Trinity Network Credit TNC: Scalable NEO Blockchain Tech?
Trinity, found online at Trinity.tech, is an off-chain scaling scheme for NEO – similar to the idea behind Lightning Network (for bitcoin) or Raiden (for Ethereum). Find out how it works today in our review.
What Is Trinity Network Credit?
Trinity is like the Lightning Network for NEO. The goal is to create an off-chain scaling scheme offering real-time payments, low transaction fees, and privacy protection for NEO assets.
In other words, Trinity will use state channel technology to significantly increase blockchain throughput for NEP-5 token transfers.
The name of the payment platform comes from The Matrix. Obviously, both Neo and Trinity are characters in The Matrix.
Trinity completed its ICO in early January 2018. The tokens should be arriving on exchanges before the end of the month.
How Trinity Scalable NEO Blockchain Tech Works
Trinity is a state channel network built on – and for – the NEO blockchain. A state channel network is like a secondary protocol consisting of countless private payment channels, with all of those channels ultimately settling transactions on the blockchain.
In layman’s terms, state channels and off-chain scaling schemes conduct transactions off the blockchain. The blockchain has certain technical limitations – like a certain number of transactions available per second. By taking transaction processing off the blockchain, state channels help “scale” the network, allowing the blockchain to process more transactions in a shorter period of time. The transactions are ultimately added to the blockchain in the future.
The platform has its own digital token called TNC, which is a standard NEP-5 token. NEP-5 is similar to the ERC20 token on Ethereum.
TNC tokens are utility tokens. They “transport” NEO-based assets from one peer to another in the form of fees and deposits. TNC tokens are also used as a contribution reward for the Trinity network, for value-added services on the Trinity network (like connection-oriented channel routing and thin client gateway services), network service fees, and enterprise customization service fees.
Ultimately, Trinity is to NEO what Raiden is to Ethereum. Based on all early reports, the platform works as advertised to scale NEO. And, just like Raiden isn’t being developed by the core Ethereum team, Trinity isn’t being developed by the core NEO team. They’re separate projects.
The Trinity TNC Token Sale
Trinity is creating 1 billion TNC tokens. 111,111,111 of those tokens are allocated for private donation. 222,222,222 are allocated for public donations. 152,663,333 are allocated for operations, with the remaining tokens locked for 1 to 3 years (two separate funds of 180,670,000 and 333,333,333).
The public crowdsale period for Trinity ended on January 15, 2018.
Who’s Behind Trinity?
Trinity was founded by David Yiling Li (Founder). Other key members of the team include Guangfeng Zhang (Co-Founder) and Fengping Yi (Co-Founder). David is the former Antshares (NEO) overseas manager who led the Antshares global token sale campaign in 2016.
Trinity Network Credit Conclusion
Trinity is an off-chain scaling solution for the NEO blockchain. NEO has been called the “Ethereum of China”. Today, the Trinity team – which includes former NEO employees – feels the network needs a better scaling solution. Their Trinity platform can be used to quickly and cheaply send NEP-5 tokens (NEP-5 tokens are NEO’s equivalent of ERC20 tokens).
To learn more about Trinity and how the team plans to scale NEO, visit online today at Trinity.tech.