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About TRU

What Is Truebit (TRU)?Truebit allows software running outside a blockchain environment to provide trusted results to smart contracts and applications running within a blockchain. The platform allows practically unlimited external compute resources to be applied in a trusted way to extend the performance, throughput, and scalability of its host blockchain. Research began in 2015 on this verification solution which today connects blockchains to both on-chain and off-chain data while enabling smart contracts to securely perform complex computations in standard, easy-to-use programming languages at significantly reduced gas costs. Unlike sharding and other methods for distributing high transaction throughput, Truebit processes complex and large transactions via a consensus mechanism involving a minimal number of redundancies, making it a novel solution for Web 3.0 infrastructure. The bulk of computation occurs with off-chain resources.Verifier’s Dilemma - What Makes Truebit Unique?Rather than relying on external, cryptographic proofs of correctness, Truebit brings scalable computation to blockchains by leveraging game theory principles and financial incentives to increase the on-chain computation power of existing networks and reduce marginal gas costs.While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains due to the Verifier's Dilemma. Truebit counteracts this via a retrofitting oracle that achieves correct computational results. Truebit’s microeconomy ensures trustless verification through a financial incentive layer atop a dispute resolution layer.Who is the founder of Truebit (TRU)?Truebit was founded by mathematician and computer scientist Jason Teutsch who co-authored the whitepaper with Ethereum’s Solidity creator and team lead, Christian Reitwiessner. Jason holds a PhD in Mathematics, was a two-time US Fulbright Fellow, and co-discovered the Verifier’s Dilemma.ApplicationsApplications include:Layer-2 settlementsDeFi settlements and bookkeepingBatch verification of cryptographic signaturesChecking proof-of-workPerforming operation(s) with high computational complexityAny smart contract can issue a computation task to Truebit in standard languages (C, C++, or Rust) without concern for Ethereum’s gas limit. Truebit’s WebAssembly-based architecture can read functions and data from Ethereum bytes, smart contract program code, or IPFS.What kind of token is Truebit (TRU)?The supply of TRU tokens may fluctuate over time.

Truebit (TRU) is a cryptocurrency launched in 2020. TRU has a current supply of 0 with 0 in circulation. The last known price of TRU is 0.180432060672 USD and is 0.005627392379 over the last 24 hours. It is currently trading on active market(s) with $76,570.64 traded over the last 24 hours. More information can be found at http://www.truebit.io/.

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Updated Jul 16, 2024 7:45 pm
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TrueFi Unveils Plans for Real-World-Asset-Based Lending Platform Trinity
TrueFi Unveils Plans for Real-World-Asset-Based Lending Platform Trinity
According to CoinDesk, decentralized finance (DeFi) lender TrueFi has announced plans to launch a real-world-asset-based (RWA) lending platform called Trinity. The platform aims to increase utility for its tokenized U.S. Treasury offering. Trinity will allow users to take out crypto loans using tokenized RWAs as collateral. TrueFi's Treasury bill token (tfBILL) will be the first, with plans to add other yield-generating tokenized products in the future, according to a TrueFi governance proposal by ecosystem developer organization Wallfacer Labs. Investors will be able to borrow the platform's TRI token by pledging the tfBILL tokens and use the borrowed crypto to create DeFi strategies to earn up to 15% annualized yield. Investors can also buy TRI tokens on secondary markets such as decentralized exchanges and stake them to earn a yield from the platform's borrowing fees. The proposal to launch Trinity is pending approval by the TrueFi decentralized autonomous organization. The proposed new platform follows a resurgence in DeFi activity in recent months, with crypto-native yields and demand for leverage rapidly increasing amid the roaring digital asset bull market. TrueFi was a key lender during the previous crypto bull cycle, originating over $1.5 billion of undercollateralized loans mainly to trading firms and market makers. However, as crypto prices plummeted in 2022, some borrowers failed to repay their loans and depositors fled, causing the protocol's total value locked to drop to $20 million by the end of 2022 from a peak of over $900 million in 2021. Last year, TrueFi introduced the tokenized U.S. Treasury offering, which recently attracted $8.7 million of deposits. TrueFi's governance token (TRU) jumped 14% after the proposal was published and has gained some 20% in the past 24 hours.
Mar 26, 2024 1:10 am

Frequently Asked Questions

  • What is the all-time high price of Truebit (TRU)?

    The all-time high of TRU was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Truebit (TRU) is 0. The current price of TRU is down 0% from its all-time high.

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  • How much Truebit (TRU) is there in circulation?

    As of , there is currently 0 TRU in circulation. TRU has a maximum supply of 0.

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  • What is the market cap of Truebit (TRU)?

    The current market cap of TRU is 0. It is calculated by multiplying the current supply of TRU by its real-time market price of 0.180432060672.

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  • What is the all-time low price of Truebit (TRU)?

    The all-time low of TRU was 0 , from which the coin is now up 0%. The all-time low price of Truebit (TRU) is 0. The current price of TRU is up 0% from its all-time low.

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  • Is Truebit (TRU) a good investment?

    Truebit (TRU) has a market capitalization of $0 and is ranked #8133 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Truebit (TRU) price trends and patterns to find the best time to purchase TRU.

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