coming years. An innovative way to grow your digitalasset, you can channelize your knowledge in hashtags to make a fortune. In the coming years, the value of such hashtags would be increasing manifold. Therefore, the earlier you register potential hashtags, the better opportunities you have to benefit from the returns.