Truebit is a very promising protocol for verifying complex computations on a blockchain. It combines off chain computation with on chain verification to enable efficient and secure execution of smart contracts. Truebit achieves this by implementing a verification game between ‘verifiers’ and ‘solvers’ and having a crypto-economic incentive mechanism that ensures off-chain computations are correctly and provide accurate verification.
Truebit’s advantages over traditional blockchain based smart contracts include:
- Lower costs
- Faster execution times
- Higher scalability
It also provides a flexible framework for building a wide range of apps that require secure and efficient computation in real world industries such as gaming, DeFi, insurance and scientific computing to list a few.
Truebit is very complex and technical project that has been worked on since 2017 but only stealth launched its token on decentralized exchanges in 2021. The project itself is an usually secretive one with not many announcements or updates given from the team over this six year period so it’s hard to determine how far along they are into ensuring the correctness of off chain computations. Show Less
