Week 2: Moonshot (TNC) for the week of February 5, 2018
Originally published on: BTCMANAGER
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February 04, 2018
NEO DevCon was hosted over January 30-31 in San Francisco. Last week’s moonshot DBC was a sponsor and had a presentation while this week’s, TNC, has a scalability solution for NEO. Scalability becomes one of the most important factors as coins grow in popularity and utility.
Think Stellar Lumens (XLM) or Raiden Network Token (RDN) for the NEO network. BTC’s biggest problem was scalability. XLM specializes in scalability solutions on the BTC blockchain. RDN specializes in scalability solutions for the ETH network. All coins have a tipping point where they become too expensive to transact with, or the network is too congested or expensive to use. December 4 when CryptoKitties’ popularity was raging the cost to transact on the ETH network was 70GWEI. Ethereum had never been expected to have a scalability problem, and now there was one facing it.
NEO is probably four months behind ETH regarding market adoption for the launching of ICOs, so scalability has yet to become an issue. However, once the hundreds of planned NEO network ICOs are launched, they may similarly face scalability issues. The most interesting part of this moonshot, and why it is a HODL and not a day trading play is that it solves a problem NEO doesn’t even have yet. However, by the time NEO has the problem of scalability, it is too late. NEO will never run into this issue as Trinity Network Credit (TNC) has already solved their future scalability problems.
Trinity Network Credit (TNC)
Trinity Network Credit (TNC) is priced at approximately $.27 with a market cap of $88 million. TNC is essentially the equivalent of the Lightning Network for BTC or Raiden for ETH. The purpose of TNC was to create an off-chain scaling solution offering real-time payments, lower transaction fees, and privacy protection for NEO specific assets. TNC uses state channel technology to dramatically increase blockchain throughput specifically for NEP-5 tokens. Trinity was one of the first completed ICOs of January 2018 and has already made it onto exchanges including KuCoin.
TNC tokens are utility tokens that literally transport NEO (NEP-5) based assets from one wallet to another. TNC’s scaling solution involves using state channels and off-chain scaling schemes. Blockchains all have limitations based on technology, and by taking transaction processing off the blockchain, the network is appropriately scaled. This allows the blockchain to process more transaction in a much shorter period of time. However, in the end, the completed transactions are added to the blockchain and recorded. TNC has solved the NEO scalability problem that has yet to occur fully. However, the team that created the scaling solution and led this ICO is a very famous one. David Yiling Li who is TNC’s Founder is the former Antshares (NEO) overseas manager that led the global token sale in 2016. The Founder of TNC led NEO’s, which was previously known as Antshares, ICO two years prior. If you want to talk about a fantastic team with real connections, TNC is it.
NEO is the Chinese ETH and TNC is their scaling solution. Yes, it doesn’t always make sense to try to solve a problem before it occurs but, in this instance, it is a fantastic idea. NEO is releasing more and more ICOs and as the numbers continue to increase the requirement of a scaling solution will only continue to grow. TNC is a fantastic long-term play and should be a moonshot held by those that believe in scaling solutions to benefit the blockchain. Eventually, the total number of ICOs and individuals using NEO’s blockchain will create congestion. This is the point in which we will truly see TNC moon. As NEO becomes congested over the next year TNC holders everywhere will be picking colors for their Lambo.
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).