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Trinity Network Credit – Detailed review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This review of Trinity Network Credit consists of three chapters: origin & background, technology and pros & cons.
Origin & Background
David Yiling Li founded the Trinity. The other two co-founders are Guangfeng Zhang and Fengping Yi. David is the former Antshares (NEO) overseas manager who led the Antshares global token sale campaign in 2016.
Trinity is like the Lightning Network for NEO. Also, the objective is to generate an off-chain scaling scheme offering real-time payments, low transaction fees, and privacy protection. In other words, Trinity will try to considerably maximize blockchain throughput for NEP-5 token transfers.
The name of the payment platform comes from the classic movie The Matrix. Trinity is the name of one of the characters in The Matrix. Trinity Network completed its ICO in early January 2018.
Trinity is a state channel network built on and for the NEO blocks chain. A state channel network is like a secondary procedure consisting of limitless private payment channels. Moreover, it is having all of those channels ultimately settling transactions on the blockchain.
In layman’s terms, state channels and off-chain scaling schemes carry out transactions off the blockchain. Furthermore, the blockchain has definite technical limitations like a convinced number of transactions accessible per second. The state channels help “scale” the network through taking transaction processing off the blockchain. Also, it allows the blockchain to process more transactions in a shorter period of time. The transactions are eventually added to the blockchain in the future.
The platform also has its own digital token known as TNC, which is a standard NEP-5 token. NEP-5 is an alternative to the ERC20-token on the Ethereum-blockchain.
TNC tokens are efficacy tokens. They “transport” NEO-based assets from one peer to another in the shape of fees and deposits. TNC tokens are also used as a contribution reward in the Trinity network for value-added services there.
Finally, Trinity is to NEO what Raiden is to Ethereum. It is based on all early reports, the platform works as advertised to scale NEO.
Pros & Cons
We have not identified any obvious cons with the Trinity Network Credit.
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