Bootstrapping a stable computation token
Cryptography and Security
2019-08-09 v1 Computer Science and Game Theory
Theoretical Economics
Abstract
We outline a token model for Truebit, a retrofitting, blockchain enhancement which enables secure, community-based computation. The model addresses the challenge of stable task pricing, as raised in the Truebit whitepaper, without appealing to external oracles, exchanges, or hierarchical nodes. The system's sustainable economics and fair market pricing derive from a mintable token format which leverages existing tokens for liquidity. Finally, we introduce a governance layer whose lifecycles culminates with permanent dissolution into utility tokens, thereby tending the network towards autonomous decentralization.
Cite
@article{arxiv.1908.02946,
title = {Bootstrapping a stable computation token},
author = {Jason Teutsch and Sami Mäkelä and Surya Bakshi},
journal= {arXiv preprint arXiv:1908.02946},
year = {2019}
}
Comments
2 figures