Scalable,
Trustless
Computation

Truebit is an open source community committed to appreciation, understanding, and implementation of cryptoeconomic protocols and scalable, blockchain infrastructure.

                        

the_Protocol

While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains. Truebit counteracts this shortcoming via a trustless, retrofitting oracle which correctly performs computational tasks. Any smart contract can issue a computation task to this oracle in the form of WebAssembly bytecode, while anonymous “miners” receive rewards for correctly solving the task.

 

The oracle’s protocol guarantees correctness in two layers: a unanimous consensus layer where anyone can object to faulty solutions, and an on-chain mechanism which incentivizes participation and ensures fair remuneration. These components formally manifest themselves through a combination of novel, off-chain architecture and on-chain smart contracts.

 

Rather than relying on external, cryptographic proofs of correctness, Truebit leverages game theoretic principles to effectively increase the on-chain computation power of existing networks.

White Paper

the_Truebit_Virtual_Machine

Applications

Out of gas

out of gas icon
zero verification proof icon

Zero-knowledge verification

Checking proof-of-work

Smart contracts consume network computation and storage resources as they update the system’s global state. Some operations may demand more resources, or gas, than the blockchain network’s modest, per-block limit permits. Truebit offers secure computation for smart contracts beyond this native capacity.

A Zero-knowledge proof provides a witness of some valid statement without revealing information beyond the validity itself. Bulletproofs, which require no trusted setup and offer efficient proof construction and verification, can be combined with Truebit to achieve zero knowledge proofs in Ethereum.

Verification of some underlying consensus, such as Ethereum's Ethhash or Litecoin's Scrypt, requires memory resources exceeding the practical limits of smart contracts.  By moving such computation off-chain, Truebit enables dependent use cases such as Dogethereum and SmartPool.

ArtDAO

artDao icon

Livepeer

livepeer icon
high transaction icon

High transaction throughput

Miners in Nakamoto consensus perform two related functions. They select transactions to include in blocks, and they verify block contents. One can imagine a blockchain consensus protocol which decouples these two activities so that miners need only select blocks, and blocks clear once Truebit verifies them.

Livepeer’s decentralized, live, streaming video platform permits Transcoders to earn rewards by processing content into various codecs and formats. Truebit verifies outputs of transcoding tasks, thereby guaranteeing content quality as well as fair remuneration for Transcoders. Users can share video without relying on a centralized resource or authority.

A machine entity with blockchain-based financial resources and access to computational power could conceivably sustain itself by producing art, selling it, and using sale revenue to refine its own program code. Truebit serves as a catalyst for combining the power of unstoppable, autonomous systems, like Bitcoin and Ethereum, with machine learning.

plasma icon

Plasma

Enforceable in-game physics

data marketplace icon

Data marketplace

data marketplace icon

Plasma scales transaction throughput through a hierarchy of blockchains in which parent “chains” have greater authority than their children. When a provable malfunction, or “fraud proof,” occurs in a child chain, a witness of that error allows its parent to reconcile the error. Verification of a fraud proof may require Truebit.

The Netflix Prize, and more recently Numerai, have illustrated the quantitative value of predictive machine learning models. Blockchains offer a trustless means to remunerate models which successfully predict streaming data statistics. When combined with a scheme like Open Mined, Truebit’s compute power permits verification of such statistics.

Online games require communications between remote parties in order to enforce rules. Rather than relying on network peers or a centralized server for this purpose, a system could instead use a blockchain to trustlessly make deviation from the rules expensive. Operations which require significant computational resources may appeal to Truebit.

Ecosystem

 

 

#ARTPROJECT

 

Truebit is creating a public art installation connected to the blockchain. This public structure will be a physical manifestation of the work Truebit can do off-chain. The #ArtProject Initiative fosters creative interactions and collaborations with innovators from different parts of the world.

 

 

 

 

INTERACTIVE ICO

 

While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, if each token bid specifies bounds on acceptable valuations, then all buyers can successfully participate via an interactive protocol.  Get in touch if you’d like to distribute tokens via an IICO!

 

 

 

 

Dogethereum

 

More than just an exchange, a two-way peg permits transfer of both assets and data across consensus-independent blockchains.  One can use Dogethereum to roll DOGE off of Dogecoin onto Ethereum and back via a trustless, retrofitting bridge, or, in a similar spirit, spill ERC-20 tokens off of Ethereum into the broader ecosystem.

 

 

 

 

Token Journal: a scalable store-of-reputation

 

The blockchain era has ushered in a rapidly increasing number of whitepapers.  We use blockchain and tokenization technologies to improve the scalability and effectiveness of the peer review process and incentivize basic research.

 

 

 

 

ETH PRIZE

 

ETHPrize is a community research and bounty project that identifies the most critical issues facing the ethereum ecosystem and organizes bounties to solve them. Navigate through these 100 interviews where the most influential players in the ethereum community share their, background, vision, and identified needs.

 

 

 

 

SMARTPOOL

 

SmartPool is a decentralized Ethereum mining pool protocol.  Its smart contract-based operator allows members to select transactions while yielding low-variance payouts at small gas cost.  Deployed pools have managed a peak hashrate of 30 GHs.

 

 

 

 

MERRY MERKLE

 

The Merry Merkle tree is a decentralized giving project enabled by the Ethereum blockchain and led by Truebit. Merry Merkle raised over $200,000 CAD during the 2018 holiday season in support of programs at Covenant House Toronto. Donations sent through the platform lit up Christmas tree lights at the house.

 

 

 

 

STEAK NETWORK

 

A decentralized social network of Steak enthusiasts. The core feature of the Steak Network is the Steakchain, a set of validated, user-submitted Proofs of Steak. The network defends itself against malicious attacks using Proof of Steak, a protocol capable of securing a blockchain given proofs that cannot be computed cryptographically, backed by Truebit and Proof of Stake.

 

Research

 

 

VERIFIER’S DILEMMA

 

Most blockchains use contract scripts to support applications beyond simple cash transactions. We analyze the extent to which these systems can correctly enforce scripts. Practical attacks may lead to an ill-fated choice, which we call the verifier's dilemma. We introduce an outsourced computation protocol securely in Ethereum, which offers proper incentives for achieving correct computational results.

 

 

 

 

On Decentralized Oracles for Data Availability

 

Nakamoto consensus, the protocol underlying Bitcoin, has the potential to secure a new class of systems which agree on non-mathematical truths. As an example of this capability, we propose a design for a trustless, data availability oracle. This exposition reduces the problem of determining whether or not a registered datum is publicly available to the problem of constructing a network in which either almost all nodes can download a given datum, or almost none of them can.

 

 

 

38.2% ATTACK

 

We study the security of Nakamoto consensus with respect to rational miners and show how a minority of the computation power can incentivize the rest of the network to accept a blockchain of the minority's choice.  By deviating from the mining protocol, a mining pool which controls at least 38.2% of the network’s total computational power can, with modest financial capacity, gain mining advantage over honest mining.

 

 

 

Smart Contracts Make Bitcoin Mining Pools Vulnerable

 

Despite their incentive structure flaws, mining pools account for more than 95% of Bitcoin's computation power. This paper introduces an attack against mining pools in which a malicious party pays pool members to withhold their solutions from their pool operator. We show that an adversary with a tiny amount of computing power and capital can execute this attack.

 

 

Jason Teutsch is a mathematician and computer scientist whose research background includes distributed systems security, game theory, and algorithmic randomness. He has held postdoctoral positions at National University of Singapore, Penn State, and Universität Heidelberg, research positions at think tanks RAND and IDA, and multiple Fulbright fellowships.

 

Jason Teutsch

FOUNDER

Christian Reitwiessner plays an active and pivotal role in the development and maintenance of Ethereum. In addition to researching future directions for the Ethereum community, he led the development of Solidity, the language of Ethereum smart contracts, as well as cpp-ethereum, a client application required to run the network.

 

Christian Reitwiessner

WHITEPAPER CO-AUTHOR

Sami Mäkelä's research and development focuses on smart contracts, formal verification, and software metrics. Since completing his PhD in spring 2016, Sami has been working on formal verification of Ethereum Virtual Machine programs. As a student, he participated on a team which performed a security audit on a Finnish e-Voting pilot.

 

Sami Mäkelä

SENIOR CORE DEVELOPER

Harley Swick is an avid programming enthusiast. Lives by the code, dies by the code. Previous background in applied machine learning and data science primarily on natural language projects. Only recently got into the blockchain space and has something to prove. Also loves Doge.

 

Harley Swick

CORE DEVELOPER

Jessica is a visual artist working on the intersection between art, science, and technology. Her research around the concept of space aims to reflect upon the rapidly narrowing gap between the physical and digital spaces. Since joining Truebit, Jessica has actively contributed to the art and blockchain movement.

 

 

Jessica Angel

OPERATIONS & CREATIVE LEAD

Surya Bakshi is a Ph.D student at the University of Illinois doing research in security and scalability of cryptocurrencies with Andrew Miller.  His current work explores the economics and incentives surrounding cryptocurrencies.

 

Surya Bakshi

Researcher

Ryan has been an active angel investor in the blockchain ecosystem since 2012, helps projects structure their token offerings, and ran a Bitcoin mining operation throughout 2013. Previously he was CEO of a Brazilian renewables firm and managed their 958MW portfolio.  He was a Principal and Venture Partner at Polychain Capital.

 

Ryan Zurrer

ADVISOR

Trent founded and works on Ocean Protocol, a decentralized substrate for AI data & services.   His research has helped drive Moore's Law, reconcile human and machine creativity, and ensure humanity's role in an increasingly autonomous world. Trent advises Estonia's E-residency program.

 

Trent McConaghy

ADVISOR

Ben is a digital product leader and entrepreneur who co-founded a company, Incentive Targeting, and sold it to Google. He was most recently the Chief Product Officer and Head of the Innovation Lab at Catalina Marketing.

 

Ben Sprecher

ADVISOR

the_Team

                        

 

© 2018 Truebit. All rights reserved.

website by:

[ white paper ]    [ download deck ]    [ contact us ]

out of gas icon
zero verification proof icon
artDao icon
livepeer icon
high transaction icon
data marketplace icon
truebit logo menu
truebit logo menu
out of gas icon
zero verification proof icon
high transaction icon
livepeer icon
artDao icon
plasma icon
data marketplace icon
data marketplace icon

data marketplace icon
data marketplace icon
truebit logo menu
Scalable,
Trustless
Computation

Truebit is an open source community committed to appreciation, understanding, and implementation of cryptoeconomic protocols and scalable, blockchain infrastructure.

                        

the_Protocol

While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains. Truebit counteracts this shortcoming via a trustless, retrofitting oracle which correctly performs computational tasks. Any smart contract can issue a computation task to this oracle in the form of WebAssembly bytecode, while anonymous “miners” receive rewards for correctly solving the task.

 

The oracle’s protocol guarantees correctness in two layers: a unanimous consensus layer where anyone can object to faulty solutions, and an on-chain mechanism which incentivizes participation and ensures fair remuneration. These components formally manifest themselves through a combination of novel, off-chain architecture and on-chain smart contracts.

 

Rather than relying on external, cryptographic proofs of correctness, Truebit leverages game theoretic principles to effectively increase the on-chain computation power of existing networks.

White Paper

the_Truebit_Virtual_Machine

Applications

out of gas icon

Out of gas

Smart contracts consume network computation and storage resources as they update the system’s global state. Some operations may demand more resources, or gas, than the blockchain network’s modest, per-block limit permits. Truebit offers secure computation for smart contracts beyond this native capacity.

Zero-knowledge verification

zero verification proof icon

A Zero-knowledge proof provides a witness of some valid statement without revealing information beyond the validity itself. Bulletproofs, which require no trusted setup and offer efficient proof construction and verification, can be combined with Truebit to achieve zero knowledge proofs in Ethereum.

Checking proof-of-work

Verification of some underlying consensus, such as Ethereum's Ethhash or Litecoin's Scrypt, requires memory resources exceeding the practical limits of smart contracts.  By moving such computation off-chain, Truebit enables dependent use cases such as Dogethereum and SmartPool.

High transaction throughput

high transaction icon

Miners in Nakamoto consensus perform two related functions. They select transactions to include in blocks, and they verify block contents. One can imagine a blockchain consensus protocol which decouples these two activities so that miners need only select blocks, and blocks clear once Truebit verifies them.

livepeer icon

Livepeer

Livepeer’s decentralized, live, streaming video platform permits Transcoders to earn rewards by processing content into various codecs and formats. Truebit verifies outputs of transcoding tasks, thereby guaranteeing content quality as well as fair remuneration for Transcoders. Users can share video without relying on a centralized resource or authority.

ArtDAO

artDao icon

A machine entity with blockchain-based financial resources and access to computational power could conceivably sustain itself by producing art, selling it, and using sale revenue to refine its own program code. Truebit serves as a catalyst for combining the power of unstoppable, autonomous systems, like Bitcoin and Ethereum, with machine learning.

Plasma

plasma icon

Plasma scales transaction throughput through a hierarchy of blockchains in which parent “chains” have greater authority than their children. When a provable malfunction, or “fraud proof,” occurs in a child chain, a witness of that error allows its parent to reconcile the error. Verification of a fraud proof may require Truebit.

Data marketplace

data marketplace icon

The Netflix Prize, and more recently Numerai, have illustrated the quantitative value of predictive machine learning models. Blockchains offer a trustless means to remunerate models which successfully predict streaming data statistics. When combined with a scheme like Open Mined, Truebit’s compute power permits verification of such statistics.

Enforceable in-game physics

data marketplace icon

Online games require communications between remote parties in order to enforce rules. Rather than relying on network peers or a centralized server for this purpose, a system could instead use a blockchain to trustlessly make deviation from the rules expensive. Operations which require significant computational resources may appeal to Truebit.

Ecosystem

 

 

#ARTPROJECT

 

Truebit is creating a public art installation connected to the blockchain. This public structure will be a physical manifestation of the work Truebit can do off-chain. The #ArtProject Initiative fosters creative interactions and collaborations with innovators from different parts of the world.

 

 

 

 

Dogethereum

 

More than just an exchange, a two-way peg permits transfer of both assets and data across consensus-independent blockchains.  One can use Dogethereum to roll DOGE off of Dogecoin onto Ethereum and back via a trustless, retrofitting bridge, or, in a similar spirit, spill ERC-20 tokens off of Ethereum into the broader ecosystem.

 

 

 

 

INTERACTIVE ICO

 

While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, if each token bid specifies bounds on acceptable valuations, then all buyers can successfully participate via an interactive protocol.  Get in touch if you’d like to distribute tokens via an IICO!

 

 

 

 

Token Journal: a scalable store-of-reputation

 

The blockchain era has ushered in a rapidly increasing number of whitepapers.  We use blockchain and tokenization technologies to improve the scalability and effectiveness of the peer review process and incentivize basic research.

 

 

 

 

ETH PRIZE

 

ETHPrize is a community research and bounty project that identifies the most critical issues facing the ethereum ecosystem and organizes bounties to solve them. Navigate through these 100 interviews where the most influential players in the ethereum community share their, background, vision, and identified needs.

 

 

 

SMARTPOOL

 

SmartPool is a decentralized Ethereum mining pool protocol.  Its smart contract-based operator allows members to select transactions while yielding low-variance payouts at small gas cost.  Deployed pools have managed a peak hashrate of 30 GHs.

 

 

 

STEAK NETWORK

 

A decentralized social network of Steak enthusiasts. The core feature of the Steak Network is the Steakchain, a set of validated, user-submitted Proofs of Steak. The network defends itself against malicious attacks using Proof of Steak, a protocol capable of securing a blockchain given proofs that cannot be computed cryptographically, backed by Truebit and Proof of Stake.

 

 

 

MERRY MERKLE

 

The Merry Merkle tree is a decentralized giving project enabled by the Ethereum blockchain and led by Truebit. Merry Merkle raised over $200,000 CAD during the 2018 holiday season in support of programs at Covenant House Toronto. Donations sent through the platform lit up Christmas tree lights at the house.

 

 

Research

 

 

VERIFIER’S DILEMMA

 

Most blockchains use contract scripts to support applications beyond simple cash transactions. We analyze the extent to which these systems can correctly enforce scripts. Practical attacks may lead to an ill-fated choice, which we call the verifier's dilemma. We introduce an outsourced computation protocol securely in Ethereum, which offers proper incentives for achieving correct computational results.

 

 

 

 

38.2% ATTACK

 

We study the security of Nakamoto consensus with respect to rational miners and show how a minority of the computation power can incentivize the rest of the network to accept a blockchain of the minority's choice.  By deviating from the mining protocol, a mining pool which controls at least 38.2% of the network’s total computational power can, with modest financial capacity, gain mining advantage over honest mining.

 

 

 

On Decentralized Oracles for Data Availability

 

Nakamoto consensus, the protocol underlying Bitcoin, has the potential to secure a new class of systems which agree on non-mathematical truths. As an example of this capability, we propose a design for a trustless, data availability oracle. This exposition reduces the problem of determining whether or not a registered datum is publicly available to the problem of constructing a network in which either almost all nodes can download a given datum, or almost none of them can.

 

 

 

Smart Contracts Make Bitcoin Mining Pools Vulnerable

 

Despite their incentive structure flaws, mining pools account for more than 95% of Bitcoin's computation power. This paper introduces an attack against mining pools in which a malicious party pays pool members to withhold their solutions from their pool operator. We show that an adversary with a tiny amount of computing power and capital can execute this attack.

 

 

Jason Teutsch is a mathematician and computer scientist whose research background includes distributed systems security, game theory, and algorithmic randomness. He has held postdoctoral positions at National University of Singapore, Penn State, and Universität Heidelberg, research positions at think tanks RAND and IDA, and multiple Fulbright fellowships.

 

Jason Teutsch

FOUNDER

Christian Reitwiessner plays an active and pivotal role in the development and maintenance of Ethereum. In addition to researching future directions for the Ethereum community, he led the development of Solidity, the language of Ethereum smart contracts, as well as cpp-ethereum, a client application required to run the network.

 

Christian Reitwiessner

WHITEPAPER CO-AUTHOR

Sami Mäkelä's research and development focuses on smart contracts, formal verification, and software metrics. Since completing his PhD in spring 2016, Sami has been working on formal verification of Ethereum Virtual Machine programs. As a student, he participated on a team which performed a security audit on a Finnish e-Voting pilot.

 

Sami Mäkelä

SENIOR CORE DEVELOPER

Harley Swick is an avid programming enthusiast. Lives by the code, dies by the code. Previous background in applied machine learning and data science primarily on natural language projects. Only recently got into the blockchain space and has something to prove. Also loves Doge.

 

Harley Swick

CORE DEVELOPER

Jessica is a visual artist working on the intersection between art, science, and technology. Her research around the concept of space aims to reflect upon the rapidly narrowing gap between the physical and digital spaces. Since joining Truebit, Jessica has actively contributed to the art and blockchain movement.

 

 

Jessica Angel

OPERATIONS & CREATIVE

Surya Bakshi is a Ph.D student at the University of Illinois doing research in security and scalability of cryptocurrencies with Andrew Miller.  His current work explores the economics and incentives surrounding cryptocurrencies.

 

Surya Bakshi

Researcher

Trent founded and works on Ocean Protocol, a decentralized substrate for AI data & services.   His research has helped drive Moore's Law, reconcile human and machine creativity, and ensure humanity's role in an increasingly autonomous world. Trent advises Estonia's E-residency program.

 

Trent McConaghy

ADVISOR

Ryan has been an active angel investor in the blockchain ecosystem since 2012, helps projects structure their token offerings, and ran a Bitcoin mining operation throughout 2013. Previously he was CEO of a Brazilian renewables firm and managed their 958MW portfolio.  He was a Principal and Venture Partner at Polychain Capital.

 

Ryan Zurrer

ADVISOR

Ben is a digital product leader and entrepreneur who co-founded a company, Incentive Targeting, and sold it to Google. He was most recently the Chief Product Officer and Head of the Innovation Lab at Catalina Marketing.

 

Ben Sprecher

ADVISOR

the_Team

                        

 

© 2018 Truebit. All rights reserved.

website by:

[ white paper ]    [ download deck ]    [ contact us ]

zero verification proof icon
data marketplace icon