Easy to read TrueBit

The basic idea of TrueBit is that since it is not possible and expensive to implement on the chain, these large computational tasks are put on the chain, and the results are submitted to the chain, while the verifiability of the results is ensured through a game-based economic mechanism.

The dilemma on the Ethernet chain

The original goal of Ethernet was to be the “world computer”, but the core of the blockchain is security and decentralization, where all nodes are involved when users run smart contracts. These nodes execute via EVM, and these executions consume computational resources, with each computation charging a “gas fee”. This means that complex contracts can be expensive. If a contract is too complex, it is obviously not suitable for deployment on the chain.

In addition, it is known that Ether has Gas Limits. with Gas Limits, the benefits are that Ether can prevent denial of service attacks, encourage transaction verification, etc. However, it also has problems: Ether has a lot of problems with Gas Limits. However, it also has a problem: intensive and large computational tasks cannot be performed on the Ethernet chain. gas Limits make handling large computational tasks not only costly but also impossible. Imagine having thousands of computers to store and run the same instructions.

TrueBit: Underchain + Verifiable + Gaming Mechanism

To solve this problem, TrueBit’s basic idea is that since it is not possible and expensive to implement on-chain, these large computational tasks are put off-chain and the execution results are submitted to the chain, while the verifiability of the results is ensured through a game-based economic mechanism.

This solution can give the opportunity to land computations that were previously unattainable on the chain (such as machine learning, etc.) while being acceptable in terms of cost. Regarding off-chain computation, we have introduced solutions such as Zk-Rollups and Optimistic Rollups before, which can be found in Blue Fox Notes’ previous article “Read ZK Rollup and Optimistic Rollup in One Article: Important Scaling Directions for Ether”.

However, TrueBit’s approach does not rely on cryptographic proofs, but on a game mechanism to verify whether it is correctly executed, i.e. the correctness of its result does not rely on mathematics, but on a multi-party game mechanism of the verifier.

TrueBit allows computation task takers to perform the computation tasks of a smart contract by building an off-chain computation market. It saves computation costs by not having the redundancy and inefficiency of all nodes executing. Also, there are no Gas Limits for on-chain blocks, and only the execution results end up on the chain.

In addition, there is a possible verifier’s dilemma for Ethernet smart contract execution. On the ethereum blockchain, block producers are rewarded, while block validators are not. This can incentivize nodes to spend more resources to mine the next block than to properly validate the proposed block. This is detrimental to the proper execution of smart contracts and may not even be included in the blocks.

TrueBit introduces a “verifiable game” mechanism to challenge and verify the correctness of contract execution through a gaming mechanism. Users post tasks to execute smart contracts through TrueBit’s interface, and the results submitted by the solvers of the tasks can be publicly audited. The results can be challenged by any third party.

Any Ethernet node can be an arbiter and can decide disputes. Both the solver and the challenger of a task need to pledge TRU tokens (TrueBit’s tokens, which are specifically mentioned below) assets. Either party is rewarded with tokens for winning, while the party whose calculations lack accuracy is penalized with a token reduction. Task solving and challenges can be done through TrueBit OS.

The TrueBit protocol itself submits incorrect smart contract results and encourages challengers to find these “errors”. The TrueBit protocol itself submits incorrect smart contract results, encouraging challengers to find these “errors” and giving challengers the opportunity to earn rewards from the system, thereby increasing the resilience of the system.

TrueBit’s token economy serves its verifiable computation

TrueBit’s token is a TRU (note: there are several token symbols that are TRUs, so don’t get confused), and its token economy serves its goal of verifiable computation.

The token economy is particularly important to TrueBit’s operation because it seeks to achieve verifiable computation through economic gaming mechanisms. In the TrueBit token economy, the main roles include task proposer, solver, and verifier. These roles are connected through a token economy that ultimately serves TrueBit’s verifiable computational solution.

TrueBit essentially builds an off-chain computing marketplace. The primary purpose of the task solver is to be rewarded with TRU tokens for completing computational tasks. Task solvers run continuously in the TrueBit OS, and they bid on every task posted on the network, unless they filter the tasks. Each task has a solver, and the task submitter chooses one at random from the registered task solvers.

To ensure correct execution, task validators are also involved. To incentivize the validator, the task submitter also needs to reward the validator with TRU tokens. The verifier’s solution must match the solver’s solution. There is no limit to the number of validators per task, and the validator fee is divided equally among these validators. Validators can also set filters for tasks, such as minimum TRU rewards, etc.

According to Truebit, the smart contract can be thought of as a black box, with black box input and output, regardless of the Gas Limits of the Ether block. users can perform all network interactions, including acquiring, storing TRU tokens, etc., through the TrueBit OS client.

From a process perspective, first the task provider publishes the computation task to the TrueBit network. The task provider consists of the task owner and the task submitter. The task owner provides the function f to be computed, the virtual machine parameters, the smart contract address, etc. The task submitter provides the applicable input x, pays the TRU token fee, etc. The task owner can submit tasks via TrueBit OS, in which case the task owner and the submitter share the same address. In addition, the task owner can also deploy a smart contract that interacts with the task submitter.

Easy to read TrueBit

(Token Stream of the TrueBit Network, TrueBit)

When a task provider publishes a task, it also needs to specify some economic parameters.

  • Token reward for the task solver

If the task solver completes the task, it can receive a TRU token reward from the task submitter.

*Validation fee for the validator

The validation fee is also paid by the task submitter in TRUs and it is distributed among the validators performing the task. The higher the validator fee, the more validators can be attracted.

  • Minimum storage cost

Task solvers and validators need to pledge a certain amount of TRU tokens in order to perform the task.

Uses and Value Capture of TRUs

The TRU token economy serves its verifiable compute market. In turn, TRU tokens are used to measure the value of computational tasks and are their payment medium.

*TRUs are used to pay for tasks

Task solvers and validators are rewarded with TRU tokens for their computational labor, and in TrueBit’s system, TRU tokens are key to the operation of the system.

*TRUs are used to qualify participants

Both task solvers and verifiers are required to pledge a certain amount of TRUs to prevent mischief.

*TRUs are used for cold start grants

For a specific period of time, TrueBit provides additional grants to each task participant, including the task owner, solver and verifier, in order to achieve a cold start. The bonus command can be run in Truebit OS to check the current grant amount.

*Value Capture of TRU

TRU tokens are created or destroyed over time based on cumulative demand. Users buy TRUs with ETH, or retire TRUs in exchange for ETH.

Users deposit ETH into a reserve escrow contract to purchase TRUs, and if they make a retire transaction, they can withdraw the corresponding ETH from the escrow contract.

In addition, each TrueBit task also destroys TRU tokens. The current destruction rate, the current purchased token price, and the retire price can be found by checking the task cost command in TrueBit OS.

The demand for TRUs comes from the market for computing tasks in TrueBiT, and if the market for off-chain computing on Ether is larger, then the potential demand for TRUs is larger. The larger the computing task demand side (e.g. applications deploying contracts), the more TRUs need to be purchased to pay for computing tasks; the larger the computing market, the more task solvers and validators there are, and the more TRU tokens need to be pledged to qualify for the corresponding services; the more computing tasks there are, the more TRUs will be destroyed, which will also cause TRUs to be removed from circulation.

With the arrival of web3, more applications may combine with Layer1 of Ether and off-chain computing to realize dApp use cases that could not be realized before, such as decentralized video applications, decentralized social applications, decentralized machine learning market, etc. If TrueBit can capture a portion of this off-chain computing market in the web3.0 era, it has the opportunity to support the value of TRUs.

Of course, there is no doubt that the off-chain computing market based on Ether will be very competitive in the future, and TrueBit will need to prove its maturity in terms of solutions and gain wide support from the developer community in terms of operations.

Ethernet Network Costs

Since interaction with the Ethernet blockchain requires the payment of a gas fee, TrueBit (the company) charges each solver and submitter of a task the appropriate ETH network fee. Verifiers do not have to pay ETH network fees. In addition, the task solver address must also purchase a one-time license fee (paid to the company) in order to join the TrueBit network.

Project Background

Finally, TrueBit’s background includes its founder Jason Teutsch; the white paper was also written by Christian Reitwiessner of the Ethernet Foundation, who is the technical implementation lead for the Solidity programming language at the Ethernet Foundation. In terms of financial support, TrueBit is a leading provider of programming language technology. In terms of funding, TrueBit has received investment from Fred Ehrsam, former co-founder of Coinbase, and Polychain Ventures.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/easy-to-read-truebit/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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