Trinity was one of the popular ICOs of January, but what is Trinity and what makes it so special? Read my review on Trinity to find out more.

Quick Facts

Name: Trinity
Symbol: TNC
Token Type: Neo Blockchain
Total Supply: 1,000,000,000
Circulating Supply: 333,333,333
Token Usage: Utility token
ICO Price: 1 TNC = 0.06 USD
Current Price: 1 TNC = 0.21 USD (approx)

What is Trinity?

Trinity is an offchain scaling solution for Neo which aims to provide real-time payments, low transaction fees, scalability, and privacy protection for NEO assets by using state channel technology.

Why Trinity?

The world is about to witness a new era of digital economy but are we really ready for such large scale adoption?

The simple answer to this question is "No, we are not". There are many more hurdles to be crossed before we can see the mass adoption for the blockchain technology and cryptocurrencies in general.

Major limitations with existing blockchain infrastructure:

Scalability

As cryptocurrencies are becoming more and more popular, the number of transactions happening on major blockchain networks such as Bitcoin, Ethereum and Neo are increasing day by day which is resulting into network congestion and as a result transactions are taking a lot of time before getting confirmed. A single transaction on bitcoin network can take almost 10 minutes of waiting time while a transaction on Ethereum network can take almost 18 seconds of waiting time before getting confirmed. Although Neo is a lot faster than both Bitcoin and Ethereum but it is still not fast enough in order to encourage mass adoption.

Transaction Fee

The transaction fee for a single transaction on Bitcoin network can cost around 30 dollars and although Ethereum is a cheaper alternative, but it is not cheap enough in order to be used for micro payments. There is a need to introduce solutions in order to lower the transaction fees to almost negligible in order to promote mainstream adoption of cryptocurrencies.

What does Trinity offer?

Trinity aims to provide safe, fast and convenient blockchain services to its users through its fast and safe off-chain payment channels.

By the use of state channel technology, Trinity aims to provide a series of solutions such as protocol layer, pluggable services, customizable services, free basic services, and incentives for value-added service providers.

Key Features provided by Trinity:

• Private Payment Channels
• Instant Micro payments
• Onchain settlements
• Open Protocol

How Trinity Works?

The blockchain and Trinity's logic layers are completely decoupled from each other, allowing each layer to serve dApps independently.

State Channel Layer (SCL)

Provides Peer to Peer state channel services, enables transaction parties to carry out instant transactions with no latency. These state channels correspond to a smart contract on the blockchain and an asset collateral, applicable to DAPPs for C2C instant payment, personal high-frequency data collection etc.

Channel Network Layer (CNL)

Provides state channel routing services, enables fully automatic intelligent routing for transaction parties without established state channels in order to foster real time transactions where it is not feasible for users to establish state channels due to asset collateral costs, applicable to DAPPs for B2B/B2C instant payment, network-wide data collection, decentralized exchanges, instant exchange between coins, IoT networking etc.

Channel Service Layer (CSL)

Provides plug-in customizable offchain transaction services, the CSL is designed to improve user's transaction experience. Common services available on the CSL include: gateway services for light clients, mix-coin transaction services with privacy protection, high-priority quality of service (QoS) routing for state channels, peer-to-peer connection-oriented state channel routing, channel detection proxy service etc.

Token Usage

• Unified asset for network settlement

TNC can be but not necessarily be used as a method of payment during channel establishment.

• 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

Services such as privacy protection, QoS, connection-oriented channel routing, thin client gateway services, proxy services on state channel testing and monitoring etc can be acquired through TNC payment.

• Network Service Fees

Small and medium sized businesses using the Trinity network to distribute or manage digital assets can use TNC to pay for the needed services.

Roadmap

Positives

• Prototype

Trinity has already completed the demo version of the Trinity's state channels and demonstrated the same in the NEO Devcon in San Francisco in January 2018.

• Strong Team

Trinity is led by David Yiling Li who was former Neo overseas manager and also led the Neo (formerly Antshares) global tokensale campaign in 2016. Co-Founder Fengping Yi is a Government Affairs Specialist on Blockchain and has rich experience in public sector and blockchain business development. The team also has strong hold over Chinese market and are also closely associated with Neo foundation which will help them grow faster.

• Unique

Since Trinity is the only off chain scaling solution for Neo, it has literally no competitors in the market which will give it enough room to grow.

• Encourages Mainstream Adoption of Neo

Trinity is thinking ahead of its time, the problem Trinity is trying to solve is a major pain point which is preventing the mainstream adoption of the blockchain technology. Although Neo doesn't require Trinity's solution at the moment as it is a lot faster and cheaper than other alternatives in the blockchain space but with the increased demand and more dApps running on Neo's network, Trinity's off chain scaling solution could become a boon for Neo in the near future and will help Neo to compete with Bitcoin and Ethereum to become one of the top blockchain projects in the crypto space.

Negatives

• Dependent on Neo's success

Trinity's solution is limited to Neo ecosystem, therefore the success of Trinity is largely dependent on the success of Neo. If Neo fails to compete with other upcoming blockchain projects, it will have an adverse affect on the success of Trinity as well. Although Trinity might try to implement their solution to other blockchain projects as well in future but as of now it is largely dependent on Neo's success.

• Supply

Only 33.33% of the the total supply is in circulation at the moment which means a lot many tokens will be released in future which can adversely affect the price of TNC tokens in future. Although not all the remaining tokens will be introduced in the market in one go, neither they are going to be released anytime soon. Below is the table which shows how the supply of TNC tokens will be managed:

Timeframe	Circulating Supply
Feb 2018 - Feb 2019	485,996,666
Feb 2019 - Feb 2020	657,331,110
Feb 2020 - Feb 2021	828,665,554
After Feb 2021	999,999,998

Verdict

If you believe in Neo, you should definitely believe in Trinity. It is a solid project backed by a strong team with the focus to solve major bottlenecks which can possibly restrict Neo's mainstream adoption in future. The project might not look as the one Neo requires right now but it is a project which can help shape Neo's future. Going by the growth of Neo, it won't take long for Trinity to become an inevitable part of Neo's ecosystem.

Quick Links

Website
Whitepaper
Github
Telegram
Twitter

Image and Video Credits: Trinity

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Disclaimer: This is not a financial advice. I am giving my personal opinion, do your own research before making any investment decision. Do not invest more than you can afford to lose.

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