Cyber•Fund is introducing a series of publications that provide an overview of some of the best speaker topics we’ve hosted at our meetups. Sami Makela — a senior core developer currently working on the TrueBit project — spoke about how TrueBit is being used to verify off-chain computations, and provides a “computational boost” of sorts to Ethereum based smart contracts.
TrueBit is a system built on the Ethereum blockchain that conducts off-chain transactions.
In order to run a smart contract the user must provide verified calculations. Each particular block includes transactions, and in turn each node conducts the transactions. If a miner does not function correctly, the block will be rejected. This model holds a few limitations, the most prominent of which is the limit of gas consumed for every block. This particular amount of gas can be insufficient to accomplish a given computational task, and drawn-out calculations are expensive on Ethereum. TrueBit provides the user with more effective off-chain solutions.
This form of computing begins calculating a square root. It often takes a great deal of time to calculate a square root with a smart contract. If these types of calculations take place off-chain, then an answer is immediately generated and can be used to automatically execute commands. The use of an ordered, linked-list in addition to off-chain calculating simplifies the overall implementation of data structures.
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The TrueBit project splits calculations into simpler steps; each of which determines the next one. This reduces the number of additional calculations for every new stage. TrueBit uses the following tools:
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The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
