A New Protocol Spurs Ethereum Blockchain

A New Protocol Spurs Ethereum Blockchain

Many attempts have been carried out to remove restrictions that Ethereum inherently possess as it scales in the public blockchain sector. Ethereum, the second largest blockchain in terms market capitalization hopefully released a new protocol this December that seeks to remove the computations gas limits.

Just like Raiden, state channels, and sharding mechanisms, TrueBit is amongst the scaling solutions that attached to the Ethereum. Instead of only focusing on just the transaction speed like other mechanisms, TrueBit distinguishes itself from the rest through mainly focusing on the network’s computation power.

Get the Jackpot

TrueBit co-founder and also a mathematician, Jason Teutsch, hope it will move the computation’s verification and solving off-chain to an external rewarding marketplace.

Forced errors jackpot” is an incentive scheme that TrueBit banks on for verifiers to continually submit incorrect information and validators to check whether computations are correct actively. A jackpot is a sizeable payout reward that a validator gets whenever forced errors are found.

However, the new protocol allows any participant to find any error and submit the right solution for the computation of the verification game for a consensus.

The challenge of security

In the road to obtain optimum efficiency, the new protocol will not solve everything. Some people might compromise on noticeable errors when the verification process seems too expensive or takes too long.

Since TrueBit has a verification game built on game theory, developers can decide to improve the digital security by running the new protocol parallel to the original one.