Unveiling Tringlr by Choise.ai, The Most Groundbreaking Web3 Solution for Storing Funds, Securely and Effortlessly

Apr 19, 2024
15:04
2 min reading

Choise.com team

Unveiling Tringlr by Choise.ai, The Most Groundbreaking Web3 Solution for Storing Funds, Securely and Effortlessly

Choise.ai is continuing its series of announcements revealing global changes in our tokenomics and strategy, this week we’re excited to unveil two huge new announcements!

1st announcement: Choise.ai is creating the world's most secure crypto wallet, based on a Hybrid SMPC technology called Tringlr, that will change the way we store cryptocurrency.

2nd announcement: The CHO token is expanding as part of the program to expand support for blockchains, CHO has launched today on the BSC network and forming a prize fund of $500,000 dollars worth of CHO available for the community! Keep reading till the end for more info on this.

For the last 7 years, Choise.ai has been leading the charge in opening crypto to the wider masses, offering diverse Web3 products to over 1M users. Recently, Choice.ai announced a key development in the B2B enterprise direction, with the aim of further growing the CHO and Choise.ai ecosystems. Let’s first dive into Tringlr, the most secure wallet in the world:

Why Tringlr?

Currently, all known hot, cold and hybrid methods of storing cryptocurrencies through both centralized and decentralized means have their main disadvantages. Hot storage using seed phrases means that wallet recovery is poor, a drawback to maximize security. Cold storage carries the risk of losing the wallet itself. Storing cryptocurrencies on centralized platforms carries external risk, such as bankruptcy or hacks, which has cost users billions over the years (Mt Gox, FTX, Celsius etc). Building for security means compromizing on wallet UX, resulting in more complexity and steep learning curves for new entrants into the space. This has to change, and it will.

The wallet dilemma (UX vs security) exists too in the TradFi world, when a person stores their money in a bank, they carry the risk of bankruptcy, while also facing the risk of censorship, blocking their access to money, either partially or completely. The exact opposite would mean storing all your money under your pillow at home, but this could be stolen and is not easily transferrable so it is not an effective solution.

However, the world is changing. With decades of bankruptcy and a history of ‘grey’ practices with banks, there is a huge lack of trust in the modern world when it comes to storing money.

Essentially, the world needs a solution for holding funds in a:

Decentralized manner
With complete ownership and autonomy of their funds
Secure and private
Reliable and accessible 24/7

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The solution? Tringlr.

The most secure infrastructure, built on a hybrid SMPC solution, with secure agents to bring the best of both worlds. Tringlr will be integrated into both our B2B and B2C Choise.ai products, and distributed to hundreds of partners, creating previously unattainable level of storage and transaction security for millions of users worldwide.

Thanks to crucial developments in the blockchain and decentralization space, this solution can now become a reality. When developing Tringlr, we set out to solve these challenges: allowing people to have true ownership of their money and removing the risks of independent and external risk.

Building the most secure wallet infrastructure, that just works for everyone, everywhere.

What is Tringlr?

Tringlr technology is the latest groundbreaking solution that Choise.ai is releasing. It is based on a hybrid SMPC with secure agents that provide an additional level of security. At its core, Tringlr allows users to simultaneously receive the benefits of decentralized storage and centralized use of funds to make payments, allowing them to transfer funds to bank cards or bank accounts.

It is the perfect balance between the DeFi & TradFi paradox that we face. With Tringlr, users get the best of both worlds, they have full ownership of their money while having the benefits (like UX, offramping, flexibility, and recovery) that centralized solutions offer.

Tringlr enables special recovery options, unknown even to centralized platforms, including redirecting funds to a second, so-called backup wallet. If something happens to the person, the person would have specified several wallets (relatives, for example), with the funds being transferred to this wallet if something happens. Tringlr comes with a level of customization unknown to the space, with the ability to cap and limit the amount of money that can be withdrawn and transferred.

The most important component within the Tringlr infrastructure is the so-called key pool. The centralized part also has a very important function in ensuring the security of the decentralized part because it has its own key. Let’s explain this further.

There are 3 keys stored in total.

Owner of the wallet
Centralized part of the platform
Secure agent (third party that can also authorize transactions)

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This unique breakthrough design creates a unique security loop, where hacking the decentralized part does not lead to the loss of money, because confirmation of the centralized key is required, as well as the secure agent. Alternatively, any attempt by a centralized service to block the possibility of withdrawing funds due to any violations is also impossible. It’s almost impossible to hack the backup wallet insertion mechanism (as described above), the input of such a wallet is accepted within three months, and its creation is possible only by the owner of the decentralized wallet, plus the secure agent who performs this operation.

Tringlr's decentralized architecture, combined with components of centralized aspects, will be the foundation for creating the most secure wallet for holding your crypto funds.

Key Benefits of Tringlr

The case for Tringlr is crystal clear, and there are advantages for users, projects, and businesses alike.

Users of Tringlr will have decentralized means to store their funds, getting all the major benefits that we’ve come to love with decentralized storage. Choise.ai believes in the multi-chain future, and as such, users will be able to store funds in several networks at the same time: L2 networks, Ethereum, Polygon, Tron, Base, Solana (a separate solution implemented separately), and many more.

Tringlr’s use of account abstraction tech will allow the transfer of funds from one wallet to another, centralized exchange functionalities, and other important functions, like the ability to pay from the browser and a whole host of key features. The end result? The most complete, secure and powerful wallet to transact in both the Web3 and TradFi worlds.

At the same time, everyone still can use funds in the real world, as they should. Inside the wallet there is the ability to transfer money to a centralized component with the ability to fund a bank card, with a bank account that is provided to the client. Users can define the limits within which these automatic replenishments can be made. Further centralized products, including credit products, card products, and staking products, will be offered by the centralized service, providing a comprehensive complete solution to bring your crypto to the real world.

The result? A solution that transfers the power over money to the individual, in a way never done before. A solution that is completely secure in the decentralized component, while also being impossible to limit the ability to access money from the centralized part. Creating the most convenient tool for storing access to your money.

An Example of Tringlr In Action

A person deposits $100,000 in a decentralized wallet. They then set limits on the centralized and decentralized transactions he would like to perform. For example, setting a limit of $100 means that it is impossible to make a transaction above this amount. That is, even if the decentralized part is somehow hacked, a second key will be needed, and the maximum that can be transferred is $100. All other restrictions will be limited to the centralized part.

Then a person can replenish his wallet from this wallet within the limits of those volumes that are needed monthly, for example, withdraw a certain amount of money to make payments for various services, use a crypto card as usual, use banking services, and all this within the limits. But if for some reason something happens to a person, then the centralized part cannot restrict a person’s access to money, it can only restrict access. This function, through a smart contract and when the wallet is inactive (this is also configurable), sends funds to a decentralized backup wallet and sends a secret message to the backup address initially set by the owner.

The Tringlr solution is very important for businesses. Their priority is security and safe storage of funds because centralized services are even more susceptible to attacks than decentralized ones. With Tringlr, both users and businesses can enjoy safe and secure custody, with customizable features built in for their environments and contexts.

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Powered By The CHO Token

CHO is the fuel behind the Choise.ai ecosystem, last week we shared the massive reveal of how 20% of our B2B revenue from Vault, will be shared with our community, through the new $VLT token. This announcement is no different, the CHO token will be the core token in the Tringlr technology, which will be implemented in both the Choise.com retail application and our partners' solution.

CHO will be used as a token for transactions and transfers. A small annual fee for wallet storage will also be paid in CHO.

But the main part is the incentivization of the work done by secure agents — third parties who are authorizers. That is, they can store their funds in CHO, authorize transactions and operations, and earn money by completing and confirming these operations. This gives a boost to the growing CHO economy, opens new opportunities, and creates new use cases.

CHO is the leading B2B enterprise token, with utility across the Choise.ai ecosystem. As we grow our offerings, onboard more partners, and integrate Tringlr within more dApps and projects, the use of CHO will grow, and thus demand will be proportional to the growth of the ecosystem and our users.

Tringlr will change the way we store and custody our funds, ushering in a major revolution and creating real utilitarian value in blockchain solutions that allow for a completely new way of storing funds. And of course, this will all be powered by the CHO token.

The Future of Wallet Infrastructure, Built by Choise.ai - Sign Up For Whitelist!

Tringlr will be released to the market within the coming 3 months, and the whitelist to gain access is already live!

We'll be releasing more details, including a complete whitepaper on Tringlr, how it works, our hybrid MPC architecture, and its potential to change the way people store their crypto in the most secure way possible. Stay tuned for our announcement, and sign up for the whitelist in the meantime!

At Choise.ai we understand how people have lost power of their money, but we also possess the tools to restore this balance of power back to the people. No one should be ‘debanked’ without due cause, no one should have their funds frozen for unknown reasons, no one should have their life savings hacked or scammed. These are all the challenges that Tringlr will fix, true ownership and safe custody over your money. It’s yours, and only yours, forever.

Stay tuned, the world of Web3 wallets is about to change drastically.

$500K Lottery: CHO Launch on BSC Blockchain

As part of its expanding support of blockchains and our multi-chain vision, Choise.ai is also officially announcing the expansion to the BSC network. We made this decision based on the fact that the BSC network is a second-level network, a blockchain that grows with a large number of wallets. With over 440M wallets and 200K+ new ones created every day, we're excited to make CHO available to the growing BNB Smart Chain community, sending it to new heights!

The audience on the BSC Network has been steadily growing, it is supported by MetaMask, with the price per transaction being 10x cheaper than on the Ethereum network. This makes our expansion to the BSC Network ideal for the purpose of implementing various institutions, initiating programs for our community, for the purpose of distributing part of the drops, and other big events we have in store. This will give our community the opportunity to create wallets on BSC, top them up, transfer between the network and BSC, make transactions between them, and so on.

Listen closely! To support this key event, we are forming a special pool of CHO tokens worth $500,000, with the lottery to be distributed among the CHO owners on the BSC network.

The distribution mechanics will allow CHO owners to receive weekly tickets with numbers and every week to participate in the drawings of CHO tokens in the BSC network with a main prize fund of $100,000.

To participate, you need to keep CHO and receive new tickets every week. The drawing will be held in a live format. The distribution will be made fully decentralized according to the principle of a standard lottery (random). The lotteries will be completed when the entire bonus fund has been distributed.

Additional details on participation will be announced very soon, get involved and win big!

Stay Tuned For Next Announcement

That’s not all. Things are about to get even crazier. Our next announcement will be one of the most high-profile events we’ve ever released, completely changing the game for the Choise.ai ecosystem and our community. Stay tuned for this massive announcement, you’re not going to want to miss it.

Choise is on a mission to revolutionize its ecosystem by leveraging a strategic B2B focus. Three huge announcements are still to come. The next stage of Choise.ai is here.