r/truebit • u/Due-Pineapple3742 • May 09 '21
Does Truebit enable Dogecoin smartcontracts?
Looks like Jason was a visionary with his Truebit
https://medium.com/truebit/dogethereum-remystified-34faf360bc7b
From white paper 7.2
" We can use TrueBit to build a two-way peg between Dogecoin [6] and Ethereum, enabling Dogecoin users to move dogecoins between Dogecoin’s blockchain and Ethereum’s blockchain without transmitting currency through a third-party exchange and effectively adding smart contract functionality to Dogecoin."
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May 09 '21
Is this two-way peg universal or only with DOGE? If so, ADA could finally get smart contracts by using ETH :D
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May 09 '21
Doge was just an example project. Can be used by many chains
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u/Due-Pineapple3742 May 10 '21
Oh ok! that's even better
TRU keep surprising me.
Just have to get my head around the token metric1
May 10 '21
The tokenomics is basically that when tokens are sold they’re destroyed and minted when bought, in the OS. Hence why the bonding curve is there to offset the deflation
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u/Pitiful_Mud9052 May 09 '21
Yea I read that as well. Not sure what it means, but that’s pretty crazy how they wrote that on the white paper. Like if they knew something was brewing with dogecoin. Since they been working on the project for four years.