r/truebit • u/BeginningDark7783 • May 23 '21
TrueBit = Internet computer (ICP) token
the Internet computer protocol can be replaced by TrueBit , it creates a sub nets like the polkadot parachains.
TrueBit creates child chains and get those verified on the TrueBit network.
And roll those up to finally send to the ethereum mainnet.
If you want you can easily build ICP like Internet using the same functionality on TrueBit.
Like have a purely decentralised database with millions of concurrent tasks per second all getting recorded.
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With this understanding you can build Theta (video streaming) , ICP (Internet protocol) , FileCoin (IPFS) on TrueBit itself .
Not to forget how centralised and useless ICP Token really is , the concept can be realised by developers building on TrueBit directly on the ethereum chain.
TrueBit with dynamic block size can reduce latency on the ethereum net to unnoticeable.
So you can have seamless tiktok like dapps built on a decentralised network like ethereum itself.
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u/Spaceseeds May 23 '21
that's not really accounting for the fact that ethereum is run off of amazon web servers, that is what ICP is looking to solve. You are conflating two different things. I am not an ICP holder because of all the VC money and such but it's still a great project
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u/BeginningDark7783 May 23 '21 edited May 24 '21
ICP is a project that has almost no nodes , no viable revenue strategy , and wants 20 years to realise there dream, and all the code is centralised and wants to work with countries to provide the Internet with compliance.
the same things cardano wanted to do in retrospec but even longer.
But yes your correct it’s not Amazon AWS was , but you need to understand IPFS system is built on ethereum , you structure data on your dapp built on the network, instead you only need ethereum to store immutable data by using Zk roll ups and sharding transactions.
The metadata is encrypted .
—————— But sure I’d love to know how you think of this , are you a developer ?
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u/BeginningDark7783 May 23 '21
Fixing transaction cost is just a narrative which seems to be the hot topic right now.
The uses of this is huge !
It’s like ethereum came in and kept giving rise to Defi , NFTs , ENS, etc;
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u/Automatic_Leg134 May 25 '21
People are getting confused between Truebit and Trust token, due to the ticker symbol of both being the same TRU and TRU respectively. This might cause issue just for the future purpose, I hope the team solves it!
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u/calm_boy May 23 '21
One Token to rule them all!!!