15 September 2018

Trinity Network Announces Partnership With NEL

Trinity Network recently announced that they had reached a strategic partnership agreement with NEL. The partnership is expected to see the Trinity Wallet incorporate the NNS domain name service amongst other strategic integrations. This article takes a look at what the partnership between Trinity and NEL entails, but first a quick reminder of what the NEL – NNS domain name service is all about would suffice at this point.

NNS 101

For anyone unfamiliar with the NNS domain name service by NEL, this is a great opportunity to get informed. NNS is an acronym for NEO Name Service which is a blockchain powered, open, distributed domain naming system. What the NNS does is to substitute the traditionally long, cumbersome and difficult to memorise smart contract and wallet address ScriptHash with a much more simpler (.neo) domain name option. This makes transactions quicker, more secure and convenient.

Trinity Wallet And NNS Integration

One of the key partnership agreement between Trinity and NEL is the Trinity Wallet integration of the NNS domain name service. With the NNS domain name service integration, users of the Trinity Wallet would be better equipped to transfer their cryptocurrencies in a convenient and easy way. As one of the viable wallets under the NEO ecosystem, the Trinity Wallet would be fully optimised for the better use of NEO as a result of the NNS integration.

It may interest you to know that with the Trinity Wallet, users are able to carry out transactions in a fast and secure way. Through state channels, trading with the Trinity Wallet can be done off-chain while the endorsement is carried out on-chain. Users can make transfers or receive digital assets through the Trinity Network state channels. Nodes or servers are accessed by users for the purpose of off-chain digital asset transfers. By so doing, users will be able to build a string of state channels in the process.

Furthermore, users can transfer their digital assets on-chain as that function is still very active in the Trinity Wallet App. In order to make off-chain digital asset transfers using nodes, a user will deposit the Trinity Network native cryptocurrency known as TNC and then include a new state channel to the available state channel list. Once this is done, a couple of individuals can transfer digital assets off-chain.

You should know that any one of the individuals involved in the transfer can have the state channel closed and engage in on-chain digital asset transfers. With the capability of off-chain transfers through state channels, the transaction speed is raised a notch. The Trinity Wallet App is currently available on Android devices including smartphones and tablets; you can download this app right here.

The NEO Game Ecosystem Will Be Enhanced By The Trinity And NEL Partnership

The partnership between Trinity and NEL will see the NEO game ecosystem moving forward in the right direction. Both organisations will be involved in the joint hosting of technology-based salons. The Trinity Network state channels would also be shared in the NEO game ecosystem while the NEL/Trinity partnership would ensure that the overall performance and outlook of blockchain-based games are boosted.

With the Trinity Network state channel technology, the very salient issue of blockchain scalability has been properly addressed for now, as it allows for cost effective, off-chain transactions to be implemented. With regards to blockchain gaming, a gamer can make use of the Trinity Network to carry out gaming transactions. A player of a blockchain-based game has to first of all open a Trinity Network state channel, a process that is done on-chain, after this is done the player can conduct their gaming transactions off-chain with the use of the opened state channels.

The NEO blockchain would be overworked if every gaming transaction is done on-chain, so having the Trinity state channels available would allow players to engage in off-chain gaming transactions and this will greatly help with the scalability of the network.

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