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HomeCOINSWhat Is BiggerMINDS (MIND)? Complete Guide Review About BiggerMINDS.

What Is BiggerMINDS (MIND)? Complete Guide Review About BiggerMINDS.

What Is BiggerMINDS (MIND)?

BiggerMINDS vision is to provide a One-Stop Shop on the blockchain under one platform and one token. BiggerMINDS ecosystem offers a variety of products to earn rewards. Users can earn via the refer a friend program, BRAIN creations, NFT staking, ecosystem transactions and many more coming. Bitcoin and Ethereum, whose miners arguably collectively comprise the most powerful computational resource in the history of mankind, offer no more power for processing and verifying transactions than a typical smart phone.

The system described herein bypasses this bottleneck and brings scale able computation to Ethereum. BiggerMINDS new system consists of a financial incentive layer atop a dispute resolution layer where the latter takes form of a versatile “verification game.”

BiggerMINDS Storage Key Points

Coin BasicInformation
Coin NameBiggerMINDS
Short NameMIND
Circulating Supply193,524.18 MIND
Total Supply308,777
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

How TrueBit works

BiggerMINDS primary purpose is to realize correct, trust less computations despite miners’ limited computation bandwidth. Intuitively, A company wish to reward participants who correctly perform computational tasks, but who decides whether these tasks were done correctly? In absence of a dispute, the party who performs a computational task on behalf of a contract simply receives a reward.

On the other hand, if a dispute does occur, they must rely on the only trusted resource, the limited network of miners, to resolve it. Dispute resolution occurs as a “verification game” subroutine in Bit, and they will discuss its details in Section 3.

Who initiates a dispute in the case of an incorrect computation, and how can BiggerMINDS ensure that such a dispute will actually occur? One option is to assume that each party with some stake in the contract brings their own trusted verified, and flags for a challenge if needed.

This trusted verified approach suffices for some applications, but in general parties may need to rely on the results of a previously executed contract ex post factor even if they themselves did not exist at the time of its creation. Like Ethereum smart contracts, TrueBit contracts must have universal validity.

System Properties

Any outsourced computation system should be fair in the sense that parties who perform computational tasks indeed receive compensation for their work and reliable in the sense that paid computations are performed correctly. In addition to these properties, BiggerMINDS also ensures accessibility through easy joining or exiting of the verification ecosystem.

Any anonymous party can play the role of Task Giver, Solver, or Verified, where a Verified is a party who checks solutions and becomes a Challenger whenever she reports an error. In particular, TrueBit does not trust or rely on the reputation of its participants. Everyone who puts a deposit into the system has a fair chance to be hired for a given computational task.

BiggerMINDS offers several novel advantages over traditional cloud computing and verifiable compute able models. Verifiable computing ensures a correct answer for an outsourced computation by forcing the cloud to provide a short proof which witnesses the correctness of its computation.

Incentive layer

BiggerMINDS now discuss the financial incentives which encourage anonymous parties to both contribute CPU cycles and perform requested computational tasks correctly. They use the dispute resolution layer from Section 3 as a subroutine and connect its role to the present construction. A Verified is a potential Challenger, that is, someone who checks submitted solutions and calls for a challenge (see Section 3) if and when she detects an error.

By assumption (ii) in Section 2.2, Versifier must receive adequate payment for verification tasks. As argued in the beginning of Section 2, however, Versifiers can only receive rewards when they actually find bugs. It follows that the reward for discovering errors must encompass amortized payment for all verification tasks checked, including those in which no bugs were found.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .