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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 Huawei Blockchain Service?

Blockchain Service (BCS) provides a powerful and secure blockchain framework tailored for businesses and developers, enabling seamless application creation, deployment, and management while harnessing the efficiency and performance advantages of HUAWEI CLOUD. This platform leverages advanced Kubernetes technology, focusing on security and ease of configuration, allowing for quick deployment alongside automated operations and maintenance. By reducing the costs associated with development and deployment and offering a pay-per-use pricing model, it effectively minimizes operational expenses through consolidated management, featuring capabilities such as auto-scaling and on-demand upgrades or rollbacks. BCS accommodates various consensus algorithms that can handle over 10,000 transactions per second, promoting adaptable node management with options for dynamic participation and exit for different network roles. Furthermore, it guarantees thorough management and isolation of users, keys, and permissions, complemented by multi-layer encryption to enhance privacy and a solid cybersecurity framework. The use of decentralized, tamper-resistant shared ledgers ensures a high degree of transparency and fairness, positioning BCS as an outstanding option for contemporary blockchain requirements. As a result, BCS is not only a reliable infrastructure but also a forward-thinking solution for organizations aiming to innovate within the blockchain space while maintaining operational efficiency.

Media

Media

Integrations Supported

Ethereum
Huawei Cloud
VirtualBox

Integrations Supported

Ethereum
Huawei Cloud
VirtualBox

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided
Free Version
Free Trial Offered?

Pricing Information

Pricing not provided
Free Version
Free Trial Offered?

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

Huawei Cloud

Date Founded

1987

Company Location

China

Company Website

www.huaweicloud.com/intl/en-us/product/bcs.html

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