[long-term] 780% profit expect TRUEBIT Price PredictionTRUEBIT Price Prediction
Welcome to this updated analysis on TRUEBIT
Let’s get right to it!
This information is to be used for educational purposes only
TRANSPARENCY Strategy
TRUUSDT.P trade ideas
Truebit Price PredictionTruebit Price Prediction
Welcome to this updated analysis on Truebit
Let’s get right to it!
This information is to be used for educational purposes only
TRANSPARENCY Strategy
My TOP10 project list - pick number 4/10TRUEBIT is my wildcard pick and a quite unknown project.
Here is what it says on the homepage: "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."
From what I understand, Ethereum needs this protocol to fonction correctly and to scale in the future.
Truebit’s whitepaper was released in November 2017 and was co-authored by Dr. Jason Teutsh and Christian Reitwiessner under the title ‘A scalable verification solution for blockchains’. Dr. Jason Teush (Truebit founder) is a former Ethereum Lead Developer while Christian Reitwiessner led the development of Ethereum’s native programming language, Solidity.
I hold this coin since May 2022 and I am down 50% on my entry price. I decided to hold this project when I saw it's strong resiliance since November 2022: Truebit did not make new lows since 18 months. I could see the relative strenght of this coin in the final phase of the bear market. I expect this coin to rebound strongly and I guess it coulb be a leader in the upcoming bull market.
TRUEBIT (Y24.P1.Video1).What is the macro pictureHi Traders,
I have done a number of videos on #Truebit #TRU #crypto and this one is looking for the macro target and why its justified. We use fibonacci, formations and wyckoff methodology to ascertain or justify our forecasts.
We have 2 models, we don't know which one is likely to play out,
1 model has not so grand targets and the other does. It really depends on what the crypto market does in the coming year.
Anyway, this video would be a great tool to look back at and take some lessons from it for future trading forecasts.
All the best,
S.SAri
TRUEBIT will be a game changerTrueBit aims to address the scalability challenges faced by blockchain networks like Ethereum, where the execution of smart contracts can be resource-intensive and time-consuming. The protocol introduces a layer 2 solution that offloads some of the computational work from the main blockchain while maintaining security.
Here are some key aspects of the TrueBit protocol:
Off-Chain Computation: TrueBit allows for off-chain computation, meaning that certain parts of the smart contract execution process can be carried out off the main blockchain. This is achieved through a mechanism that involves off-chain actors known as "solvers" and "verifiers."
Solvers and Verifiers: Solvers are responsible for performing the computational work required by a smart contract off-chain. Verifiers, on the other hand, check the validity of the solution provided by the solver. This division of labor helps distribute the workload and ensures that the results are accurate.
Incentive Mechanism: TrueBit employs an incentive mechanism to motivate solvers and verifiers to participate honestly in the off-chain computation process. Participants are rewarded with tokens for their contributions, and penalties are imposed for dishonest behavior. This incentivizes the network to maintain security and integrity.
Decentralization: TrueBit aims to maintain decentralization by allowing multiple independent actors to participate as solvers and verifiers. This helps prevent centralization of computational power, which is crucial for maintaining the security and censorship resistance of the blockchain network.
Regarding the specific token associated with TrueBit, it's important to note that TrueBit itself is not a standalone cryptocurrency or token. Instead, it is often associated with the Ethereum network, where its implementation involves the use of the native cryptocurrency, Ether (ETH), as incentives for participants.
Keep in mind that developments in the blockchain space are rapid, and it's advisable to check for the latest information from official sources, such as the TrueBit project's website or other reliable cryptocurrency news outlets, for the most up-to-date information on the protocol and any associated tokens.
