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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 Oracle Blockchain?

Leverage the Oracle Blockchain Platform Cloud Service to securely exchange trustworthy data among different stakeholders. This platform offers ready-made code for executing smart contracts while maintaining a tamper-proof blockchain, built upon the well-regarded open-source Hyperledger Fabric framework. You can seamlessly modify resources to meet changing demands, providing scalable computing power that can be increased or decreased as necessary. Customers are billed solely based on their actual usage, leading to cost efficiency. The platform supports collaboration from various participants through the easily configurable RAFT consensus mechanism. Moreover, its advanced access control capabilities allow for the management of permissions for each segment of large datasets stored in the cloud. This ensures that smart contract developers can efficiently oversee identities, groups, and resources. Setting up a permissioned blockchain is a straightforward process, requiring no coding expertise, and alleviates the burden of manually provisioning hardware, software, managing certificates, or configuring network components. Consequently, organizations can concentrate more on innovation while minimizing the complexities of infrastructure management. This service ultimately fosters a more collaborative and efficient environment for businesses seeking to harness the power of blockchain technology.

Media

Media

Integrations Supported

Ethereum
Oracle Cloud Infrastructure

Integrations Supported

Ethereum
Oracle Cloud Infrastructure

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

$0.215 per hour
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

Oracle

Date Founded

1977

Company Location

United States

Company Website

www.oracle.com/blockchain/

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