Trias is a Full-stack decentralized trusted cloud infrastructure and ecosystem for all-scale, general-purpose, and enterprise-ready applications. With a fine and delicate design, a talented and solid team with a top-notch academic and industrial background, a complex of enterprise products and solutions, and a sophisticated and sustainable token economy, Trias is fueling industrial clients’ innovation globally
A lot of big words right?
Let us explain Trias in a language regular folk can understand. After all, retail investors make up a large percentage of a companies holdings and they are also your best form of marketing.
In recent times, cryptocurrency and blockchain projects have kind of gained adoption, but also kind of haven’t at the same time. A lot of off-chain-on-chain bridges sound great on paper, but providing a scalable, cost-effective, quick and out of the box solution for onboarding real-world clients has yet to really take off.
You could argue that Ethereum is leading the charge aiming to be the blockchain settlement layer for the likes of Visa etc. Unfortunately, I have a sneaking suspicion we might be waiting a while for ETH2.0, just a feeling…
This industry needs to be able to move fast. If real adoption is to happen, regular clients need solutions today, not tomorrow. They also need to ensure they are secure, this point is vital. Security has got to be the number one priority if you are a project looking to onboard traditional companies into the decentralised world of blockchain technology.
Providing out of the box, reusable, plug-in and play solutions is great. It lets you demonstrate how your own product could work and operate on-chain.
Whilst, also being able to provide the tools and framework to build your own Decentralised App and also providing a secure, quick and scaleable chain to run it on, is a very convincing sales pitch to me.
Another important emerging factor is the ability to be compatible with public chains like Ethereum, BSC etc. whilst also retaining the ability to interact with private chains which third party companies and government might seek to implement over the coming years.
There is a company out there that is building this next-generation ecosystem that is capable of all of the above. Its name is Trias.
Trustworthy &
Reliable
Intelligent
Autonomous
Systems…
As the name suggests, trust is at the heart of everything Trias are building.
A heterogeneous consensus graph (HCGraph) is used instead of blockchain technology. With regular blockchain using proof-of-work to all agree upon the pre-existing and currently active transactions. This requires an awful lot of work and a lot of computing power to do so.
You have seen the current debate going on in the news regarding the Bitcoin energy requirements to run its own Proof-of-work consensus algorithm. Ethereum also ran into this issue whilst using PoW. Using PoW to ensure everyone’s ledgers are all in order is affecting the speed and scalability of the Ethereum network. Instead, they are shifting to proof of stake.
Current transactions per second on Ethereum Proof-of-work are around 20tps with the hope of scaling to 20000 with additional PoS, sharing and further layer 2 scaling solutions.
Instead of layering on top of layer 1, Trias and its Leviatom layer seek to go beneath and create an extremely secure -1 layer. Instead of having to rely upon an excessive amount of nodes to confirm the current state of the ledge, it would algorithmically be decided what nodes are the most trustworthy based on their ability and cost “to lie”.
Nodes are voted by neighbouring nodes to be the deciding factor. As mentioned above, this comes down to the nodes past performance, ability to act malicious and what it would overall cost to be a bad actor. The one with the least incentive and best track record for that point in time and transaction type will be voted as the trusted node.
Getting back to Trias and their use of heterogeneous consensus graph, their consensus mechanism would be able to handle 100,000 tps. This is great. Visa is capable of around 24,000 with demand often only reaching 4,000.
Trias achieve this by drastically reducing the number of nodes required to confirm past transactions. Instead of 6,000 or so nodes all lining up the transactions as and when they happen on Ethereum. A DAG/Hashgraph type structure only needs information from a few trusted nodes about the state of the network.
Leviatom – The -1 Layer Network of Trias
Trust is at the heart of everything Trias are doing. How Leviatom achieves this trust is pretty clever if you ask me. Each node in its HCGraph is constantly keeping tabs on one another.
The aim of this is to derive the nodes which would have the hardest time “telling a lie” and corrupting a transaction or act maliciously. These trusted nodes are selected as the most reliable to update the records on-chain.
There are a few ways in which neighbouring nodes can determine trust and also use it to increase the efficiency of the network. This is known as the gossip protocol.
Brace yourself for a really poor analogy…
The easiest way to describe this is to think of a small village community all working together to keep the books of the village in line and in order before they are put onto the larger state record that would be the national tax census for example.
The village acts as the -1 layer
The nation and its tax census would be Ethereum L1 for example.
Gossip about gossip – In our example, this would effectively be when two neighbouring households in the village aren’t too familiar with each other, so they share some information to put each other at ease and to find out more about their past.
Gossip about reduced gossip – Two neighbours are well acquainted, so they don’t waste too much time and energy constantly passing back and forth information. Instead, they only exchange what is necessary.
Targeted gossip – This is when a node (household) updates its records and believes that other households could benefit from this information.
I know, it is a terrible analogy. But this is how all nodes in the Leviatom network maintain a healthy and trusting relationship with one another. All the while, reducing any excessive info, whilst passing on anything that might be of use.
If you are like me a pleb who doesn’t work in software, the challenges Prometh is solving might not seem immediately important. But once we explain it in a pleb way, it will finally click.
Prometh – Secure DApp building
Prometh seeks to eliminate any software that isn’t acting as intended and ensures software does as it is told. Building DApps to be used in finance, insurance or any other critical infrastructure requires extremely tight auditing and fine combing of security before they deployed.
Prometh ensures that DApps built and ran on Trias are trustworthy, reliable and secure. This is verified in a decentralised way using its network of nodes to all confirm.
When building DApps that would be deployed onto the blockchain, developers and end-users need to ensure the code is running as intended. Prometh breaks down the code into smaller chunks and invites nodes to vet each section in an iterative process.
This ensures that each step of the software lifecycle is running smoothly and as intended. If there is an issue at any stage, it can then be fed back and prevented from causing any serious problems.
This is great for developers, customers and also prevents any malicious actors from deploying harmful code. Just another layer of trust that Trias implement on their platform.
Any nodes that would approve of bad and malicious code are then flagged by other nodes within the network and are effectively kicked off from verification. Nodes acting in a reliable and trusting way are also rewarded. We will get into the tokenomics a little later but keep this in mind
This highly scalable and quick protocol is known as the gossip protocol. Effectively, taking the previous transactions
MagCarta – Smart Contracts and DApps
As with any good chain, smart contracts are at the centre. Not mentioning any names here…
MagCarta ties it all together. DApps built and secured with Prometh, whilst running on Leviatom can interact with one another using MagCarta based smart contracts.
This is where the Decentralised Software as a Service (DSaaS) can be implemented. SaaS is hot property right now. Companies like Salesforce, Squarespace, Canva etc. are all examples of SaaS. The software you can access online usually paying some form of a subscription model.
As the world moves towards Saas for banking, insurance, brokering etc. Saas, due to its very nature of being online and having a greater attack surface for bad actors, needs to move to a more reliable and trustless environment.
This is exactly the kind of area that Trias can help with.
As DeFi replaces CeFi and banks naturally have to start offering these services. Ensuring that there is a safe, quick and secure layer (Leviatom), building platform (Prometh) and smart contract/DApp integration layer will allow them to use Trias every step of the way.
How does the TRIAS token come into all this?
Well the TRIAS token has utility on all three layers, which is great for demand!
As with other projects that have their own ecosystems in this space, taking Ethereum and ETH as an example, any transactions would utilise TRIAS. Interacting with smart contracts on MagCart, third party companies building on DApps using Prometh or rewarding nodes across all layers. TRIAS has huge utility and we all know that drives demand.
Two types of staking occur on Trias.
The first is known as the franchisee-franchisor model. This, in short, requires developers and organisations who want to use Trias i.e. a SaaS company looking to expanding into DSaaS, would have to stake TRIAS to be able to use each platform or service.
The more layers, services and overall usage of Trias, the more TRIAS is required to be staked. This can and will create a very high demand for TRIAS as the network expands and becomes more adopted.
The second is known as the Staking Auction model. Companies in the franchisee-franchisor model generate revenue from their product. The staking auction model for regular investors allows those that stake their TRIAS in support of these projects and earn staking rewards for doing so.
If two projects were using Trias. One is perceived to be a higher revenue-generating project compared to the other.
Naturally, people will stake their TRIAS with the “better” project as there is more projected revenue to be made. To offset this bias, higher TRIAS rewards will be given to those with less TRIAS staked from retail, effectively creating incentives to support other and emerging projects on TRIAS. Quite smart if you ask me.
Burning mechanisms – Trias will also burn TRIAS tokens that are generated from Trias products such as TriasForce and rental space from third-party companies using Trias on any layer. Deflationary assets are an ultra-sound investment, in my opinion, especially those that have such large utility. I mean, just look at ETH.
Another extremely bullish indicator for me personally is the relatively low supply for such a huge project. 10,000,000 TRIAS is the max cap.
In recent weeks, Trias have successfully burnt 5,000,000 ERC20 Trias and minted an equal amount onto the Binance Smart Chain. This means that TRIAS now has a much wider scope and is deployed on both Ethereum and BSC with a 50:50 split between ERC20 and BEP20.
This is equally great for investors as we all know by now that Ethereum has become unusable for the average retail user and investor. Binance Smart Chain has become the chain of choice for the regular retail investor due to its low cost and relatively quick speeds.
This is a problem that Trias on all layers is also solving. Although, Trias is a lot more decentralised, vastly quicker and arguably one of the safest networks available.
At the current price at the time of writing Trias currently has a market cap of $21m… No that is not a typo… you have really just read what seems to be one of the most promising projects in this whole space, with huge potential and ongoing real-world adoption whilst it is still less than $50m market cap!
So what about the Trias team?
RUAN, Anbang, Founder | CEO Ph.D in Oxford, MSc in PKU.Former Research Associate in Trusted Cloud from the Oxford e-Research Center (OeRC) / 10-year research experience in System Security / Served as the reviewer in Trusted Cloud for the Journal of ACM / Led several European research projects, funded by the EPSRC, FP7 and the Innovate UK.
WEI Ming, Co-Founder | CTO Ph.D in PKU, MSc in PKU.Former Senior Architect in Software R&D Center Cloud Division at CASC / 7-year experience of distributed cloud platform development and project management / Led CASC’s big data, IoT and embedded operating system projects
BIAN Kailing, Co-Founder | CSO MSc in Management and Strategy, LSE. Founder of BlockMania. Partner of 42Capital. Former Director of Huobi Labs. Former Managing Director of Ether Capital. Former Accenture Analyst
CHEN Xuming, Chief Product Officer MSc in PKU. Former General Manager of Information Technology Consulting and Evaluation Department of CCID Group Certification Center was responsible for over 200 IT company reviews and participated in the pilot evaluation of several national standards.
I think we are in safe hands here…
Partners in industry and government…
As for current projects the team are working on, there are some pretty big players in the Asian markets.
Despite the recent FUD surrounding Chinese authorities preventing payment providers from offering financial services, actual blockchain/decentralised projects including VeChain and Trias are beginning to get the approval of the state.
The Trias team are trying to work alongside the Chinese government and show them that decentralisation doesn’t have to mean a lack of control. If anything, transparency and trustworthiness are far superior to regular systems.
The following was taken from a recent interview with Forbes magazine. Anbang Ruan, the CEO at Trias, discussed the ongoing education Trias are giving to locate authorities in the hope that they see the benefit and power of on-chain projects.
“When talking about blockchain, everyone’s talking about the decentralized concept… So especially in China, many executives of public companies and local governments are very afraid of this decentralization idea,”. “What we are trying to explain to them is that the decentralization in the blockchain is not a decentralization of the management; it could be understood as a decentralization of the technology.” – Anbang Ruan, Trias CEO
The interview goes on with Ruan mentioning that they are working with multiple different industries in the country and how they have some really great connections and partners at the government.
As an example, Trias is working with the city of Fuzhou to provide services to the electrical substation industry which brings in over $2 billion in revenue each year.
These kinds of projects are vital and have great traction once a use case and profitability model has been established. Why wouldn’t you want to adopt tamperproof, trustless and cryptographically secure systems across all industries?
Summary
So, we have an extremely quick, scalable, secure network, a framework for building and deploying apps and products, smart contract functionality, a working product, real-world adoption and backing from the local government? Oh, the tokenomics of the project is ultrasound and you have read this article whilst it is still sub-$50 m market cap… Interesting…
Trias Resources –
White paper – https://www.trias.one/whitepaper
Twitter –https://twitter.com/triaslab
Telegram – t.me/triaslab
Where to Buy Trias –https://www.kucoin.com/ucenter/signup?rcode=r28JPr
For full disclosure, we are retail investors in TRIAS and this article should be taken as our opinion and our opinion only. This is strictly not financial advice I am a complete and utter moron…
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