A masternode hosting platform facilitating loans in the crypto sphere: Trittium review
By Rafał - 2019-09-23
Trittium thrives to revolutionize the current masternode market by offering a masternode hosting platform with a wide range of hosting and management services and aiming to solve liquidity problems by proposing loans in fiat money using cryptocurrencies as a collateral.
|Block Time:||60 sec|
|Max Supply:||140 000 000|
|Premine:||1 450 000|
|Masternode Collateral:||50 000 TRTT|
|Miniumum coins for POS:||10 000 TRTT|
|Minimum Staking Age:||12 hours|
|Coins Maturation Time:||120 blocks|
|Reward Scheme:||POS/MN - 20%-80%|
Trittium, (Ticker TRTT), forked from the PIVX original codebase, is a proof-of stake blockchain ecosystem secured by a network of masternodes. With the introduction of the Proof of Consumption feature into the Trittium ecosystem, the team brings new opportunities for the community to earn reward while supporting the evolution of the Trittium network.
The team places its focus on the emergent development where decentralized networks meet peer-to-peer (P2P) lending and financial systems. 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 and easy-to-use services related to passive income and masternodes management.
Trittium collateralized loans is an Estonian based company owning 2 licences to offer their different services in a legal and regulated way:
- Licence number FVR000896 : Providing services of exchanging virtual currency against a fiat currency
- Licence number FRK000789 : Providing a virtual currency wallet service
The TrttAuth service is a SSO based solution to improve the user’s experiences while ensuring an easy process to authenticate yourself on the different Trittium services in the entire ecosystem (TrttNodes, TrttWallets and TrttLoans)
In short, Single Sign on (SSO) is a process that permits a user to access multiple services after going through user authentication (i.e. logging in) only once. This involves authentication into all services the user has given permission to, after logging into a primary service. Among other benefits, SSO avoids the monotonous task of confirming identity over and over again through passwords or other authentication systems. The process applied for the Trittium ecosystem remains the same as the one used in numerous companies across the world.
How it works:
- The first step is to login into the main service (One of the offered services on the platforms)
- When a user visits a new service, he is redirected to the original (or parent) service to check if he is logged on.
- An OTP (One-time password/key) token is returned.
- The OTP token is then verified by the new service from the parent’s servers, and only after successful verification, the user is granted entry ( trttAuthorization server valid the authentication)
Trittium wallets are a state-of-the-art technology, giving access to the stored funds from everywhere on any device with trttWallets (including desktop, mobile and web applications).
At the opposite of common wallets developed by most crypto projects, TrttWallet bring a new opportunity to have funds at our disposal. TrttWallet brings web and mobile wallet together, allowing to operate the balance from either one of the applications. However, the desktop wallet remains a separate entity from the rest to increase the overall security for the users. This solution is available for a wide variety of OS to increase the audience and the possibilities.
Trittium offers a masternode hosting service available at https://node.trittium.cc and supporting 118 coins today.
In order to guarantee the sustainability of the solution and to cover operational costs, the team has implemented a system of fees (the minimum possible). Trtt Nodes provides investors with the opportunity to invest in different projects any technical knowledge on masternode. They just need to deposit coins from an exchange or their wallets and press a button called “INVEST” or directly setup a node. The minimum investment on the platform is 10 euros for Instant Nodes.
Trittium gives the possibility to invest in cold nodes also called commonly hot / cold Masternodes. The reason is this type of installation always involves 2 wallets. One wallet is entirely installed remotely on one VPS server. This masternode wallet doesn’t hold any of your coins, that’s why it’s considered as a cold setup. (The VPS installation goes under Trittium’s offer and will be completely managed by the team as well).
The second wallet, on the other hand, will be installed on a local personal computer. This local wallet hold all the coins and it is considered as hot wallet as they are connected to the Internet all the time. Technically speaking , both wallets have a full copy of the blockchain. However, the local wallet is the one that is safely holding the collateral amount , allowing users can keep their private keys under control. The steps to create this type is easy and entirely done from the Trittium Platform:
- A local desktop wallet
- The collateral amount + 1 coin ( with the collateral transaction ID from console)
- 5€ in balance at your trttNodes platform account.
- Login into your trttNodes account and press “Setup Node” button.
- Search the coin of your choice to create a masternode
- On the message popup in your screen , paste the collateral transaction created from wallet earlier then press “Setup Masternode” .
- Once validated , a new popup will show up confirming your purchase and giving you a “Configuration string” which must be added to your local masternode configuration file in order to create the communication between both wallets then save the file , close and restart your wallet
- Wait for the full synchronization of your wallet , then go to the Masternodes tab , select your masternode from the list and press the button “Start Alias”
- Finally , to confirm the node is completely functional , go to your Trtt account in the portfolio tab and select “My nodes”. This interface gives you an overview of currently hosted nodes and their respective status. "
*fees are charged in Trtt
- 0.133 EUR/day per masternode (4 EUR/month), charged daily in TRTT for each full masternode collateral ( in some cases that price might change)
- 4% of rewards for the masternode shares (amounts less than full masternode collateral) with a condition for the minimum daily value of 0.133 EUR/day for a full masternode collateral, charged as proportion according to the masternode share.
The fee calculation is based on the collateral of a masternode. Any amounts which are less than collateral will be treated as a share of a masternode (with always the daily minimum considered).
- 0.06 EUR/day per masternode (1,79 EUR/month), charged daily in TRTT for each node
The investment amount is less than a masternode collateral (Shared Nodes): 4% fee on rewards and if the value of the fees charged in EUR doesn’t cover the daily minimum for the share (share % * 0.133 EUR/day), then additional charge to cover the difference up to minimum daily payment will apply for the day.
Investment amount equals to a masternode or several masternodes collaterals: A fee of 0.133 EUR/day (4 EUR/month) per masternode will be charged.
The investment amount is greater than a masternode or multiple masternodes collaterals: 0.133 EUR per masternode daily and - 4% fees on rewards for the masternode share (the amount above the full collateral).In addition , if the value in EUR of the 4% fees charged, doesn’t cover the daily minimum for the share (share % * 0.133 EUR/day), then additional charge to cover the difference up to minimum daily payment, will apply for the day.
- Instant rewards – 4 payments by a day, scheduled on every 6 hours.
- Instant withdrawals – no coins locked for days; anyone can withdraw its holding whenever he wants.
- “Re-invest” feature to automatically add daily rewards in the existing investment.
- Compound interest and thus an increased ROI
The platform has been designed to be friendly and easy to use. The different tab help investors to quickly get an overview of their holdings and their ongoing investments. The current user interface is divided into 7 parts:
- Dashboard: This interface offers the general statistics of the Trittium node platform as well as user’s statistics related to investments , paid fees and newly added coins.
- Coins: This tab gives the possibility to check all the coins available and the current costs associated. This interface is a solution to setup new full nodes or invest in instant nodes in a few clicks.
- Portfolio: Real time statistics on owned nodes and ongoing investments , daily rewards and more information
- Wallets: The online wallets to store your assets on the platform in order to make an investment
- Address Book: A simple contact list to avoid adding each time the same address for transactions
- Setting: General options and settings for profile , security and user account.
- Help: FAQ and technical support.
Tritium is a peer to peer crypto loan facilitators that will be available at https://platform.trittium.cc. It means that if A would like a quick loan and he has Bitcoin, B can lend him fiat while A places BTC as collateral and Trittium will act as an escrow for the transaction to ensure both parties are satisfied and to guarantee the reliability of the trade. Both lenders and borrowers can benefit by using the TrttLoan platform. Lenders by earning interest on their latent cash and borrowers by getting cash-flow without having to part with their crypto assets.
Borrowers will be able borrow up to 70% of their collateral. The funds will be held in a three-way multi-signature wallet. One key will be held by Tritium, the other by the borrower and the other by the lender. If the interest payments are paid or the value of collateral falls below the value of the loan. The collateral might be liquidated directly, and the lender paid back his loan.
Unlike traditional loan solutions, Trittium offers some advantages over competitors by using blockchain technology :
- No personal identification or credit history needed
- Low interest rates and high transaction speed
- A privacy-oriented solution using ZeroCoin protocol to protect the community
- Accessible to everyone and not limited to some countries
- Investors are protected and can chose how to dispose of their money
Base Plan: Up to $10,000 USD ( only USD ,Term Financing) / Term Length: 3 to 24 Months
Advantages: No Prepayment Penalties, Knowledge Base and Support, Access to Loan Management Portal
Plus Plan: Up to $100,000 USD ( or EUR, GBP, JPY, RMB, Term Financing) / Term Length: 3 to 24 Months
Advantages: The same as before and customizable Loan Terms, Trittium Lower Interest Payments, access to Trittium Hardware Wallet, Early Access to New Products and Credit & Debit Card Integration
Premium Plan: Up to and above $1,000,000 USD ( Ad Hoc Currency Selection, Term Financing)
Advantages: All the previous options and the unique API Integration feature.
The vision associated to Proof of Consumption is rather than distributing a defined supply of a crypto asset to masternodes, the rewards are instead linked to the actual spend of the utility token on the platform for services. As we previously introduced on this content with the Trittium fee explanation where Trittium earns revenue through fees, interest earned on loans, and the appreciation of collateral collection, the change to PoCon (Proof of Consumption) with drastically modify the constant emission of new coins into the market , reducing the underlying hyperinflation related to crypto assets. As revenue begins to flow into the platform, a large portion of those funds will be constantly burned and a mirroring ‘reward block’ will be created with an identical number of coin and be paid out to masternode holders and staking wallets. This solution is a great way to reward investors and Trittium supporters.
The funds are split as following:
1. A percentage will be retained by the platform for maintenance and operations.
2. A percentage will be burned to maintain the set maximum coin supply.
3. A percentage will be paid to masternode holders in the form of dividends.
The Trittium team is diversified and has a lot of experience in the marketing and IT fields with a total of 3 members in the core team and 3 advisors/supporters. Evgeny Kagan , Founder and CEO of Trittium, is an IT professional skilled in Business Intelligence, Unix, Linux, Infiniband, and Sales Operations. The two other founders , Andrey Rusakov and Yulia Kodinetz have respectively 20 years’ experience in leading development projects and 8 years of experience in offline business and marketing. Yulia is also the marketing director for Trittium.
Iurii Sokolov is a quality assurance advisor who have worked for many top IT companies in Silicon Valley. Max Requenes as a Consultant has over 25 years of experience in software development on a wide variety of platforms and operating systems. Finally, Philipp Röhner is Intern and has worked more than 6 years in various positions in hospitality and tourism before he chose to change his path to join the IT sector.
Planned for 2019:
- Mobile and web wallets redesign : : Under development
- TrttNodes redesign : : Completed
- iOs app release on Apple App Store : Under development
- License for storing cryptocurrency : Completed
- License for exchange of crypto currency : Completed
- Marketing campaign
- Community growth campaign
- Trittium Loans platform BETA launch and improvements : Ongoing
Planned for 2020 and further:
To be determined and/or announced
Where to buy TRTT?
Trittium is listed on numerous hosting platforms including their own platform, https://node.trittium.cc offering the possibility invest either in a shared node (instant node) or directly in a cold node.
Trittium Statistics :
- Current price : $0.0046
- Masternode Cost : $233.35
- Collateral : 50,000 TRTT
- Daily volume : $1243
- Market cap : 603,182
- Total masternodes online: 1330 for 66,500,000 locked coins (51,6%)
Estimated Revenue (Based on current market situation)
Daily Income - 19.43 TRTT or $0.0907 / 0.00000914 BTC
Weekly Income - 136.0646 TRTT or $0.63 / 0.00006395 BTC
Monthly Income - 583.1340 TRTT or $2.7215 / 0.00027047 BTC
Yearly Income - 7,094.7970TRTT or $33.1114 / 0.00333455 BTC
Trittium is the first project to adopt the Proof-of-Consumption protocol looking at the working products supporting the liquidity of the TRTT Coin and increasing the benefits for the entire community. Hosting a masternode with Trittium is a great addition to classic income with the revenue generated from its activities. The revenue distribution is offered to investors who host their nodes on the Trittium Nodes platform and to Trtt masternode owners in general:
- 50% goes the development and maintenance
- 25% of it also goes to investors
- 25% is burned to maintain the coin supply2433160210
Masters of Nodes do not recommend investing in any coin. Always do your own research.