About Truebit
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 on-chain and off-chain data while enabling smart contracts to securely perform complex computations in standard, easy-to-use 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 off-chain 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 on-chain 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 Verifier's 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 co-authored the whitepaper with Ethereum’s Solidity creator and team lead, Christian Reitwiessner. Jason holds a PhD in Mathematics, was a two-time US Fulbright Fellow, and co-discovered the Verifier’s Dilemma. Applications Applications include: Layer-2 settlements DeFi settlements and bookkeeping Batch verification of cryptographic signatures Checking proof-of-work Performing operation(s) 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 WebAssembly-based 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 An Intro to TrueBit: A Scalable, Decentralized Computational Court Learn more about Ethereum: Ethereum
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Market Stats
Market Cap
Not enough data
FDV
Not enough data
Circ. Supply
Not enough data
Max Supply
Not enough data
Total Supply
3.3T TRU
Diluted Valuation
$2.38K
Performance
Popularity
Not enough data
Dominance
Not enough data
Volume (24H)
$53.38K
1.8%
Volume (7D)
$353.39K
Volume (30D)
$1.49M
All time high
$1.29
Price Change (1Y)
Not enough data
95.97%
Additional details
Market details
TRU vs markets
↘ 95.07%
TRU vs BTC
↘ 94.91%
TRU vs ETH
↘ 95.2%
Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0xf65B5C5104c4faFD4b709d9D60a185eAE063276c |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.0069 | |
1 Day | $0.0040 | |
1 Week | $0.0069 | |
1 Month | $0.16 | |
1 Year | $0.17 |
FAQ
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Earn free crypto after making your first purchase.
Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Social stats
Popularity in posts
#1274
Contributors
98
Posts
130
% About Truebit
0.016%
Articles
1
X (Twitter)
50.89% bullish
Sentiment
4.5 ★
Highlights
98 unique individuals are talking about Truebit and it is ranked #1,274 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Truebit has an average sentiment score of 4.5 out of 5. Finally, Truebit is becoming less newsworthy, with 1 news articles published about Truebit.
On Twitter, people are mostly bullish about Truebit. There were 55.88% of tweets with bullish sentiment compared to 9.8% of tweets with a bearish sentiment about Truebit. 44.12% of tweets were neutral about Truebit. These sentiments are based on 112 tweets.
On Reddit, Truebit was mentioned in 10 Reddit posts and there were 40 comments about Truebit. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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