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What is Truebit?

Truebit acts as an enhancement to blockchain technology, enabling smart contracts to carry out complex computations using traditional programming languages while reducing gas fees. While smart contracts are adept at managing small computations with precision, they encounter considerable security risks when dealing with larger tasks. To tackle this challenge, Truebit implements a trustless oracle that upgrades existing frameworks, ensuring that complex operations are performed accurately. Smart contracts can submit computation requests to this oracle as WebAssembly bytecode, and in exchange, anonymous miners receive rewards for supplying correct solutions. The oracle's protocol guarantees accuracy through two distinct layers: a unanimous consensus layer that allows anyone to dispute incorrect results and an on-chain mechanism that encourages participation and ensures fair compensation for contributors. This implementation is achieved through a creative combination of off-chain infrastructure and on-chain smart contracts, thereby boosting the overall efficiency and security of blockchain systems. By improving computational reliability, this dual strategy also cultivates a stronger ecosystem for decentralized applications, paving the way for more advanced use cases in the future.

What is Bitfury?

Exonum Enterprise is recognized as Bitfury’s premier blockchain-as-a-service solution, designed to help both public sector entities and private enterprises integrate blockchain technology smoothly into their operations. The platform includes Crystal, a web-based tool that supports financial institutions and law enforcement in performing comprehensive investigations of blockchain transactions. By utilizing the Exonum blockchain, organizations can improve their operational efficiency while ensuring enhanced security and trust across various fields, including government, healthcare, education, real estate, insurance, and retail. Many governmental organizations grapple with issues related to the secure storage, rapid retrieval, and safe access to important documents, which can obstruct their efficiency and raise operational costs. Transitioning to a blockchain-based framework can significantly alter this situation by serving as a verification clearinghouse, enabling both public and private validation of document authenticity. This transition not only simplifies processes but also fosters greater transparency, which can lead to a notable increase in public confidence regarding government activities. Ultimately, the adoption of blockchain solutions can help institutions mitigate risks associated with data management and enhance their service delivery.

Media

Media

Integrations Supported

Ethereum

Integrations Supported

Ethereum

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Truebit

Date Founded

2017

Company Website

truebit.io

Company Facts

Organization Name

Bitfury

Date Founded

2011

Company Location

Netherlands

Company Website

bitfury.com/software

Categories and Features

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