Truebit Protocol (TRU) price has declined today.
The price of Truebit Protocol (TRU) is $0.083600070336 today with a 24-hour trading volume of $206,076.96. This represents a -0.20% price decline in the last 24 hours and a -2.00% price decline in the past 7 days. If you’re looking for the market cap of Truebit Protocol, data is not available today as the circulating supply of TRU tokens is not reported.
What Is Truebit (TRU)?
Founded in 2017, the Truebit protocol brings revolutionary off-chain execution power to the blockchain. Rather than relying on external, cryptographic proofs of correctness, Truebit leverages game theoretic principles to effectively increase the on-chain computation power of existing networks.
Through a novel incentive structure and architecture, the Truebit protocol allows trustless, secure, scalable consensus on large computations orders of magnitude beyond what’s possible on Ethereum today and in easy to use programming languages. TrueBit is more than a scalability solution for Ethereum. It’s a unanimous form of consensus that can trustlessly grab data across external sources, including other blockchains and uses a retrofitting oracle to connect to the outside world.
As one of the critical building blocks for the future of decentralized computing, Truebit's open source community and vision enable a seamless computational scalability solution on the blockchain, making machine learning and AI available to everyone.
While smart contracts can perform small computations correctly, large computation tasks pose security risks for blockchains due to the Verifier's Dilemma. Truebit counteracts this shortcoming via a trustless, retrofitting oracle which achieves correct computational results. Any smart contract can issue a computation task to this oracle in the form of WebAssembly bytecode, while anonymous “miners” receive rewards for correctly solving the task.
The oracle’s protocol guarantees correctness in two layers: a unanimous consensus layer where anyone can object to faulty solutions, and an on-chain mechanism which incentivizes participation and ensures fair remuneration. These components formally manifest themselves through a combination of novel, off-chain architecture and on-chain smart contracts.
Who are the founders of Truebit (TRU)?
Truebit was founded by Jason Teutsch (Truebit Establishment), with significant contributions from Christian Reitweissner (Ethereum Foundation). Jason has a PhD in Mathematics and was a Fulbright Fellow to Israel and Hungary. Christian has a PhD in Computational Complexity and is the creator of the Ethereum smart contract language Solidity, which powers the Ethereum virtual machine behind every smart contract and DApp (decentralized application) running on the Ethereum network.
What makes Truebit (TRU) unique?
Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone. Truebit bypasses this bottleneck and brings scalable computation to Ethereum and all blockchains with a financial incentive layer atop a dispute resolution layer where the latter takes form of a versatile “verification game.” In addition to secure outsourced computation, immediate applications include decentralized mining pools whose operator is an Ethereum smart contract, a cryptocurrency with scalable transaction throughput, and a trustless means for transferring currency between disjoint cryptocurrency systems.
What kind of token is Truebit (TRU)?
Truebit is a net inflationary token, which is similar to Ethereum. TRU tokens are created and destroyed over time according to cumulative demand. Each Truebit task burns TRU tokens. Users can purchase or retire TRU tokens in exchange for ETH. Each purchase transaction deposits some ETH into a reserve escrow (the rest goes to the Company), and some ETH is withdrawn from the reserve through each retire transaction.
Where can you buy Truebit Protocol?
TRU tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade Truebit Protocol is MEXC, where the most active trading pair TRU/USDT has a trading volume of $23,180.78 in the last 24 hours. Other popular options include BitMart and Uniswap V3 (Ethereum).
What is the daily trading volume of Truebit Protocol (TRU)?
The trading volume of Truebit Protocol (TRU) is $206,215.83 in the last 24 hours, representing a 91.60% increase from one day ago and signalling a recent rise in market activity.
What is the all-time high for Truebit Protocol (TRU)?
The highest price paid for Truebit Protocol (TRU) is $1.31, which was recorded on May 02, 2021 (over 2 years). Comparatively, the current price is -93.60% lower than the all-time high price.
What is the all-time low for Truebit Protocol (TRU)?
The lowest price paid for Truebit Protocol (TRU) is $0.072505921616, which was recorded on Jan 07, 2023 (9 months). Comparatively, the current price is 15.30% higher than the all-time low price.
What is the fully diluted valuation of Truebit Protocol (TRU)?
The fully diluted valuation (FDV) of Truebit Protocol (TRU) is $21,495,796. This is a statistical representation of the maximum market cap, assuming the maximum number of 260 Million TRU tokens are in circulation today. Depending on how the emission schedule of TRU tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Truebit Protocol compare against its peers?
With a price decline of -2.00% in the last 7 days, Truebit Protocol (TRU) is underperforming the global cryptocurrency market which is down -1.10%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.
What is the market sentiment of Truebit Protocol today?
The community is bullish as more than 100% of users are feeling good about Truebit Protocol (TRU) today.
How to add Truebit Protocol (TRU) to MetaMask?
Adding Truebit Protocol (TRU) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import TRU as a token. You can copy TRU’s contract address (0xf65b5c5104c4fafd4b709d9d60a185eae063276c) and import it manually, or if you've installed MetaMask's chrome extension, add TRU to MetaMask with one click on CoinGecko.
Add TRU to MetaMask.