Bootstrapping a stable computation token
This addresses pricing stability for decentralized computation networks, though it appears incremental as a retrofitting enhancement to an existing blockchain system.
The paper tackles the challenge of stable task pricing in Truebit's blockchain computation system by proposing a token model that avoids external dependencies, achieving sustainable economics through a mintable token format that leverages existing tokens for liquidity.
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.