Trittium, (| trit’ ē əm |; TRTT) is a proof-of stake blockchain ecosystem secured by masternodes and is forked from the PIVX codebase. The team places its focus on the emergent development where decentralized networks meet peer-to-peer (P2P) lending. If the advent of digital assets is to truly revolutionize how individuals interact with the global economy, financial technology must be improved upon and disrupted significantly. Trittium aims to do just that by providing crypto-collateralized P2P lending.
Inspired by Bitcoin’s decentralization of value transfer, Trittium’s platform removes the third party from the lending process. Motivated by the ethos of increasing autonomy among users as well as in eliminating extraneous costs, decentralization unlocks new sources of value. The directive is not only altruistic. By the team’s assessment, financial disparity is a hindrance to economic and cultural progress. It is designed to attract emerging enterprises and retail investors alike.
Despite a high degree of price volatility in this new asset class, many believe there is a sufficient foundation to support increasing confidence around their legitimacy as a store of value. With these perspectives in mind, the team’s available skills and experience in both finance and technology balance well with the relevance of their masternode investment incentivization structure.
Currently, they are taking the final step to ensure legitimacy and longevity as they await approval for the application to become a fiat/crypto gateway by the Estonian government. It is anticipated this will occur in the coming weeks, and once in place the beta phase of their P2P loans platform will be launched.
Two key differences are presented to propel lending far beyond the traditional system’s operations. The first is in using cryptocurrencies as verifiable collateral on the blockchain. While traditional loans often use collateral as well, physical items (such as the home purchased with the loan) are highly illiquid and non-divisible. Cryptocurrencies flip this limitation to the opposite extreme as they are virtual, more fluidly transferred and highly divisible.
The second difference is in the project’s desire to reach individuals who are fully outside the banking system and unable to meet requirements such as credit reports scoring convention. Huge numbers of potential borrowers around the world are held back by this existing system, and Trittium makes it their objective to accommodate them. Filling this void has both practical and ethical ramifications.
Focus on Value
Trittium has taken great care to put all of its effort into ensuring its products are functional and well-supported. The marketing and branding of the project are professional without falling victim to the excessively hype-laden or jargon-heavy stereotypes common throughout the industry.
Following the completion of the design phase for its lending platform, Trittium has expanded to include masternode hosting via their trttNodes service. In a mere two months they have managed to be leaders in the insta-shared and cold masternodes market, with more than 1,500 nodes in operation. Other applications such as white-label web and mobile wallets will be integrated the future to round out their offerings and increase brand value.
Proof of Consumption
The TRTT blockchain was forked in late 2018 to incorporate a concept pioneered by the project called Proof of Consumption (PoCon) which utilizes a simple strategy to keep incentives high for masternode holders. Profits generated by the platform will be converted into TRTT coins. The full, finite supply of these will be maintained by burning the excess, and remaining coins distributed to the investors and the project for continued operational resources. This activity is fully verifiable and ensured by the blockchain.
To further demonstrate their commitment to operating a professional and goal-driven endeavor, the Trittium team can also claim to be the first to undergo an independent evaluation by Digital Asset Resource Center (DARC) which looked into their operations both qualitatively and quantitatively. There was also an independent review by Nik Patel (@cointradernik) which gives an evaluation of Trittium’s suitability as an investment overall.
To come full circle, it should be noted that the focus on serving people and creating opportunities for those left out in the cold by the legacy systems of finance has engendered a great level of quality participation and engagement with their users. This is objectively clear as evidenced by the presence of more than 6,500 members in its Discord. While still a very small segment of the world is aware of or interested in such a project, the potential is high for use and adoption when sentiment and mood are positive and upbeat at baseline.
Want to know more, or experience the Trittium community firsthand?
Official website: https://node.trittium.cc/