What is the t3rn project? Basic information about the t3rn . token

• Overview of the t3rn . project 
• What is the t3rn project?
• What problem does the t3rn project solve?
• What are the highlights of the t3rn project?
• Components in the t3rn . platform
• Roadmap of the t3rn . project
• t3rn . developer team, investors and partners
• Overview of the t3rn . token
• The future of the t3rn project and should I invest in the t3rn token?
• summary

Overview of the t3rn . project 

What is the t3rn project?

t3rn has provided a new approach to interoperability and trustless cooperation between blockchains to create an ecosystem where anyone can deploy smart contracts easily.

The platform hosts smart contracts and allows cross-chain execution on independent blockchains. Users can also use smart contracts stored in t3rn's decentralized repository, and developers will get paid when someone else uses the code they have stored on t3rn.

The purpose of t3rn is to act as a parachain in Polkadot to ensure stability and security throughout the supply process. 

What problem does the t3rn project solve?

The majority of current platforms are mainly focused on transferring cryptocurrencies from one blockchain to another, but neglect a core application of blockchain technology that is smart contracts.

Smart contracts are protocols on a decentralized network, designed to enforce the terms of an agreement. Currently, smart contracts only work within the ecosystem of the blockchain on which they are deployed, whether it be Ethereum , Polkadot , Cardano or any other smart contract platform. This has limited usability and the number of users. 

t3rn was created to provide a solution to this problem by allowing smart contracts to be executable on many different blockchains.

What are the highlights of the t3rn project?

In order for smart contracts to execute on different blockchains, the biggest challenge lies in synchronizing two independent blockchains and ensuring that the smart contract execution is absolutely successful on both blockchains. . 

Because smart contract execution is immutable, it is impossible for a smart contract to execute successfully on one blockchain and fail on another. 

t3rn solves this problem by breaking smart contract execution on t3rn into individual, aggregateable steps, then uploading and storing on t3rn's unique Circuit.

Specifically as follows: Smart contracts when uploaded to t3rn are separated from data, fragmented according to execution steps and stored on t3rn Gateway. Thanks to this fork, a multi-chain transaction can be reversed until both blockchains involved issue a final commit signal. Therefore, if a transaction fails on one blockchain, it can be reversed on the other blockchain.

Smart contract execution on t3rn is broken down into individual steps (breaking down a process into its constituent, composable parts) as above of t3rn for the purpose of facilitating the ability to interoperability between blockchains. 

Users can rest easy knowing that any funds transferred via t3rn are safe, transactions on t3rn are always double insured of the transferred value. 

The t3rn offering comes with three main characteristics: Interoperability, insecure execution, composability. 

Interactive abillity 

Thanks to the unique Gateway solution, the t3rn platform has gained wide acceptance around the world. This makes connecting to blockchains quite easy. 

The t3rn protocol will provide unified standards for the development of new smart contracts on platforms and on blockchains using Gateways. 

Ensure safety in transactions

A transaction can be reverted if it fails at any point. Besides, t3rn ensures that users' funds are never at risk during multi-chain transactions. 

Validators are an important part of the t3rn ecosystem as they validate interoperable transactions for rewards. However, validators must always staking double the value of the transaction they are approving. 

If this validation is dishonest, the user will receive the validator staking amount equal to twice the value of their transaction, minus a 10% reward for the individual who reported malicious behavior. . 

The results of smart contract execution from the Gateway are double checked against the results on the circuit before being validated by the validators.

Ability to combine

As discussed above, t3rn smart contracts are decoupled from their data and standardized execution. 

Once the execution takes place, the individual parts of the smart contract are permanently stored in the t3rn archive as contract code available to anyone who wishes to use them. 

Developers add smart contracts to the t3rn repository and allow others to use their contributions for free, or can choose to receive remuneration from people using their code. 

Developers can also choose to use every part of the smart contract or simply any composable part of the contract that they need. This is intended to make it easier to design new smart contract systems.

Components in the t3rn . platform

Circuit (circuit) and Gateway (connection port) 

Gateway (Gateway)

Gateway is an access point to t3rn, connecting blockchains and allowing execution and interaction. Gateway includes: 

• Extrinsic programmable
• Intrinsic programmable
• Transaction-only 

Smart contracts hosted on t3rn are decoupled from their data (binaries). Ports will store and execute these binaries, then withhold the results of the execution until the final commit signal is given.

Circuit (Circuit)

Circuit allows to connect different components in t3rn. The circuit maintains the state needed on the network for the smart contract to be interoperable, storing a registry of rules, services, and contracts involved in execution. 

When a smart contract is executed on a Gateway, the validators on the Circuit will redo every execution step performed on that Gateway, comparing and validating the results to ensure proper, successful execution. 

The circuit acts as a connector of critical components throughout the t3rn product but also acts as a circuit breaker, should a transaction be made improperly.

On-chain smart contract repository 

• Allows developers to write smart contracts in familiar languages ​​such as Ink, Solidity, WebAssembly or anything compiled by WASM.
• Developers can use smart contracts stored in the t3rn platform's repository or get paid when a smart contract they submit to the platform is executed.
• Developers can upload smart contracts to t3rn without rewriting.

Open Execution Platform 

• Anyone can make money from collecting fees or getting rewards by becoming a matcher, validator, forwarder in the t3rn ecosystem.
• Users who provide liquidity will also earn staking rewards.
• Developers have the opportunity to receive support from a dedicated contributor fund.

Roadmap of the t3rn . project

Q1 2021: Gateway (completed)

Built with Substrate, the Gateway can be integrated to provide reversible smart contract execution using escrow accounts and provide the necessary proof of execution, storage, transfer.

Q4 2021: Circuit (in development)

The circuit implements the protocol features outlined in the Whitepaper and operates on semi-decentralized PoA. This allows solutions to be built with t3rn once the on-chain repository and its underlying storage are deployed.

Q2 2022: Polkadot Parachain (plan)

The circuit works on decentralized PoS facilities, community members can take an active role as validators and executors, t3rn will then be ready to become Polkadot Parachain.

t3rn . developer team, investors and partners

Development team

Maciej Baj – Founder & CTO : He holds a Master's degree from Wrolaw University and Technology. He used to be a software engineer at Nokia and recently held many senior positions in the Lisk Coin project.

Jacob Kowalewski – CSO : He graduated from the University of Nottingham. Previously, he also worked as a sales team leader in the Lisk Coin project.

Nick Gregory – Technical Advisor : Nick Gregory has an important role in the t3rn project. Nick is a blockchain investor and software engineer who has been involved in Bitcoin since 2012. He has also held leadership positions at various investment banks. 

Andrew Horbury – Regulatory Advisor : Andrew is a mentor in the development steps of t3rn to ensure the project is not only compliant with current regulatory requirements, but is also free of errors in the future, when regulations develop. Andrew Horbury has advised the world's leading financial institutions, including law firms, accounting practices, trusts and banks on matters relating to their regulation. blockchain. 

Urban Osvald – Growth Advisor : Urban has extensive experience in marketing, community, and business development, playing an important role in guiding t3rn's strategic decisions. Urban currently works at the Web3 Foundation, and is one of the team members that launched Polkadot. 

Investors

The project has raised US$1.35 million in a seed round with big-name investors such as Polychain Capital, IOSG Ventures, Digital Finance Group.

Partner

Investors and partners of t3rn

t3rn's original development partner was the Web3 Foundation. The foundation provided a grant to the team to demonstrate t3rn can provide a possible solution to the cross-chain smart contract enforcement problem.

The funding splits into four different milestones and will end when the team provides a full proof of concept to the Web3 Foundation, demonstrating that t3rn is a solution to a longstanding problem for blockchain interoperability. . 

t3rn is also proud to be a member of the Substrate Builder Program, a Parity initiative to support the most promising projects built with Substrate. 

In addition, t3rn also has a close partnership with the best projects in the Polkadot ecosystem to bring their products outside of Polkadot, through t3rn's unique solution for cross-chain enforcement and collaboration. does not require trust.

Overview of the t3rn . token

Currently, the project has not issued tokens yet. However, the project has said that its token will be the TRN token. The TRN token has the following functions:

• TRN will be used to execute cross-chain transactions and also as a common medium of exchange for interoperable transactions.
• TRN is also used to incentivize the growth of the network. The t3rn community can earn tokens by staking their tokens or providing liquidity to the network.
• Developers contribute smart contracts to the t3rn open source code repository so that other users can choose to be paid in TRN tokens each time their code is deployed.
• TRN token holders will be able to vote on important issues such as network upgrades and future developments.

The future of the t3rn project and should I invest in the t3rn token?

t3rn will act as a parachain on the Polkadot network. The security provided by Polkadot will make t3rn more secure during inter-blockchain interactive transactions, while providing network stability. 

Developed with support from the Web3 Foundation, t3rn aims to be a mainstay in the thriving Polkadot ecosystem, making completely trustless collaboration between blockchains a reality, promoting development of blockchain technology and open source software. 

However, at present, there is not much information about the project to be able to make a full judgment on the development potential of t3rn. Investors can find out more information about the project updated on TraderH4 , or on the project's communication channels such as:

Website | Twitter | Telegram | Github | 

summary

The emergence of t3rn has made a strong innovation for the blockchain platform, especially for smart contracts. Developers will now have less worries about building smart contracts, so they can create better quality products.

Hopefully with the active cooperation of t3rn and Web3 Foundation, users can receive the most powerful and optimal products in the not too distant future.

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