Long
TRUEBIT PROTOCOL soon to breakout!
Updated
About Truebit Protcol (
TRU):
From the founders of Ethereum, Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs.
Fundamental analysis:
1. OUT OF GAS (NUMBER 1 MOST IMPORTANT - FUCK GAS FEES)
Smart contracts consume network computation and storage resources as they update the system’s global state. Some operations may demand more resources, or gas, than the blockchain network’s modest, per-block limit permits. Truebit offers secure computation for smart contracts beyond this native capacity.
2. CRYPTOGRAPHY
Truebit combines with bulletproofs to achieve compact, zero-knowledge proofs without trusted setup. Smart contracts can leverage Truebit to execute complex operations such as bilinear maps, ring signatures, homomorphic encryption, or secure code validation.
3. CHECKING PROOF-OF-WORK
Verification of some underlying consensus, such as Ethereum's Ethhash or Litecoin's Scrypt, requires memory resources exceeding the practical limits of smart contracts. By moving such computation off-chain, Truebit enables dependent use cases such as the Dogethereum two-way peg and SmartPool mining.
4. LIVEPEER
Livepeer’s decentralized, live, streaming video platform permits Transcoders to earn rewards by processing content into various codecs and formats. Truebit verifies outputs of transcoding tasks, thereby guaranteeing content quality as well as fair remuneration for Transcoders. Users can share video without relying on a centralized resource or authority.
5. INSURANCE
The dream of fair premiums together and accurate, efficient claim processing without a trusted, centralized manager requires computational consensus. Assuming formal event criteria, Truebit can transparently aid in verifying claims, automating payouts, and maintaining premiums.
Supported by:
Projects mentioning #TruebitTRU so far:
VitalikButerin
Ethereum
@oceanprotocol
Chainlink
@iearnfinance
@golemproject
solana
@0xPolygon
Technical analysis:
As per text.
TRU):From the founders of Ethereum, Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs.
Fundamental analysis:
1. OUT OF GAS (NUMBER 1 MOST IMPORTANT - FUCK GAS FEES)
Smart contracts consume network computation and storage resources as they update the system’s global state. Some operations may demand more resources, or gas, than the blockchain network’s modest, per-block limit permits. Truebit offers secure computation for smart contracts beyond this native capacity.
2. CRYPTOGRAPHY
Truebit combines with bulletproofs to achieve compact, zero-knowledge proofs without trusted setup. Smart contracts can leverage Truebit to execute complex operations such as bilinear maps, ring signatures, homomorphic encryption, or secure code validation.
3. CHECKING PROOF-OF-WORK
Verification of some underlying consensus, such as Ethereum's Ethhash or Litecoin's Scrypt, requires memory resources exceeding the practical limits of smart contracts. By moving such computation off-chain, Truebit enables dependent use cases such as the Dogethereum two-way peg and SmartPool mining.
4. LIVEPEER
Livepeer’s decentralized, live, streaming video platform permits Transcoders to earn rewards by processing content into various codecs and formats. Truebit verifies outputs of transcoding tasks, thereby guaranteeing content quality as well as fair remuneration for Transcoders. Users can share video without relying on a centralized resource or authority.
5. INSURANCE
The dream of fair premiums together and accurate, efficient claim processing without a trusted, centralized manager requires computational consensus. Assuming formal event criteria, Truebit can transparently aid in verifying claims, automating payouts, and maintaining premiums.
Supported by:
Projects mentioning #Truebit
TRU so far:VitalikButerin
Ethereum
@oceanprotocol
Chainlink
@iearnfinance
@golemproject
solana
@0xPolygon
Technical analysis:
As per text.
Note
Projects mentioning/implementing Truebit so far:ethereum - ethresear.ch/t/evm-optimistic-rollup-using-truebit/9318
chainlink - github.com/ebarakos?tab=repositories
tron - tron.network/sunnetwork/doc/guide/
matic - github.com/maticnetwork/whitepaper
nervos - talk.nervos.org/t/truebit-on-nervos/4237
zippie - github.com/zippiehq/quickjs-truebit
ocean - blog.oceanprotocol.com/verifiable-compute-services-within-ocean-protocol-network-77647184cb51
golem - assets.website-files.com/60005e3965a10f31d245af87/60352707e6dd742743c75764_Golemwhitepaper.pdf
yearn finance - gist.github.com/banteg/e0fe96c6909fd3eb762df54369f4cb16
live peer - github.com/livepeer/verification-truebit
Ethereum Research (ethresear.ch/t/evm-optimistic-rollup-using-truebit/9318)
EVM optimistic rollup using Truebit
The interactive verification protocol Truebit recently launched. This post will assume that something like Truebit exists as a black box giving delayed results to queries of the form “run some code and return the output”, and show how to build an EVM optimistic rollup on top of it. Truebit accepts code in WebAssembly. There are many Ethereum clients written in many languages, and many of them have compilation paths to WASM (eg. go, Java, Rust). The first step would be to create a “stateless” ve...
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