In this post, I review Trinity Network Credit.
Intro:
Trinity is an off-chain scaling scheme for Neo.
Below is a table summarizing important data:
Trinity is an off-chain scaling scheme for Neo. Trinity acts as a lightning network for NEO in order to achieve real-time payments, low transaction fees, scalability, and privacy protection for NEO assets.
Off-chain solutions
Off-chain Solution enables two people to transfer and lock their funds through a smart contract.
Example: Person A sends and locks his 100 TNC and person B sends his 100 TNC to the smart contract. Person A and B can make multiple transactions between each other outside of the blockchain (off-chain) because they have locked their assets. They have proved that they have the locked amount. This is called Proof of Assets (PoA). Person A and B can make for example 15 transactions between and then decide to close the channel. Once you closed the channel, the smart contract would write the end result to the blockchain. All off-chain transactions would be compiled into 1 single transaction. If you look at the gambling industry, Trinity can make a big contribution to gambling on the blockchain. Trinity could enable convenient and fast micro-transactions for any branch.
TNC Use Cases:
(source: https://trinity.tech/file/WhitePaperDraft.pdf )
Unified asset for network settlement - TNC can be but is not required to be used as a mortgaged asset during channel establishment, so as to provide a unified settlement method.
Trinity network contribution reward - The TNC can reward the channel routing providers in an effective manner, which encourages more nodes/users to participate in the network channel and enables more efficient asset flows.
Trinity network value-added services - As a privacy-conscious network, Trinity adopts multiple technologies like zeroknowledge proof and CoinJoin to protect data security and enhance privacy protection for users.
Network Service Fees - The Trinity network is devoted to providing digital asset services for small and medium sized businesses. Small and medium sized businesses using the Trinity network to distribute or manage digital assets can use TNC to pay for the needed services.
Enterprise customization service fee.
Incentives for TNC holders and community developers.
PROS
- strong team and advisors
- great marketing moves so far
- working prototype
CONS
- If we compare Trinity GitHub with the Raiden Network activities at GitHub it is seen that Trinity is in the initial phase.
Neutral:
The price can easily be inflated because the project gets a lot of attention from the Youtube stars.
Disclaimer: This is my personal opinion, I am not giving biased recommendations. The article references an opinion and is for information purposes only. It is not intended to be investment advice. All information in this blog post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
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