Trias ICO Review and TRY Token Analysis

Trias ICO Overview

The Trias ICO and TRY token sale are raising funds to launch a decentralized, general-purpose computation infrastructure based on trust, to ensure distributed systems behave in a deterministic manner. Offering a product that combines trusted hardware with graph computing, Trias aims to increase throughput across a wide array of dApps and underlying platforms through an advanced development framework and collaborative ecosystem.

Trias ICO Value Proposition

The possibility of running general-purpose dApps on common devices like PCs and mobile phones presents a number of challenges that require attention for a viable ecosystem to flourish. Reaching consensus via mechanisms like PoW requires high amounts of computation resources, and network congestion presents a limitation on the number of programs that can run in parallel.

The layer 1 solution offered by Trias enhances public blockchains through enforcement of trusted relationships between consensus nodes, reducing the amount of overhead resources expended on network communication (and thereby, increasing tp/s).

The layer 1 solution in essence serves to prove block generation occurs as written, recording transaction validation details, ordering of blocks and corresponding fees, while allowing all nodes to generate blocks concurrently. Employing Trusted Execution Environments (TEE) for attestation, Trias mitigates potential threats to transaction speed through HashGraph, cutting down on the need for network communication and enhancing propagation. Trias has three subsystems:

Leviatom provides a network of TEEs to ensure the correct execution of general-purpose software. At its core, Leviatom utilizes a Heterogeneous Consensus Graph (HCGraph) algorithm, which combines multiple TEE hardware technologies with graph computing similar to Hashgraph. Employment of TEE in conjunction with graph computation algorithms allows Trias to quickly complete attestations among a large-scale network of distributed nodes.

Prometh offers a traceable development framework for establishing the functions and security properties of general-purpose software. With Prometh, critical information from the lifecycle of any software is recorded on the blockchain, including stages of development and distribution. Prometh also motivates network participants to apply formal verification through both automatic and manual examinations on the recorded information.

MagCarta is a smart contract language for defining dApp consensus strategies. MagCarta schedules and coordinates Prometh applications on the Leviatom computing network. It also acts to enforce self-defined consensus algorithms for determining the correctness of each invocation, and provides a means to set reward parameters for Leviatom and Prometh contributors.

The Trias token (TRY) provides the sole means of executing transactions and providing rewards on the network. The Trias network has three types of nodes: verifiers, routers and executors. Verifiers examine the trustworthiness of surrounding nodes through TEE-based “verification as mining”. Routers collect verification data, disseminating information through gossip algorithms to network peers, constructing a “web-of-trust” in the process. Finally, executors run Prometh applications and are rewarded for their contribution of compute and storage resources.

Trias ICO Team

Ruan Anbang is the Founder and CEO of Trias and parent company Octa Innovations.
He holds a MEng in Computer Security from Peking University and a PhD in Computer Science from Oxford. Before bringing Trusted Computing expertise into the business realm, Anbang spent nearly 2 years as a Research Associate at the Oxford e-Research Center focused on Trusted Cloud Computing development. He has 21 published articles in the field of Trusted Computing, spanning the course of a decade.

Wei Ming is the Co-founder and CTO of both Trias and Octa Innovations. He holds an MSc and PhD from Peking University. Prior to co-founding Octa Innovations, Wei Ming spent 6 years at Beijing Shenzhou Aerospace Software Technology Co., where he was a Lead Software Architect.

Hao Shuang serves as CMO of Trias and PR Director for Octa Innovations. Shuang has previous experience as a PR Manager at both Tsinghua University and NetEase. From 2014 to 2016, Shuang spent 2 years with China News Service as a journalist. She holds a Master’s degree in Media Management from Hong Kong Baptist University.

A complete list of the 8 founding team members can be found in section 6 of the Trias Whitepaper. Trias has yet to publicly announce project advisors.

Trias ICO Strengths and Opportunities

Many blockchain projects that incorporate TEEs tend to rely solely on integration with Intel SGX. Reliance on a specific hardware device invariably leads to a dependence on the centralized body responsible for the overall integrity of the product. TEE-based solutions that are only compatible with one type of hardware device also leave open the possibility of vulnerabilities, such as the recently discovered weakness in Intel SGX by scientists at Ohio State University.

Trias breaks with this dependency on hardware technology from a single provider for attestation. Instead, support for a range of TEEs is provided by the network. Besides Intel SGX, Trias initially plans to support Intel TXT, ARM TrustZone, and TCG TPM.

The Trias team is at the forefront of TEE-based distributed systems. Parent company, Octa Innovations, focuses on developing information-security products that rely heavily on TEEs for trusted computing. The most recent offering by the company is a private blockchain-driven enterprise security system, implementing several of the core components that comprise Trias, including Prometh.

Ruan Anbang himself has a demonstrable track record of published research on trusted computing and distributed systems spanning a decade. The previous experience of the team developing and deploying TEE-integrated blockchain tech for enterprise application scenarios strongly supports the ambitions of the project.  

Trias ICO Weaknesses and Threats

While Trias has developed a partnership with Beijing University through the formation of a joint research lab, cooperation agreements with enterprises and other blockchains that would benefit from a layer integration have yet to be established.

Formation of real partnerships that demonstrate the myriad of potential use case scenarios of Trias will be an important stepping stone for the product. As of yet, progress in this area remains scarce and the roadmap provides little indication of what strategies Trias plans to deploy to this effect.

The Verdict on the Trias ICO

The Trias ICO offers an innovative product that leverages the benefits of hardware-based attestation with the high-throughput capability of graph computation algorithms to address crucial fault points in existing blockchain networks.

The established expertise of the core team in the realm of trusted computing and its application to distributed networks is a significant indicator toward the future prospects of the Trias ICO. While progress is still to be made building the ecosystem, an overall assessment of the fundamentals points to a strong project.

Additional Information

We have been in discussions with the Trias ICO team and our ratings are based on conversations and information that they have asked us to keep confidential. Please note that our review does take into consideration the token data that has been shared with us, but we have been specifically requested not to share the token metrics that we have seen at this point. We will share them as soon as they are made available by the team.

The Trias ICO team has a Telegram Group at https://t.me/triaslab and a Chinese group at https://t.me/TriasChinese for more immediate updates.

 

As a Top 5% rated project, we intend to participate and will make a medium bet on the Trias ICO.

 

Learn more about the Trias ICO in our 5500+ member Telegram Group.



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