NGC Portfolio丨Strategic Investment in Trias By NGC Fund I, to Build Trusted Generic Applications
In recent days, NGC Fund I made strategic investment in Trias and established business partnership to reshape Trias trustworthy blockchain projects. NGC Fund I, governed by NGC, is dedicated to promoting the NEO ecosystem, and we are pleased to share our support for Trias.
NGC is a professional investment platform sponsored by senior investors in NEO and traditional capital markets. Since its inception, it has built a remarkable portfolio successfully and brought high returns to investors, including excellent blockchain projects such as Ontology, Zilliqa, CertiK, Algorand and OasisLabs.
NGC Fund I and NEO Eco Fund are both governed by NGC. NEO Eco Fund is the strategic investment fund of the NEO Foundation, which contributes to the improvement of the NEO ecosystem through strategic capital deployment, project incubation, resource integration and global blockchain industry development. Meanwhile, NGC Fund I focuses on investing in the highest quality blockchain projects, giving the support to the most cutting-edge blockchain technology exploration to propelling the entire industry healthy development.
As a new generation of smart contract platform, development framework and collaborative ecology compatible with native applications, Trias aims to define a new generation of public chain architectures and build trusted general applications. As we all know, the internet solves the efficiency problem, but it cannot guarantee the application program handles corresponding data correctly in the process of execution. Based on TEE and graphic computing technology, Trias reshapes the trust relationship among general applications.
Trias is composed of three subsystems: Leviatom, a network of Trusted Execution Environments (TEEs) to achieve correct executions of general-purpose software. Prometh, a traceable development framework to achieve decentralized functionality and security properties definitions for general-purpose software. MagCarta, a consensus-oriented programming paradigm to achieve embedded and self-defined consensus strategy for high-order enterprise DApps.
Between the completely decentralized and completely centralized governance structures, Trias disintegrates the monopoly power of machines’ manufacturers, while dynamically balancing the three-governance power with mutual-restrictions (check and balance). It realizes the dynamic power balance and the fairness and justice in the information world, constructing a new generation of public chain system with efficiency, security and compatibility.
At present, there are two problems faced by the existing blockchain technology, its security and performance become the main hindering factors plagued the further blockchain technology development. The security issues of blockchain mainly include software vulnerabilities, network attacks, token privacy disclosure, etc. Meanwhile, the performance of blockchain is mainly refer to low TPS and insufficient expansibility. For example, as the leader of digital currency, Bitcoin has only 7 TPS while Ethernet known as blockchain 2.0 has only 20 TPS. That slow speed is clearly not fast enough to support a wide range of applications. In contrast, VISA in its landing practices can reach tens of millions TPS.
Trias offers a good solution to both of these problems. Through trusted hardware, Trias can require devices to record specific programs, and traces are recorded once the code is modified, which is important to monitor whether nodes are safe and trustworthy.
Compared with traditional public chain, the Leviatom Network in Trias can build a small world network between nodes. Its network can in promotion of the traditional 51% attacks to about 90% of malicious computing force attacks. Specifically, if any nodes want to lie, it must force more than 90% of the other nodes in the network to lie for it, which is difficult and almost impossible to achieve.
The Leviatom Network register the trusted status of nodes into the ledger so that the nodes will be ranked according to different levels of trustworthiness. It can quickly locate the most trusted and reliable nodes in the whole network, and distribute smart contract programs to these nodes to speed up the consensus. Similarly, the Leviatom can also quickly locate the untrusted nodes and remove them out to ensure their own security.
Trust is the cornerstone of security. Now people’s daily life is surrounded by a variety of machines. Various unfavorable factors, such as defective or abused technology, nonstandard management, etc., may cause the machinery to be illegally controlled. With the popularization of AI, the current high-risk vulnerability increases year by year. As a result, risk has always been a plague for software developers and service providers. Essentially, the problem mainly lies in every application on the Internet does not guarantee the other one can handle data correctly.
Living in big data artificial intelligence time, each person is a more data producer and beneficiary than a user. An individual or group as a data provider is ideally control which part of their data can be collected confidently or not. Therefore, as a data collector, it is particularly important to ensure the security and privacy of these data so as to avoid troubles caused by data leaks as a basic obligation.
The technical features of Trias, which enable it to reshape trust between two applications, supporting a wider and more general application scenario, which will be of great significance to eliminate the internal security pain point of data center in finance, government affairs, medical treatment, artificial intelligence.
Taking cross-border transactions as an example, Trias’ distributed ledger, multi-party consensus algorithm, multi-party security computing and other technologies will facilitate the development of cross-border trade, so as to build a trading platform based on the global user credit system and make cross-border transactions safer and more convenient. In terms of industrial control, the smart contract, white-black list, edge computing and other technologies of Trias will build a safe, reliable, stable and intelligent industrial control system for industrial upgrading.
While implementing efficient scheduling and collaboration of native applications on the common platforms, Trias also provides a variety of security and value-added applications. At present, these applications have been successfully implemented in the fields of traceability, industrial control and government affairs. Trias is currently completing its own projects construction and establishing strategic partnerships with industry leaders in the areas of seafood trading, agriculture, traditional manufacturing, new media, medical services, and government clouds, committed to helping these areas achieve safe and credible innovations in key systems and services.
Since 2007, Trias core team had been engaged in trusted computing depth academic research. Dr. Anbang Ruan, the founder and the CEO of Trias, is a PhD and postdoctoral fellow at the University of Oxford. He had been involved in many projects in the direction of trusted cloud and trusted big data platform, including FP7 European Union major projects. Furthermore, he also served as an international leading academic journal reviewer of papers in JACM credible cloud area. As for the core team members, they all respectively graduated from internationally renowned universities such as the University of Oxford and Peking University, and served in groups such as China Aerospace Science and Technology Corporation, Royal Bank of Canada, Intel, Oracle, etc. All members of the team virtually have solid technical strength and rich work experience.
Relying on cutting-edge ideas and technologies, Trias has been highly recognized by experts around the world. Until now, Trias has established laboratory with School of Software and Microelectronics, PKU and Yangtze Delta Region Institute of Tsinghua University, Zhejiang, and held regular seminars with Peking University’s security research team to share research progress and relevant views on blockchain technology. Meanwhile, Trias has launched a long-term and in-depth cooperation with Cyberspace Security Center of University of Oxford, which will jointly promote the application of blockchain technology into practice in the UK.