Grasp the wealth code #TBC

1. Project Introduction TuringBitChain (hereinafter referred to as TBC) is a public chain based on the UTXO model of the FORK original Bitcoin protocol. Starting from the lowest TXID generation method, it further improves the parallel performance and innovatively proposes the UTXO model. Implementing the Layer-1 smart contract solution can achieve unlimited expansion on the basis of ensuring sufficient decentralization. What is the UTXO model? The so-called UTXO model, simply put, is a special account accounting model. Its Chinese meaning is called "Unspent Transaction Output". One big difference between it and the traditional account balance model of ETH and banks is that this model only records the transaction itself, not the results of the transaction. The UTXO model has the following two advantages compared to account balance models such as ETH: 1: If the user enables a new address for transfers and transactions, the relationship between the new address and the original address is difficult to track, which can better ensure User privacy; 2: The UTXO model can theoretically use different UTXOs to issue multiple transactions in parallel and broadcast them to the network. Bitcoin was designed for complete transparency, fairness, and auditability. UTXO can help Bitcoin achieve these goals. Therefore, BTC adopts the UTXO model as its underlying storage data structure. BTC can also solve the double-spending problem without relying on a trusted third party. 2. Project Vision The biggest problem that blockchain technology has always faced is the problem of expansion. Different public chains have been trying to use different technical routes to solve this problem, such as Ethereum’s sharding solution; and because the UTXO model has high concurrency Features, many public chains choose the UTXO route for expansion. However, most current UTXO model public chains do not have Layer-1 smart contracts and cannot implement complex business logic. We briefly investigated several other public chains. For example, Conflux is a UTXO model and uses ESpace to implement smart contracts compatible with EVM and non-BVM. Nervos makes a second layer similar to rollup to implement smart contracts. ADA modified the UTXO model and turned it into the EUTXO model to implement smart contracts, but the EUTXO model is not compatible with BTC. STX has smart contracts, POX consensus, non-UTXO model, and the ecological development is good.Kas supports EVM, but there are currently no smart contracts (the project roadmap says it will be supported in the future). TBC is committed to creating a complete underlying protocol by connecting Bitcoin and a multi-chain architecture. Currently supports NFT, Defi, data storage, BTCFI, BTC NFT and BRC20 implemented through conventional protocols, etc. Support for Ordinals & BRC20 will also be implemented in the second quarter. TBC's vision is to help unlock the full potential of Bitcoin and solve its congestion problem; in the future, BTC will no longer be just digital gold, not just a tool for storing value, but may also be used for daily transactions, including buying coffee. small consumption; and has a smart contract operating system like ETH. TBC has realized the functions that Buterin wanted to implement on Bitcoin back then. TBC will help BTC create a prosperous BVM ecosystem similar to EVM. three. Project Features and Advantages 1. Decentralization: Using the same POW consensus scheme as BTC and the same SHA256 mining algorithm as BTC, the project is publicly released as soon as possible to ensure that TBC is open and the release of TBC blocks is determined by computing power. Decisions should be made through fair competition and give full play to the market’s ability to optimize allocation. 2. Compliance and efficiency: TBC’s node software is protected by intellectual property rights, and the blockchain it supports adopts a KYC mining block mechanism, which can effectively prevent the risks of computing power attacks and asset theft when the network computing power is small. , forming a market economic environment with healthy competition. In addition, by distributing in compliance with intellectual property rights and respecting intellectual property rights, using blockchain as a carrier to promote the market transformation of inventions and creations, a micropayment market for knowledge and technology products can be born, promote the birth of individual practitioners, and promote the development of microtechnology. Efficient collaboration and market distribution among enterprises have huge application space and social progress significance. TBC node software will be gradually opened to the outside world after the open source agreement is improved. At the current stage, participants need to contact and cooperate one-on-one. 3. Unlimited expansion: Adopting an optimized UTXO high-concurrency model and upgrading the transaction format of the traditional UTXO model to create a super node that supports high-performance parallel computing, ensuring a dynamically scalable public chain that can carry millions of TPS; (in During the TBC test network test, TPS reached 13,000+).4. Layer-1 UTXO smart contract: TuringContract is the first pure one-layer practical Turing-complete smart contract solution based on the UTXO model, which can realize all the logic of the EVM. And thanks to the advantages of the UTXO model, TBC has the advantages of high performance and extremely low handling fees. 5. Zero-confirmation technology for transactions: FT&NFT transactions are completed instantly, with low-latency on-chain application user experience, and GAS fees decrease as the number of users increases. 6. Bitcoin operating system (feasible smart contract): data storage, contract execution, and transaction transmission are all completed on one chain. 7. The same wallet address as the Bitcoin wallet address: TBC applies the same amount and the same technical structure to BTC, and will enable the Bitcoin 1:1 Nakamoto mapping function in the future; it can realize the BTCfi narrative. (Enable the use of BTC as an asset, enable BTC as a transaction unit) 8. Friendly cross-chain modular infrastructure (tentatively named TuringBridge): A) The open source application library will be launched soon. B) Enable highly customizable, functional applications out of the box. 4. Economic model analysis 1. TBC is a fair launch, without ICO or IDO. Pure POW model of the FORK Bitcoin original protocol; both node operations and execution operations are funded by initial contributors. 2. The TOKEN of the TBC public chain is called TBC token; the release date is February 15, 2024. The maximum supply limit of TBC is 2.1 billion, of which 93.3% naturally existed at the time of the fork and has been locked. The remaining 6.7% is generated by POW mining. 3.TBC block interval: approximately every 10 minutes; difficulty adjustment algorithm: Asert FastDAA; mining algorithm: SHA-256 (BTC\BCH compatible); block size: initial upper limit of 4G (and dynamic expansion depending on the situation). 5. Development Team TBC Early developers come from more than 3 core technology geek teams around the world. They have many years of research experience in large blocks and expansion solutions. Moreover, TBC combines academic achievements from experts in the field of high-performance computing and has forward-looking and systematic design. TBC's underlying invention technology was announced in September 2021, and the Turing-complete, high-performance Layer1 smart contract Turing-Contract also completed design and experiments very early. In March 2022, the Turing-complete, high-performance Layer1 smart contract Turing-Contract was officially released.In December 2023, the TBC Alpha testnet was launched, where scalable solutions from experts in high-performance computing were verified. TuringContract executes at over 13k TPS. After several months of testnet testing, the TBC mainnet was officially launched on February 14, 2024. 6. Project Roadmap 1. Phase One: (BTCfi Phase) TBC aims to release the potential of Bitcoin to participate in ecological applications such as Defi, NFT, and LSD through BVM [Bitcoin Virtual Machine]. TBC’s approach is similar to what Polygon did with ETH. 2. The second phase: (Promote BVM to be compatible with all UTXO chains) a: Promote more UTXO chains to adopt BVM in the future, such as Doge’s ecosystem. b: Through the mature decentralized cross-chain infrastructure - TuringBrige assists the future integration of the UTXO BVM chain and the account model EVM chain ecology. 3. The third stage: (The block size enters the TB stage, and the handling fee approaches 0) TBC breaks the convention of high fees caused by a large number of users in the existing blockchain. As the network develops, TBC will demonstrate the charm of transaction fees decreasing as users increase. Low transaction fees are the basis for the popularity of public chains. 4. The fourth stage (the underlying public chain created for the real virtual world) allows the top players to occur (Bitcoin and TBC). Since TBC can run massive blockchain applications and verify data on the chain, the network effect continues to increase, TBC will assist BTC in leading the next generation of Internet. seven. Detailed explanation of TBC core technology TBC is a blockchain infrastructure with high performance and complete local intelligence. A. High performance A1. Infinitely scalable A2. Pipeline processing B. Intelligent and complete Each local UTXO chain is a complete Turing machine A1 High performance: infinitely scalable High performance means high parallel scalability, using distributed computing Instead of single-machine single-core computing, it includes two types of expansion: strong scalability and weak scalability. The former fixes the size of the problem and increases the usage of computing cores, resulting in a corresponding reduction in the total computing time, expressed as: Time(N) = Time(1) / N N is the number of CPU processing cores. The latter increases the number of computing cores while expanding the problem size. , which can keep the calculation time at a stable level, and the corresponding expression is: Workload(1)/1 ~? Workload(N)/N By studying a variety of parallel algorithms, the distributed computing model used by TBC can simultaneously It has two characteristics: strong scalability and weak scalability.A2 High performance: Pipeline processing is possible. TBC always implements the basic concept of pipeline in the smart contract design process, so that in the future, it can speed up the execution throughput of serial programs through hardware. B. Intelligent completeness Under TBC's UTXO model, each UTXO chain is a Turing machine. A large number of concurrent Turing machines form a practical intelligent and complete network of the blockchain. The underlying BVM is very different from the EVM. . Performance comparison of BVM and EVM underlying models BVM stack processor OP_PUSH_TX technology introduction TBC can currently choose OP_PUSH_TX technology to incorporate upstream and downstream transaction data into programmable data space to achieve local Turing complete capabilities. Isolated UTXO will enable different The programming space can be executed in parallel to achieve efficient block data verification and reduce the cost of each transaction. Data Expansion -> Hierarchical Hash TBC uses an original flat hierarchical hash model to solve the problem of data bloat and expansion in data transmission between nodes or in smart contracts, providing a solid foundation for the superstructure. What applications can TBC, a blockchain infrastructure based on high performance and complete local intelligence, support? 1 Full-path CA information sharing Internet based on blockchain 2 User Internet applications that go to a single data center By removing the control of individual data from a single data center (portal/social networking site), the current mass production relationships can be transformed, and the user's Finance, life, education, medical care, and work can all be reshaped. TBC has a high-performance and scalable layer of smart contracts, which can become an infrastructure such as telecom operators, allowing participants to reduce transaction packaging costs through technical competition and provide 95% of the functional needs of society. The remaining functional requirement space is left to a globally inefficient (like) EVM system. TBC has original high-performance computing technology practices, which need to become an infrastructure and be distributed compliantly on a global scale. In the application fields that affect people's livelihood, TBC's original compliance will leave behind other primitive jungle ecological projects and give full play to its value. TBC can give full play to the efficient organizational capabilities of law in a civilized society, and at the same time use the self-organizing ability of blockchain technology to value information to further feed back and promote the progress of national contract civilization, and achieve efficient decentralized self-organization under the encouragement of market competition. system.Originating from self-organization, and eventually forming a highly organized electronic world is the mission of TBC. Conclusion: TBC’s slogan is The blockchain for sencond life. It is the underlying public chain created for humans to enter the virtual world. At the same time, they are both the most important BVM virtual machine initiators in the BTC ecosystem. Just like Polygon in the BTC ecosystem, the mainnet has just been launched. With the explosion of the BTC ecosystem, TBC has the opportunity to become the leader of BTC L2. Let us wait and see.