TrueBit

TrueBit

TrueBit aims to support more powerful smart contract computing power on the distributed application platform, and the most ambitious goals include providing the computing power needed for applications such as rendering photos, machine learning and artificial intelligence.

Its inventors foresee a way to augment Ethereum's computing power with another distributed network that performs and verifies computations, while disagreements are resolved on the Ethereum blockchain. In theory, this would limit the system's workload on lower layers, where data is also stored by a large global network of nodes.

3iQ Partners with Coinbase and Tetra Trust to Expand Canadian Cryptocurrency ETP: Jinse Finance reports that digital asset management company 3iQ has announced a new partnership with Coinbase and Tetra Trust to expand the Canadian digital asset exchange-traded product (ETP) ecosystem . Through this partnership, Coinbase and Tetra will act as custodians for 3iQ's ETPs, including the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ) and Bitcoin Fund (TSX: QBTC), the latter becoming North America's No. A Bitcoin ETP. They will also act as custodians for the 3iQ CoinShares Ether ETF (TSX: ETHQ) and Ether Fund (TSX: QETH). 3iQ has also selected Coinbase Prime to provide cryptocurrency trading, prime brokerage and reporting capabilities for its cryptocurrency ETP product. 3iQ will transition out of its current hosting arrangement and this new partnership is expected to be fully effective in the coming months. (prnewswire) [2022/9/21 7:11:57]

Its team includes Christian Reitwiessner, a developer and creator of Solidity, the web smart contract language, and Jason Teutsch, a mathematician and postdoc at the University of Alabama at Birmingham.

Ethereum side chain xDai: Arbitrum open source instance has been deployed to its network: On September 2, Ethereum side chain xDai said on Twitter that it has deployed the open source instance of Arbitrum, the Ethereum expansion plan, to the xDai network. The project is called AoX. xDai stated that this version was not officially deployed by Arbitrum, but was deployed for research and development purposes. [2021/9/2 22:55:38]

TrueBit solves the problem with layers on the blockchain, outsourcing the verification of computation. Both market participants and solvers can perform computing tasks, instead of every node computing every smart contract. Computing is validated by a marketplace of computers outside of the blockchain. Even if only one participant disagrees with the solver's calculation, they can resolve the dispute by putting that result in the blockchain.

The parallel computing module independently developed by TrueChain has been developed and open sourced. TPS can be increased to more than 10,000: According to official news, the first phase of TrueChain 2.0 parallel computing module has been developed and open sourced. The main features are: 1. Make full use of the existing hardware multi-core architecture, change the transaction from the original serial processing to parallel processing, and bring multiple improvements to the execution of complex contracts; 2. No need for dedicated parallel contracts, optimize DAG grouping Strategy, increase execution result conflict check, more secure, support parallel execution of all original transfers and smart contracts; 3. Optimize state read and write logic, break through i/o bottleneck. After the parallelization of transactions, after breaking the bottleneck of transaction execution, the I/O bottleneck of the state becomes a new bottleneck of execution efficiency. Through parallel execution of transactions, TPS can be increased by 3-5 times. In the laboratory environment, TPS can be increased to More than 10000. See the original link for the open source address. [2021/2/22 17:39:10]

At the end of the verification game, either the cheating solver is caught and penalized, or the challenger pays for the resources consumed by his false alarms.

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