How-to, Tips and Articles: Truebit Protocol | Building the Verification Layer for Blockchains | Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs | 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.

Saturday, May 29, 2021

Truebit Protocol | Building the Verification Layer for Blockchains | Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs | 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.

Truebit Protocol: Truebit is a blockchain enhancement which enables smart contracts to securely and affordably perform complex computations in standard programming languages.

Truebit Protocol | Building the Verification Layer for Blockchains | Truebit is a blockchain enhancement which enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs | 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.

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