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Trustlines Network

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Decentralized payment network based on Ripple and Ethereum network

Trustlines Foundation is building Trustlines Network, a Ripple-based idea built on the Ethereum blockchain which allows users to access permissionless mobile payments network based on decentralized money. According to Crunchbase, Project Lead Gustav Friis is the one who leads the development of the project. The goal of the project and the company is to develop an ecosystem where financial & economic inclusion of all people existed through decentralized and open source systems. The protocol is developed to support a range of use cases utilizing the network of mutual trust, while at the same time trust-based relationships are mapped into trustless infrastructure. The Trustlines Protocol stated that the goal is to provide the service of “transfer of value” without actually transferring value.

The protocol itself consisted of a set of rules, processes, and definitions forged into deployable code. The company stated that it utilizes various technologies to build the code, including using the clientlib library, a Javascript-library, as the client protocol which makes it easy to build applications on top of the Trustlines Protocol. clientlib provides a high-level API that allows developers to build applications that can interact with the smart contract system on the blockchain via the relay servers. Relay servers themselves are an optional bridge between client apps and the blockchain. These servers provide services that are not realistic to be implemented on-chain or within the client apps. The most important function of the servers is to calculate optimal paths and relay transactions. Last but not least, Trustlines also supports smart contracts based on the Solidity programming language.

Categories

Blockchains, Cryptocurrencies, Payments

Location

Europe

Year founded

2018