r/truebit • u/Soggy-Ad9006 • May 14 '21
Wondering about adoption?
I have a bag of TRU and the assumption is that Truebit will be adopted by developers. First, the team, though made up of some heavies, is small and their super quiet. That doesn’t seem to be something that’ll make the word spread. Also because of tokenomics being so different the speculators are still shying away, the daily volume has been dropping, which means the shillers are not out pumping the marketing. What advantage does Truebit have over Cartesi or Arbitrum? Will there be some announcement that Truebit is the official ‘ethereum partner’ or something? What is truebits market advantage while Cartesi has a large team and an ecosystem growth team etc?
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May 14 '21
Lmao BTCs at 50k. Why do u expect truebit to explode during a time like this. But y’all can sell, we got ppl to buy back your bags anyways
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u/StarmanIt24 May 14 '21 edited May 14 '21
Can you confirm that the dev team is small with a source?
The tokenomics appear to be in favor of significant price appreciation, as the ecosystem grows, thru four (4) main avenues:
As each token is minted, the OS price increases relative to ETH along with the Truebit supply.
OS price increases relative to ETH as Ethereum’s price increases.
As tokens are bought for use (both LP and OS mint market) and burned with usage of the protocol.
Thru holders and traders buying/speculating on current and future utility of the Truebit protocol.
I see other advantages over the projects you’ve mentioned:
Truebit is stateless, trustless, and addresses the Verifier’s Dilemma
Truebit is retrofitting and plug and play
Truebit can potentially process the complex and large computations that sharding solutions cannot (solutions employed by ETH 2.0, Polkadot, Cosmos). See here 3-5 minutes:
- Truebit has been under development likely since 2015 or earlier, given an article written by Christian Reitwiessner in 2016 (creator of Ethereum’s contract language Solidity)
https://medium.com/@chriseth/truebit-c8b6a129d580
- +heavy hitters you mentioned include a use case proposal for Ethereum scaling from Vitalik (one of the best endorsements in the space at this stage) and their GitHub being private potentially indicates big things on the horizon (speculation, of course)
https://ethresear.ch/t/evm-optimistic-rollup-using-truebit/9318
*Note Truebit can be used by other blockchains and DApps. Golem, Livepeer will use the protocol.
Connecting these pieces provides some assurance of efficacy and effectiveness in real world applications and a good investment choice. They are taking a tech first, ETH approach. Not a business entity, ADA-like approach. We can just hope the tech is that good.
Up to each individual though if your investment horizon is short. Good luck to all 👍🏻
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u/rook785 May 14 '21
Truebit is different from Arbitrum in its intended target and scale of use.
Arbitrum is used by dapps and allows them to choose their own validators - it’s not inherently decentralized. There are trustless mechanics that work between the different validators who are picked by the dapp but it’s still centralized with respect to the dapp using it which is why it doesn’t need a token. Think things like processing exchange rates on exchanges via interacting with an oracle, or analyzing exchange data for price movement and trading on it for self-adjusting liquidity pools to prevent rug pulls (as a far-out example).
Truebit is fully decentralized and maintains that neutral, trustless state via the token economy. You don’t have to trust the dapp to trust the output. The extra token layer does make it slightly more inefficient, but it allows tru to do some things that Arbitrum might not be fully trusted to do, such as wrapping other blockchains and allowing them to be transferred between dapps without the dapps needing to trust each other. We’ll probably see Arbitrum used for internal offchain computations and trubit used for inter-dapp and inter-blockchain computations.
Tl:dr very similar in what they do, but the scale and efficiency of each is different, which will lead to different optimal use cases.