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03 September 2018
Trinity Protocol officially releases its ETH-based Trinity State Channel Protocol and provides the community with a monthly update. Today, September 3rd, Trinity also published an additional article on their Medium blog announcing the release of the ‘Trinity Simple Node Deployment Platform’. Let’s unpack some of the latest news for you!
On September 1st, the ‘Trinity Protocol’ announced that it has delivered on another significant milestone as it completed the Trinity Off-chain scaling solution for the Ethereum Network. The ETH-based Trinity State Channel Protocol allows for any decentralized application running on the Ethereum network to boost its transaction throughput significantly by allowing these transactions to be processed off-chain at much higher transaction speeds. In theory, the combination of off-chain an on-chain scaling could steer the blockchain industry towards, almost limitless expansion of transaction throughput. Trinity’s Off-Chain scaling solution is based on what is known as ‘State Channel Technology’
If blockchain-based applications want to be commercially viable, most of them, need higher transaction speeds. This need for higher transaction speeds is not merely a question of being able to onboard more users, like the Ethereum ‘crypto kitties’ congestion revealed. The fact of the matter is that complex decentralized applications need close to real-time business logic to be executed on their dApps, in order to compete with their centralized counterparts.
State Channel Technology essentially allows doing that, without falling into the centralization trap. State Channel Technology allows for private servers to gain a certain degree of security and trust. A smart contract is being deployed by consenting parties who are putting up their assets as collateral on the blockchain. So, in this structure, the vast majority of the transactions can occur on the private servers and only the final state or end balance gets broadcasted to the network.
Upgrading Trinity for the NEO Blockchain
With respect to the Trinity State Channel Solution for the NEO network, Trinity stated that it has fixed the ‘out-sync’ issues of the deployed mainnet nodes. The Trinity team also concluded maintenance of mainnet and testnet channels.
Ethereum mainnet launch
As reported, Trinity has officially launched the Trinity-ETH scaling solution. With this, the team deployed the ETH-Trinity Smart Contract, ran a successful mainnet test and deployed mainnet.
Trinity also disclosed that is continuing to work on expanding the research with regards to exploring the full range of possibilities that off-chain scaling can offer. This research includes the study of dynamic nodes, different aspects of privacy protection, Blockchain-based authentication processes, and more.
Today, Trinity announced that is has developed and now launched a simple node deployment platform for the Ethereum Trinity State Channel solution. The platform was created with the intention of making it easier for community members to launch their nodes. However, do note that Trinity will limit the number of available spots as it wants to ensure the best service and community engagement possible. Applicants will be reviewed with respect to their activeness, contribution, and so on.
In order to provide better service and engage the community, Trinity team will distribute a quota for the one-click node deployment experience through the server provided by Trinity. Visit the link (Apply) and fill the application form. The window of application is from September 3rd to 7th. Users’ ETH wallet address and the registered email address of Trinity’s official website are required for the application.
David Li and his team at Trinity, continue to develop during a bear market, which is a good sign. We have been of the opinion that the next wave of cryptocurrency adoption will have to come from real dApp successes. Now the masses will not adopt hard-to-use, bulky applications, therefore second layer scaling solutions are paramount! The battle for the ‘right’ scaling solution is ongoing and it’ll be interesting to see how Trinity can leverage the large Ethereum dApp community going forward.
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