TrueChain: Highly Performant Decentralized Public Ledger

In this paper we present the initial design of truechain consensus protocol and other technical details. Briefly, our consensus design enjoys the same consistency, liveness, transaction finality and security guarantee, a de-facto with the Hybrid Consensus. We discuss optimizations like frequency of rotating committee members and physical timestamp restrictions. We go on to propose the idea of a new virtual machine on top of Ethereum which adds permissioned-chain based transaction processing capabilities in a permissionless setting. We also use the idea of data sharding and speculative transactions, evaluation of running of smart contracts in a hybrid cloud infrastructure and usage of existing volunteer computing protocols for something we introduce as a compensation infrastructure. In the next version of this Yellow Paper, we will address some of these properties formally along with few of the future directions listed at the end of the paper.