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NEO: Token Swaps with Ethereum should soon be possible

4374aabd55e17dcc5e133ab76f3f0321 - NEO: Token Swaps with Ethereum should soon be possible

The Trinity Foundation has announced that through the use of the cross chain Converters NEO-Token with Ethereum tokens can be exchanged. So far, there is still no official release date, but just tested the beta version extensively.

The Trinity Protocol, has announced a Cross-Chain Converter for its Trinity-Token (TNC), to ensure that NEOs NEP5 Token in Token Form in the Ethereum network may exist.

The Converter is tested at the Moment on safety and ability to function, but according to the opinions of some of the Insider will be available soon. If the Converter is used, it should give Token, the lock is based on the NEO-Blockchain, and the same number of tokens on the Ethereum Blockchain. A similar construct was announced a few days ago, the company behind the Kik-Token, in which the “exchange” between the Stellar and Ethereum Blockchain using Atomic Swaps.

The Converter should just work. For the cross chain Converter is a User-Interface, an input mask is available, which makes the exchange easy:

The function of the cross-chain Converters can be very roughly like the following to explain: First, the NEP5 must be coupled TNCs to the Konvertierungsadesse in the NEO Mainnet with the receiving address of Ethereum. After confirmation of the Payment is set by TNC, the “conversion order” and the same amount of ERC20-TNCs, to the address sent. This process applies also for the reverse exchange. How this process works in Detail can be found here.

The Trinity Proktoll deals mainly with Off-Chain-scaling solutions of the NEO-Blockchain. In the near future, faster and more secure payment channels are to be constructed, which correspond to the Lightning network of Bitcoin.

To become aware of these messages increased in the TNC-rate of 13 per cent on a price of 0.10 Euro for the editors ‘ time.

The Trinity Network Credit Token, which has a market capitalization of nearly 34 million euros and occupies space 200 of the largest Cryptocurrencies by market capitalization.

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