Truebit is a blockchain enhancement that enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs. It allows these computations to be executed on off-chain systems, while being validated by Ethereum miners. The results of these computations are then available to on-chain smart contracts. nnTruebit makes use of proof systems and game theory to build a protocol. With this protocol, a Task Giver can ask a third party, the Solver, to execute a complex computation in exchange for a reward. These computations can be executed in languages such as Go, Python, C++, and Solidity. Verifiers can then challenge the results, incentivising the Solver to be honest or risk losing their reward. This incentive structure guarantees fast and reliable results, eliminating the need for a trusted third party.
Truebit is a blockchain enhancement that enables smart contracts to securely perform complex computations in standard programming languages at reduced gas costs. It allows these computations to be executed on off-chain systems, while being validated by Ethereum miners. The results of these computations are then available to on-chain smart contracts. nnTruebit makes use of proof systems and game theory to build a protocol. With this protocol, a Task Giver can ask a third party, the Solver, to execute a complex computation in exchange for a reward. These computations can be executed in languages such as Go, Python, C++, and Solidity. Verifiers can then challenge the results, incentivising the Solver to be honest or risk losing their reward. This incentive structure guarantees fast and reliable results, eliminating the need for a trusted third party.
It is a DeFi uncollateralized lending protocol developed by the TrustToken team. Lenders can borrow cryptocurrencies with predictable loan rates without the need to pledge collaterals like Aave, Compound, and Venus. In the long term, TrueFi aims to become a market-driven, automated credit rating and lending system. This will demand building beyond the rigid, conservative constraints such as minimum/maximum APY and high TRU participation factor. It will also require increased levels of responsibility from users, especially for onboarding new borrowers beyond the pre-approved whitelist and approving new loan types.