What is Truebit (TRU) | What is TRU token

Scalable, Trustless Computation

Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs.

The Protocol

While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains. Truebit counteracts this shortcoming via a trustless, retrofitting oracle which correctly performs computational tasks. Any smart contract can issue a computation task to this oracle in the form of WebAssembly bytecode, while anonymous “miners” receive rewards for correctly solving the task.

The oracle’s protocol guarantees correctness in two layers: a unanimous consensus layer where anyone can object to faulty solutions, and an on-chain mechanism which incentivizes participation and ensures fair remuneration. These components formally manifest themselves through a combination of novel, off-chain architecture and on-chain smart contracts.

Rather than relying on external, cryptographic proofs of correctness, Truebit leverages game theoretic principles to effectively increase the on-chain computation power of existing networks.

Use Cases

OUT OF GAS

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.

ON-CHAIN 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.

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.

HIGH TRANSACTION THROUGHPUT

Miners both select transactions to include in blocks and verify block contents. One can imagine a blockchain consensus protocol which decouples these two activities so that miners need only select blocks, and blocks clear once Truebit verifies them. Apply Truebit for bookkeeping tasks like cumulative interest payments and batch trading.

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.

ARTDAO

A machine entity with blockchain-based financial resources and access to computational power could conceivably sustain itself by producing art, selling it, and using sale revenue to refine its own program code. Truebit serves as a catalyst for combining the power of unstoppable, autonomous systems, like Bitcoin and Ethereum, with machine learning.

PLASMA

Plasma scales transaction throughput through a hierarchy of blockchains in which parent “chains” have greater authority than their children. When a provable malfunction, or “fraud proof,” occurs in a child chain, a witness of that error allows its parent to reconcile the error via Truebit verification.

FEDERATED LEARNING

Share and process information without revealing raw local data to the network. Truebit can securely perform machine learning and statistical operations without burdening or trusting user edge nodes. Underlying consensus guarantees correct execution in the presence of economic incentives.

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.

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