Ethereum Supercomputer Technology Receives Positive Update

Truebit, the tech that is meant to revolutionise the ethereum network is already being given test runs, and guess what, it’s working perfectly. Back in December last year when the cryptocurrency world was having the bullish run of a lifetime, the Ethereum developers recognised the need to upgrade its systems to be able to meet demands of ever increasing transaction numbers and scaling issues.

As part of its plans to meet this goal, the network started works on Truebit, a technology its developers say will make ethereum a world “supercomputer”. Since December much has not been heard about the project and many might have even forgotten about it. However surfacing reports from most of the developers point to one thing, they have been able to run successful tests on the project.

Ethereum Partners Dogecoin
What Truebit actually did was to build a relatively smaller version of the ethereum blockchain called specifically for the test run with Dogecoin. This dogethereum bridge isn’t to be confused with Dogecoin however. image

Per the developers’ comments , it’s been successful so far, but their main hindrance now is getting it unto a larger scale. Something they acknowledged wouldn’t be so easy as thought by many.

The dogethereum bridge is described as a “long-stalled bitcoin technology, sidechain.” According to one developer they “pull coins off of the dogecoin blockchain and put them onto ethereum in the form of ERC-20 tokens, and be able to move them back.”

With the dogethereum mumbo jumbo, coins are quite difficult to lock on/in Dogecoin as its quite expensive to prove that the person who owns these Dogecoins is actually the same person who owns the ether on the other end of the line.

Tests Are Based On Altruism
Most of the testing of the tech was done on the grounds of the altruistic behaviours of the very participants in the work. The people who have been executing the verification of transactions have all been doing so out of benevolence and not necessarily because they are being paid to do so.

Truebit aims at being able to get participants for verification voluntarily who get paid for their execution of tasks.

The public release of the full app will not be until somewhere middle of this year. One developer of Truebit has said that “It’s always hard to make estimates like that because one of the rules of software engineering is, however long you think something’s going to take, it’ll take three times as long,”.

Definitely we can’t hope to see it integrated into public platforms now but some key partnerships that have been made with LivePeer and Aragon may help us have a first experiences of the tech a bit earlier. But the finished product will surely make it possible to execute any form of computation with the ethereum network.

Do you think that Truebit really has the potential to make Ethereum the world supercomputer it speaks of? Despite its success on a much smaller scale, will it really work on the large/ global scale judging by how expensive it will be and that computations will have to be done via volunteers who later get paid in the end? Share your thoughts on these and more with us on Telegram.

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