02 May 201923:26
Trias Review by Midgard Research“Trias Politica is a system of government where a country’s government is divided into branches, each with separate and independent powers and areas of responsibility so that the powers of one branch are not in conflict with the powers associated with the other branches.”
PROBLEM & SOLUTIONTrias is a new public blockchain that supports the execution of native applications for all platforms.
The main features of the platform are as following:-Effective consensus mechanism with the ability to process more than 100,000 TPS-Effective consensus mechanism with the ability to process more than 100,000 TPS-High security-Unlimited scalability-No cost for data migration-Support for complex smart contracts
The entire infrastructure is divided into three subsystems, which are acting the same way as a legislative, executive, judicial branches of government.
– Leviatom (Executive), a network of Trusted Execution Environments. Leviatom uses a unique Heterogeneous Consensus Graph algorithm. This consensus combines heterogeneous TEE technologies (TPM, TXT, Intel SGX, ARM TrustZone) and graph computing algorithms (similar to Hashgraph or DAGs) to increase the speed of network drastically.– Prometh (Legislative), a development environment responsible for the correctness of application development and the absence of errors and vulnerabilities.– Magcarta (Forensic) is an ecosystem connecting providers of computing resources and applications.
A Check-and-Balance system is built into the infrastructure to limit the level of influence of each of the named branches.
Trias is developing its infrastructure in order to enable a wide range of usage scenarios such as:-Acceleration of existing blockchains. Leviatom is able to help the third-party chains to achieve more than 100,000 TPS for a single shard while remaining significant security.-Consensus-oriented Enterprise Programming. MagCarta allows the applications to adopt the consensus to their needs.-An ecosystem of reliable operating systems and applications. Trias removes malware and vulnerabilities and can build trustworthy App stores for PCs, enterprise servers, mobile or IoT devices.-Multi-Party Computation. Trias provides Multi-Party Computation by exchanging trusted applications instead of exchanging private data.-Reliable cloud calculations.
MVP & ROADMAPTrias has a quite extensive roadmap. A lot has been done already, at this moment Trias delivered working MVP, Testnet and Wallet. The constant progress of development can be monitored through Weekly Reports. Mainnet is scheduled for Q2 2019
TECHNICAL DEVELOPMENT ROADMAP
TEAM and ADVISORSDr. Anbang Ruan, Co-Founder and CEO at Trias, has received a Ph.D. at Computer Science at the University of Oxford. He has more than 10-years research experience in Trusted Computing, Trusted Cloud Platform, Cloud Computing Security and Virtualized Platform Security. He is also a Founder and CEO of Octa Innovations, company that develops network security applications using artificial intelligence and trusted computing technology.
Dr. Ming Wei, Co-Founder and CTO at Trias, is a former China Aerospace Software R&D Center Senior Architect, Siemens Academy Engineer. He is also a Co-Founder and CTO at Octa Innovations where he hosted and developed DASO private chain and consortium blockchain. It achieves 100,000 TPS data storage applications’ scenario requirements.
Sun Jiahao, CSO at Trias, is a chief AI Scientist of RBC, a well-known international bank. He has founded several AI and Fintech companies in London, invested by major investment institutions in Europe.
The rest of the team consists of solid developers with years of experience in programming and computer science. The core members come from Oxford University and Peking University, and have experience at top tech companies such as Microsoft, Alibaba, and DiDi.
Advisory board consists of four persons: Prof. Andrew Martin, Prof. Hanqing Jin, Dr. Ning Wang, and well-known Roger Lim. The first three advisors are strong researchers and data scientists from prominent universities.
Roger Lim is the founding partner of Neo Global Capital (NGC). Roger is an advisor to many successful blockchain projects like Bluzelle, Selfkey, QLC Chain, TomoChain, Switcheo, BlockCloud, Aergo, MultiVAC and Top Networks helping them to successfully raise over USD 500 million.
PARTNERSHIPSTrias has not announced any notable partnership that will help the project in implementation or integration of its technologies. We can observe only well-known funds mentioned as early investors:
NEO Global Capital, one of the largest institutional investor of blockchain technologies and has been a key contributor to a number of leading projects including Zilliqa, Ontology, NKN, Oasis, Mainframe, Certik, Bluzelle, and IoTeX.
DHVC, a VC fund that invests in early stage and growth stage technology startups including Ontology, FCoin, Hashgraph, NEO, Mainframe, Zilliqa, QuarkChain, Cosmos, DFinity, MobileCoin, Telegram, Cohesity, HeadSpin, Zenreach, Wish, Optimizely, Branch Metrics, Barefoot Networks, Survios, Limebike.
KOSMOS, a leading investment firm, focused on helping blockchain startups scale and integrate their products into enterprises
Reflexion, a digital money investment fund created by a senior team, specializing high-growth industry standard setters and portal-level projects, tapping global leaders with innovative underlying public-chain technology capabilities, in-depth incubation of quality projects and expansion of global markets and other series of post-investment services.
Funds and VCs mentioned above have a lot of experience in blockchain space, they probably may assist Trias with business development.
TOKENOMICS AND TOKEN SALEThe Trias token (TRY) is a native currency in Trias network. TRY will be used to facilitate the transactions and as a reward mechanism for nodes.
There will be three roles that nodes can act:–Verifiers, who continuously and repeatedly examining the trustworthiness of the surrounding nodes by initiating TEE-oriented verifications to them.–Routers: who collect the verification data from the verifiers and disseminate it to other peers.–Executors: who execute the Prometh applications as scheduled by the MagCarta.
Trias will conduct an IEO on both KuCoin Spotlight and ChainX.kr on 14th of May.
Token Sale Details:Token Name: Trias (TRY)Total Token Supply: 10,000,000,000 TRY
KucoinSpotlight Allocation: 400,000,000 TRY (4% of total token supply)Public Sale Allocation On ChainX.kr: 200,000,000 TRY (2% of total token supply)
Price Ratio: 1 TRY = 0.004 USDPrivate Sale Allocation: 0% of the total token supplySeed Sale Allocation: 8% of the total token supplySeed Sale Token Price: 1 TRY = 0.004 USD
Seed Sale Monthly Unlock Program: 3% of seed sale (24,000,000 TRY) will be unlocked before listing, and the remainder will be released over the next 9 months on a month to month basis.
Total Hardcap: $5,600,000
Initial Circulating Supply: $2,500,000 (6.24% of Total Token Supply)
Overall, tokenomics looks solid. The hard cap is reasonable and the initial circulating supply is low. Lock-up/vesting terms for seed round investors will prevent the token price from a dump.
VERDICT: 9 out of 10Trias is a very techy project that is pretty hard to understand for a regular investor but that is what makes it outstanding. It is clearly visible that a lot of time was allocated by the team to conduct the research which is already a good sign. We see documentation being clear and logical. The team definitely has all the skills to deliver the product they are promising. The Testnet is up and running with the Mainnet being around the corner. The tokenomics clearly benefits IEO investors with most of the private sale tokens vested during the year, such an anti-dump mechanism is vital at the current market conditions.