Trinity Network - Scalability solution for NEO

mazzzenko (33)in #cryptocurrency • 7 years ago

Today I want to present you Trinity Network the ultimate scalability solution for one of my favorite cryptocurrencies NEO.

What is Trinity Network?

Simply said: Trinity is the lightning network for NEO. It's a 2nd layer off-chain scaling scheme similar to Raiden (ETH) and Lightning network (BTC). Trnity offers realtime payments, exceptional low fees, and protects the privacy of your NEO assets.

Team behind Trinity

Trinity was founded by David Yiling Li, Guangfeng Zhang and Fengping Yi. David is a former Antshares overseas manager.

How tech works

Trinity is a state channel network built on NEO. A state channel network is a secondary layer protocol consisting of a vast number of private payment channels, with all of those channels finally settling transactions on the blockchain.

So you can simply say state channels and off-chain scaling schemes operate transactions off the blockchain. The blockchain has some specific technical limitations like i.e. certain numbers of transactions available per second. By taking transaction operations off the blockchain, state channels help scale the network, allowing NEO to process more transactions per second in a shorter period of time. The transactions are finally added to the NEO-blockchain in the future.

The network has its own token called TNC, which is a normal NEP-5 token.

TNC, are NEP-5 utility tokens. They carry NEO-based tokens from one peer to another in form of fees and deposits. TNC are also used as contribution reward for Trinity network, for value-added services on the network i.e. routing through channels and gateway services, network fees, and enterprise customization fees.