- What Is Truebit TRU Truebit allows software running outside a blockchain environment to provide trusted results to smart contracts and applications running within a blockchain. - The platform allows practically unlimited external compute resources to be applied in a trusted way to extend the performance, throughput, and scalability of its host blockchain. - Research began in 2015 on this verification solution which today connects blockchains to both onchain and offchain data while enabling smart contracts to securely perform complex computations in standard, easytouse programming languages at significantly reduced gas costs. - Unlike sharding and other methods for distributing high transaction throughput, Truebit processes complex and large transactions via a consensus mechanism involving a minimal number of redundancies, making it a novel solution for Web 3.0 infrastructure. - The bulk of computation occurs with offchain resources. - Verifier’s Dilemma What Makes Truebit Unique Rather than relying on external, cryptographic proofs of correctness, Truebit brings scalable computation to blockchains by leveraging game theory principles and financial incentives to increase the onchain computation power of existing networks and reduce marginal gas costs. - While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains due to the Verifiers Dilemma. - Truebit counteracts this via a retrofitting oracle that achieves correct computational results. - Truebit’s microeconomy ensures trustless verification through a financial incentive layer atop a dispute resolution layer. - Who is the founder of Truebit TRU Truebit was founded by mathematician and computer scientist Jason Teutsch who coauthored the whitepaper with Ethereum’s Solidity creator and team lead, Christian Reitwiessner. - Jason holds a PhD in Mathematics, was a twotime US Fulbright Fellow, and codiscovered the Verifier’s Dilemma. - ApplicationsApplications include:Layer2 settlements #DeFi settlements and bookkeepingBatch verification of cryptographic signaturesChecking proofofworkPerforming operations with high computational complexity Any #smart-contract can issue a computation task to Truebit in standard languages C, C++, or Rust without concern for Ethereum’s gas limit. - Truebit’s WebAssemblybased architecture can read functions and data from Ethereum bytes, smart contract program code, or IPFS. - What kind of token is Truebit TRU The supply of TRU tokens may fluctuate over time. - Learn more about Truebit: Getting started with Truebit on Ethereum Intro to TrueBit: A Scalable, Decentralized Computational Court Learn more about Ethereum:Ethereumhttps://ethereum.org/en/.
Summary of the coin Truebit Protocol
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