Key Takeaways from Trinity Founder David Li's AMA with TheGobOne

Trinity's founder David Li had an AMA session with TheGobOne today where he discussed about the milestones Trinity has achieved so far and what can be expected in future. Trinity is a project I am very bullish on, I have also done a full review of Trinity in my last post, check it out here.

Now moving on to the key takeaways from the AMA session:

Milestones achieved after the end of ICO:

1. Released detailed version of the roadmap.
2. Released first version of open beta.

Big secret announcement:

It will be revealed in Trinity meetup in Berlin towards the end of this month.

Trinity Foundation releasing new NEP standard token and its significance:

Trinity will be releasing NFT (Non Fungible Token) which will be different from NEP5, ERC20 etc as they are all Fungible. NFT can be used as a token representing the hash of the data in the real world such as contracts of real estate sales, automobile ownership etc. Each unique asset created will be monitored and administered under the same smart contract which will be controlled by the minting algorithm of the contract itself.

Role of legislation for NFT based contracts:

Legislation is required in order to enforce contracts. As an example, contract for automobile ownership on blockchain is minted as NFT and when it is required to be exchanged into a real world asset and counterparty refuses to do so, then the contract needs to be enforced which will require the support of the legislation.

Usage of TNC tokens:

Trinity's TNC tokens will behave as protocol fuel and will be required to set up state channels and settle fees. TNC is required as underlying asset tokens cannot be directly used, similar to how Raiden cannot use Ether to settle fees.

Challenges faced by Trinity:

All the major challenges are already resolved for the roadmap items planned till June. For a longer time frame, developing a better rewarding algorithm and managing liquidity on the platform are the key challenges that Trinity is looking forward to resolve.

Info about nodes and potential masternodes in future:

There will be no masternodes, all the nodes on Trinity network will be equal. A node will behave as a server as it will provide bandwidth and processing power. In order to become a node, a certain amount of TNC needs to be locked up, more info on the same could be released towards the end of this month when the second version of open beta will be released.

Future milestones:

Pilot program is ongoing, many pilot projects will be using Trinity starting from May, SDK is planned to be provided to the developers in June. Interested teams can reach out to the telegram admins in order to become a part of the pilot program.

Providing similar solution for other blockchains:

There are plans in place to work with other blockchains but the details will be revealed at the meetup in Berlin, also since many of the blockchains are still under development, therefore no official announcements will be made until those blockchains have their mainnet released.

Government Relations:

As a private company, the priority of Trinity is not to distract too much with the government administration. But some of the team members have some solid background working with the government authorities and the announcements regarding the same will be done in due time.

On ramping up marketing activities:

Does not want to build the value proposition of Trinity based on hype and therefore announcements will be made at the correct time.

On providing Industry gaming solution:

Trinity is ahead of schedule and first batch of SDK will be focusing on blockchain gaming and a pilot project is already in place which will showcase how Trinity can help in order to leverage gaming solution on blockchain.

After going through today's AMA, I have become even more confident on the project. There are plenty of good things in store for Trinity and a lot of things could be expected to be revealed in the Trinity's Berlin meetup which is happening on 24th March. I hope I was able to summarize today's AMA without missing any key points, but you can obviously help me out if I have missed something. You can view Trinity's AMA here

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