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16 July 2018
On the 14th of July, 2018 Trinity Protocol launched its much anticipated Trinity Wallet App. This wallet according to Trinity Protocol will ensure that users of the Trinity Protocol Network have a much better experience while utilising Trinity Offchain State Channels.
The Trinity Wallet App is compatible with both iOS and Android mobile devices. You can download this mobile wallet app by Trinity Protocol from their official website. Click on this link if you want to download the Trinity Wallet App.
Trinity Protocol developed the Trinity Wallet App as a universal blockchain scaling solution. The Trinity Wallet App provides users with the opportunity to gain access to state channels that offers the fastest payment option around. This will ensure that trade can be done between parties in a quick and seamless way.
As soon as the QR code of the person you are engaging in transaction with is scanned, you can open up a brand new state channel which can then be included to the “Channel List” that you have created and own. You can set the time frame for the state channel from a minimum of 1 day to a maximum of 30 days. What this means is that the state channel will exist for between 1 and 30 days.
The Trinity Wallet App comes with a “Deposit Box” which is where you can input the quantity of TNC tokens that you intend holding in your designated “Channel Balance”. To establish your new state channel you will have to set up a “Payment Password”.
You then have to verify that the newly set up state channel is accessible on your device as well as on the device of the person you intend trading with. It is possible for you to make several payments on the newly set up state channel within the time frame that was set and this will depend on the the quantity of TNC you sent after the setup of the limit on your “Channel Balance”.
With the iOS downloaded version of the Trinity Wallet App, you can establish a “Payment Password” with the use of touch ID (i.e. fingerprint recognition protocol) or face ID (i.e. facial recognition protocol) during the activation process.
Your channel list will be updated each time you transfer more TNC from your “Channel Balance”. The state channel can be terminated by either of the parties using the state channel. Whenever either party closes a state channel, the “Channel Balance” of either party will be taken back to their respective “On Chain Balance”.
The use of the offchain state channel for transactions is incentivised and operators will be beneficiaries of a reward system established by Trinity Protocol. It is this incentivised system that separates the Trinity Wallet App from similar wallets such as the InWe wallet version.
The TNC is an acronym for “Trinity Network Credit”. This is a NEP-5 token that was designed and created by Trinity Protocol for use on its network for back end transactions as well as smart contracts. Trinity Protocol utilises offchain state channel technology to provide scaling solutions to users of the network.
With the Trinity Wallet App users can make use to this scaling solution right from their mobile devices at anytime of the day and from anywhere. Trinity Protocol gives the NEO blockchain reprieve from congestion by making use of its offchain scaling solution which involves the establishment of personal channels which are independent of the NEO blockchain and exist for use between two parties on the Trinity Protocol network.
The TNC token can then be sent via the state channel between the two parties in a quick and seamless manner once they have created a “Payment Password”. A party can establish another state channel with another individual which will also involve the set up of yet another “Payment Password”. With this offchain transaction, the onchain congestion will be drastically reduced.
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