$TRU Truebit Protocol Coinbase Connections, New VC Money Pouring in,ETH 2.0, Update 2.0

hello and welcome to another video this is 
me her sprouts roll and today we're going   to talk about one of my favorite projects 
should be protocol so let's get started i just want to make sure that you understand 
that another things mentioned in this video   is or should be taken as a financial 
advice always do your own research   before investing in any other projects or using 
any protocols right and as always please make   sure you give this video a thumbs up as that helps 
out a lot and if you have any questions or if you   like to have any discussion please leave them in 
the comments and subscribe and hit the bell icon   so that you'll be notified for future uploads it's 
been a while since i've talked about truebit and   not much has happened lately but recently things 
have hitting up a bit so i thought i'll just   make a quick video on it but i just want you 
to understand that there is no official news   as the team is not involved or does not indulge 
in a constant marketing and reaching out to   its community and being active in a telegram 
group or being active in a discord group and   they don't even have any any social channels 
except twitter for that matter or medium   so this is all speculations this is all uh 
moon boy calls whatever you want to call it   and always like i said make your own decisions and 
make your own investment decisions as well okay   once we have that out of the way uh if you look 
at the chart just so you know i'm not a ta guy   i'm not an expert i just said i just drew 
some line to the chart uh as you see uh from   from around 9th june we dropped below 40 41 cents 
and we've been below that level for a while now   for a few months right which i'll break out here a 
bit but now on 22nd november we broke out of this   and we've got to around 63 cents and we've 
been holding we've tested this level again   and we're kind of holding there right so what 
happened why all of a sudden we've got this   uh we've got the spike and we've got this uh huge 
interest in twitter as well so i've seen a lot of   uh new people liking my old post about truebit 
and so that scene shows that people are starting   to notice this project again and that's why 
we've got this huge volume and we've got this   breakout here right now it's also consolated 
for a long time so a breakout was due but also   i think people are starting to see this project 
are starting to find or starting to know about   this project now as we come closer to eth 2.0 
as well so now what do i think that might have   happened all right first thing is if you know who 
suju is or zusu on twitter he's a huge investor in   avalanche at the moment but he was a big he was 
a very big investor and a advocate or like a   openly spoken person for ethereum in the past but 
recently on november 21st he came out and said yes   i've abandoned ethereum despite supporting in the 
past and there was whole fiasco on twitter where   people supporting ethereum went against 
and went and defended ethereum and how   ethereum is better than avalanche or solana and 
people who had enough of um ethereum's uh slow   development uh went ahead and supported suzu and 
all that stuff so it was a whole fiasco right   um i think that gave drewbit a bit of a bit of 
a spotlight that second thing if you know about   fredo ashram is co-founder of coinbase and he 
was a vc in a lot of other projects as well now   in 2017 as you can see as mentioned tribute looks 
like a natural solution for scaling computation on   ethereum despite the 96 throwback site so he was a 
initial investor there's a lot of other investors   as well that have not openly talked about true 
bit yet uh fred in 2017 talked about true bit   that it looks like a national scaling solution and 
truby does have huge backing from a lot of other   investors as well that is not official yet but we 
might see a news very soon in the future winners   right and if you go to his blog f e h r s a m x 
y z in june 27 2017 he wrote an article saying   scaling theorem to billions of users and as you 
can see as mentioned uh is compared basically   web 2.0 and work 3.0 right since you know the web 
3.0 is a narrative now amazon ec2 is compare that   that is compared to ethereum and trubit as you can 
see file storage amazon s3 uh storage a file con   and stuff like that and says in progress this 
article mind you this article hasn't been updated   since 2017 right so this is also this also shows 
how slow ethereum has been or the team has been   right now again i don't know what difficulties 
they might have faced while doing this but as you   can see the upgrade is true bit off change smart 
contract execution through a verification game   with dispute resolution and that is off saying and 
you can see the scaling increment is 10 200 x plus   so we'll go into um the uh this k the scalability 
or how fast the trim will be in in just a second   but i just wanted to mention that truebit he 
mentions that it will be 10 200 times faster   as compared to what it was in 2017 and he said 
optimistic launch day of 2018 uh which that didn't   really happen uh tribute tribute together was 
launched in may this year we'll end of april may   this year and he mentions plasma sharding so this 
is also this these are uh still in the pipeline   right so that's that's one thing now and recently 
in november 15 a 2.5 billion vc fund from coinbase   co-founder is the biggest in crypto right so fred 
ersham and matt wong have started a vc fund that   raised 2.5 billion for paradigm one so now brett's 
openly spoken about true bit uh even vitalik has   openly spoken about truebit and how it can be 
used and truebit is one of its kind computation   solutions for blockchain not just ethereum so 
what people don't understand is truebit is not   true but was built keeping ethereum in mind but 
through it scales any blockchain so truebit can   make any blockchain faster so for example 
imagine if solana goes down if solano needs   to have a high computational power then they'll 
have to use truebit at the moment every layer uh   every other layer one's uh selling point is that 
they can do more transactions and they can do   uh more transaction at a lower fee that's most of 
the layer ones narrative at the moment but when   ethe 2.0 comes out eventually it will when no one 
really knows they've got it planned for 2022 which   will look into the plans later on in this video 
but once that happens that will that will go out   of the window so it only makes sense that for 
fred ocean's new vc fund to hold true bit right   because truebit didn't have any uh ico tribute 
didn't have any seed sell and stuff like that so   and also the team is not making any money directly 
from token sales uh the team only makes money if   true bit is implemented and true bit tokens are 
burned and stuff like that so if you would like to   know more about the token mix of trubit and would 
like to understand how and what are the potential   of trubit is i'll make sure that i'll leave the 
link to the video which explains everything in   extreme detail and also make sure that you check 
out the description of that video from time to   time as it's updated as more information come out 
since we don't have any uh official uh portal like   a social media portal for example your telegram or 
discord where you discuss with the team and team   brings announcements on what's happening behind 
the scenes so that was not the whole idea they   wanted to be still they didn't want they wanted 
to stay anonymous and they wanted to solve this   issue and just move on so so the vc funding is 
there that's another possibility that they might   have invested in truebit which would actually 
make sense right now what are my thoughts on this   so there was a recent news with microsoft as well 
which is not official so i'll probably cover that   in a future video but i'm not really convinced on 
that but who knows right so my personal thought   is i'm still holding truebit until we see each 2.0 
launched at least right because we probably won't   get any traction before that if we do fantastic 
if any anyone else uses true but before e3.0   comes out and they they they implement trooper in 
their ecosystem or on the blockchain fantastic but   we should see how things take off for truebit once 
each 2.0 is fully launched including sharding if   you don't know about each 2.0 and what stage we're 
in so we are at the moment we are moving towards   the second stage of the upgrade so the beacon 
chain was done so as you know that ethereum   is a proof-of-work blockchain right so the when 
it uh when eth was upgraded to the beacon chain   then uh the staking was implemented and prove and 
ethereum went from proof of work to proof of stake   but at the moment they both work simultaneously so 
at the moment even though staking is running it's   running in parallel with proof of work so at the 
moment still ethereum is secured by proof of work   but after this merge it will switch to proof of 
uh stake completely right so that's another step   so and the final step is the sharding so this is 
where these actually scales and goes to another   level right this is certain multiphase upgrade 
to improve ethereum's scalability and capacity   uh shortchange for the networks load across 
64 new chains they've been easier to run a   node by keeping hardware becomes low so if you 
don't want to get into the technicals and if   you're not a technical person so this is where 
i see true bit uh to shine uh if you remember   what happened to matic back in the days where no 
one was talking about matic no one was actually   paying attention to medic but all of a sudden 
eth got a bit slower and then people started to   uh see matic i i got into matic really really 
early so then when no one was talking about it and   this is what this the intrubit gives me the exact 
same feeling when i think about matic because   what happens is if you go to twitter if you go 
follow big accounts what happens is they will   show you the projects after they've accumulated 
after everyone is on board that's that's when   people start talking about a project when there's 
there's only a few people on twitter or there's   hardly any few people that will get you on really 
good projects early on everyone fills their bags   everyone shills you after projects take off 
it's very good it's very important to follow   the right people on twitter as well so anyways 
coming back to the video so i expect uh truebit   to show its true colors or show uh shine when 
we have shark chains implemented which probably   will happen somewhere around uh mid 2022 but no 
one knows if it will happen before or after that   because if you've been following eth it has been 
planned for a long time if you just look at uh   fred's blog as well this was planned sharding 
was planned for 2019 and now it's 2022 so it's   it's it has taken its time but the problem is 
so there is something called blockchain trilemma   which is you cannot achieve everything on layer 
one for example you can have a fast secure and   scalable layer one so that's the blockchain 
trailer there's a lot of details involved in   as well so you need side chains you need layer 
two scaling solutions and you need everything   for a blockchain to be fast secure and scalable 
right this is where ease 2.0 becomes a dominating   layer one again because it is it will be fast 
it'll be secure and you'll be scalable beyond   limit when truebit is implemented we have a lot 
of other rollups like zk sync we have optimism we   have our bedroom we'll probably have more roll-ups 
with no one knows so we'll have all of those will   have truebit and we'll have a very fast scalable 
and secure blockchain um once each 2.0 is launched   so now there's also a risk factor involved as well 
because eth is going from from proof of work to   proof of stake so that's a huge change that hasn't 
been done before uh things might go south a merge   or the upgrade from beacon chain to proof of stake 
there might be some issues you never know right   until now east hasn't uh it hasn't faced any 
network issue as compared to solana or avalanche   except for your gas fees which cost you an arm and 
a leg to do some transactions but except that once   e3.0 comes along i don't think any other layer 
ones will come close uh we'll probably see other   networks uh other layer ones such as cadena we 
probably see hathor we probably see a lot of we   probably even see solana avalanche at the same at 
the same stage as east is in the future so they   all can coexist so there's no point in talking 
bad about the other layer one saying that's better   we might have there's so many operating 
systems windows mac linux they have their   own market right so this these these layer ones 
can also coexist if they prove themselves right   at the moment eth has proven itself when it comes 
to security and at the number of developers number   of taps number of total locked value as well 
the only thing is the lacking is it's not fast   and it's not scalable yet which is being solved 
by is 2.0 by implementing tribute protocol so   and if you've been gone if you have been to 
tributes github and if you see there's no activity   i have seen that as well but what i want to say is 
uh since they don't want anything to be public the   team doesn't want anything to be public as you can 
see you can't even see the people that are working   in this group unless you are part of the team and 
you don't see anything here so there's few updates   simple task 19 days ago there's a tribute eat 
server which is i i believe it it acts as a amazon   s3 server if i'm wrong and see i what i think is 
they make all the changes they do all the upgrades   all the work and then if there is anything 
that needs to be put out on github they will   i think i'm not a developer i'm not i cannot 
explain exact steps behind running a github but   i believe this is just a place to share codes and 
show everyone what's happening right apologies if   the video was very long there's probably other 
things that i would like to talk about but i'll   probably keep that for another video please 
leave your feedback in the comments below   um again any other project that you would 
like me to cover or anything else that's   coming up that's interesting uh that is worth 
looking into please leave them in the comments   as always like the video any suggestions uh reach 
out to me on twitter at project hq and the twitter   handle will be on the screen and make sure you 
like the video and you have a nice day thank you

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