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TrueBit

TrueBit

TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. TrueBit is intended to increase the scalability of blockchain networks like Ethereum.

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Edits on 25 Sep 2018
Jude Gomila
Jude Gomila approved a suggestion from Golden's AI on 25 Sep 2018 7:27 pm
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In order to decouple utility from rewards, the protocol must assign TRU tokens to a unique role among these two functions. Applying TRU to network rewards incentivizes token holders to maintain their support of the network community even after obtaining tokens. Task Givers, on the other hand, may wish to pay for network servicesnetwork services in a variety of different coins. Decentralized exchange platforms, such as 0x or Kyber, offer potential benefits for TrueBit applications.

Jude Gomila
Jude Gomila approved a suggestion from Golden's AI on 25 Sep 2018 7:27 pm
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Miners, (also known as 'Solvers' and 'Verifiers') are used in exchange for dedicating computational resources, receive rewards. In contrast to BitcoinBitcoin mining, TrueBit mining requires no specialized hardware to participate, however, also unlike Bitcoin, miners in TrueBit cannot switch on their computers and immediately support the network. For security reasons, each TrueBit miner deposits tokens into a smart contract before earning rewards. 

Edits on 24 Sep 2018
Jude Gomila
Jude Gomila edited on 24 Sep 2018 10:03 pm
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Miners, (also known as 'Solvers' and 'Verifiers') are used in exchange for dedicating computational resources, receive rewards. In contrast to Bitcoin mining, TrueBit mining requires no specialized hardware to participate, however, also unlike Bitcoin, miners in TrueBit cannot switch on their computers and immediately support the network. For security reasons, each TrueBit miner deposits tokens into a smart contract before earning rewards. 



The TrueBit protocol uses the TRU token which has the primary function of rewarding Verifiers for correctly performing computational tasks.



TrueBit's network has upfront token costs. The initial jackpot repository requires a deposit to kickstart the system, but so may each successive upgrade. Experimental protocol cryptoeconomics and smart contract codes require calibration and maintenance. In particular, token reserves test the protocol's empirical parameters and security features. The TrueBit protocol runs with "real" money, through a stream of tasks, in order to "prove" its security guarantees. An infusion of new tokens ensures sufficient supply for these purposes and generates value for the network.



In order to decouple utility from rewards, the protocol must assign TRU tokens to a unique role among these two functions. Applying TRU to network rewards incentivizes token holders to maintain their support of the network community even after obtaining tokens. Task Givers, on the other hand, may wish to pay for network services in a variety of different coins. Decentralized exchange platforms, such as 0x or Kyber, offer potential benefits for TrueBit applications.

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The TrueBit protocol has potential for enhancements in communication efficiency, speed, versatility, and security. Zack Lawrence recently introduced TrueBit Beta, a protocol proposal which eliminates TrueBit's forced error mechanism. 

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Edits on 7 Aug 2018
Golden AI"Linkify text links in standard tables"
Golden AI edited on 7 Aug 2018 6:24 pm
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Further reading

Author
Title
Link
Type

Jason Teutsch & Christian Reitwießner

Truebit whitepaper: A scalable verification solution for blockchains



Edits on 13 May 2018
Jude Gomila
Jude Gomila edited on 13 May 2018 6:29 pm
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TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. It is written as a smart contract on EthereumEthereum and is intended to increase the scalability of blockchain networks by moving computation off-chain (layer-2).

Edits on 11 May 2018
Tianchang He
Tianchang He edited on 11 May 2018 12:10 am
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TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. It is written as a smart contractsmart contract on Ethereum and is intended to increase the scalability of blockchain networks by moving computation off-chain (layer-2).

Edits on 28 Nov 2017
Alex Dean
Alex Dean edited on 28 Nov 2017 9:40 pm
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TrueBit

TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. TrueBit is intended to increase the scalability of blockchain networks like Ethereum.

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Jason Teutsch



Christian Reitwießner



Edits on 9 Oct 2017
Alex Dean
Alex Dean edited on 9 Oct 2017 11:15 pm
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TrueBit

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TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. TrueBit is intended to increase the scalability of blockchain networks like Ethereum.

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Introduction

TrueBit is a dispute resolution and financial incentive layer enabling blockchain computations to take place off-chain with dispute resolution on-chain. It is written as a smart contract on Ethereum and is intended to increase the scalability of blockchain networks by moving computation off-chain (layer-2).



The TrueBit whitepaper released on March 7, 2017 was written by founder and mathematician Jason Teutsch along with the creator of Ethereum's Solidity smart contract language Christian Reitwießner.





Further reading

Author
Title
Link

Jason Teutsch & Christian Reitwießner

Truebit whitepaper: A scalable verification solution for blockchains

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Alex Dean"Initial topic creation"
Alex Dean created this topic on 9 Oct 2017 10:53 pm
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