THX allows you to pool funds and create rules to reward people.
Use THX to give incentives to your online community members. Examples include rewarding sustainable behaviour and collecting micro donations. It is designed developer first; thanks to an user friendly API, you deploy it easily within existing apps with no additional infrastructure. Powered by Ethereum.
THX provides the next generation of the internet, web 3.0, with a toolset for peer-to-peer monetary incentives, funding and saving.
Our glossary contains THX white paper key terms and definitions from A-Z.
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Anti-money laundering is a process to prevent, detect, and report money laundering activities and terrorist financing.
A distributed ledger of transactions, providing transparency by being public, authentication via cryptographic encryption, and security by being immutable.
Centralized communities typically have a single organization as their most significant stakeholder.
Custom rewards suggested by community members, which need to be approved by the rest of the community before they're distributed by the Reward System API.
Decentralized Autonomous Initial Coin Offering
Decentralized communities are distributed member networks that are not governed by a central group.
Delegated Proof of Stake leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way.
A graphical representation of members and their level of contribution in an online community; a disproportionate amount of contributions by a minority of members.
Ethereum is an open-source blockchain-based distributed computing platform and operating system featuring smart contract functionality.
An equation to determine the total amount of utility tokens and their price (TV = PQ).
The application of game design elements in various contexts to encourage online engagement.
An award-winning digital consultancy based in The Netherlands and the company that developed Open Social from 2016 onward. In 2019 it rebranded as Open Social.
Community members will need to vote for delegated (trusted) members that will be responsible for approving all payouts.
The maximum amount a cryptocurrency receives from investors in its (DA)Initial Coin Offering; for this project $16.000.000.
Automatically suggested rewards are paid out immediately but members will have the ability to report on certain payouts.
The automatically suggested rewards are paid out immediately after the configured period of time.
A combination of a public key, a signature for each blockchain transaction, and private key, used to mathematically derive the Public Key.
Know Your Customer is a process that collects relevant information to determine the true identity of a customer and the type of activity that is "normal and expected," and to detect activity that is "unusual" for a particular customer.
An open-source online community solution created by GoalGorilla and built on Drupal, with over a thousand active installations and the launching software client of THX.
The parent chain is the Ethereum blockchain, the parent of the THX sidechain.
A proof-of-work is a requirement for Miner nodes to compete to "solve a Block," or group transactions, together in (potential) chronological order and have that block accepted onto the global Blockchain of that system.
The fund that holds all the tokens contributed by community members.
A sidechain is a separate blockchain that is attached to its parent chain and allows the movement of tokens and other digital assets.
A smart contract is a computer protocol that facilitates the transfer of digital assets between parties under the agreed-upon terms or enforces the performance of a contract.
The minimum amount a cryptocurrency receives from investors in its (DA)Initial Coin Offering; for this project $4.000.000.
One-time rewards for healthy behavior or recurring rewards for picking up chores, distributed by the Reward System API.
A token that is used for rewarding members in online communities with tokens for valuable and healthy behavior.
An asset that represents ownership of some sort and has both financial and utility value. THX tokens are reward tokens for healthy behavior in communities.
The series of changes or transactions that can be executed using a token.
Token velocity is the ownership duration of a cryptocurrency token.
Transactions per second is a measurement that represents the number of transactions completed in one second by an information system.
A method used a lot in programming to describe a moment in time using the amount of seconds since the 1st of January 1970 with every day containing exactly 86400 seconds.
An Ethereum Wallet where community members hold their private key that gives access to their tokens.
A webhook is a way for an app to provide other applications with real-time information