Ethereum update: Trinity Protocol (TNC) releases it’s User App, Trinity-Ethereum channels to come next month!
Today Trinity launches its User App.
The Trinity Wallet was created to become a universal scaling solution for any blockchain. As an example to use this app, the first thing you can do is open a state channel for the fastest payment available.
Once you scan the QR code of the counter party you will be transacting with, open a new state channel to add to your channel list. The time limit of the state channel can be set from 1 day to 30 days. The deposit box is where you enter the amount of TNC you want to hold in your ‘Channel Balance’. Set a payment password for your new state channel and establish the state channel. Confirm the state channel has been added to both parties devices. Depending on how much you send after you set your channel balance limit you can make multiple in-channel payments throughout the duration of the time limit you set the state channel to be.
The iOS version can enable a payment password via face ID or touch ID to activate. Every time you send more from your “Channel Balance’’ it updates in the channel list. Either party can terminate the state channel. Closing the state channel adds your ‘Channel Balance’ back to your “On Chain Balance’ for both parties. There will be a rewarding mechanism in place for state channel operators as incentive to use this off chain transaction channel.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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