Trinity Protocol (TNC) deployed their second state channel solution, the Trinity Ethereum State Channel on September 1, 2018. This follows the deployment of Trinity Neo state channels earlier in June.
There has been a lot of development activity on the Github over the last few months with the project being flown under the radar. State channels are the first phase of development and pundits are waiting to see the next trading engine in the Trinity development and Internet of Things featured in the original roadmap.
The Ethereum platform, according to Trinity founder David Li, is the go-to platform after securing strategic partnerships with other Ethereum based projects Hyper Dragons, Etheremon and Decentraland. The state-of-the-art Cross-chain converter enables Trinity to scale multiple blockchains.
Trinity’s off-chain scaling solution will enable users to achieve scalability, real-time payments, low transaction fees and privacy. The State Channel technology is apt to significantly increase transaction at the bottom of the layer chain. Trinity is a privacy conscious network that uses compound technologies such as zero-knowledge proof to provide data security and provide better protection for users.
The state channels enable users to make multiple transactions within the off-chain arrangement with exceptionally speedy processing and eventual on-chain settlement. Trinity will use the final on-chain settlement to ensure the security state channels and fulfill the role of decentralization by disseminating the settlement amount over the entire network.
Following the deployment of the Trinity-Ethereum state channels users will now be able to set up nodes using the Ethereum standard of Trinity (TNC) with a minimum stake of $800 worth of TNC. The amount is set to keep out spammers fond of setting up an infinite number of nodes.
Once a user sets up the system will no longer check on the fiat value of their collateral as the accounting is designed to be based on token as opposed to fiat value. The return on investment (ROI) for running a node will be the proportion of the node’s charging fee as set by the holder and is based on the regularity of usage and the total amount of charges.
Why state channels?
The first generation blockchains are undergoing immense pressure and their slow speeds have reduced the rate of real use adoption as the networks easily become clogged. When coupled with the increasing number of Dapps on the platforms, Trinity’s scaling solution is an idea whose time has come to alleviate the problem.