Announcing the Steak Network

Decentralized networks are a rare medium well-done.

Matt Condon
Dec 1, 2017 · 4 min read
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The $TEAK Token

We’re bootstrapping the Steak Network through the Initial Cutting of $TEAK (ICS), and every single Ether given to the crowdsale is donated to second-layer, community-focused projects like MyEtherWallet, the Ethereum Foundation, CryptoKitties, and the Doge-Eth Art Project.

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Advisors

We’re proud to be advised by some of the most visionary names in the crypto-humor industry, including Jackson Palmer, Preethi Kasireddy, Benny Giang, Arthur Camara, Rob Bent, Jason Teutsch, and Ricky Medina.

Investors

We’re extremely proud to be backed by the collective might of some of the most influential investors in the space, including Ryan Zurrer, Linda Xie, Michael Karnjanaprakorn, Lucas Ryan, Alex Lines, Nicholas Chirls, and Josh Nussbaum.

📡 How does it work?

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🎲 The Grilling of the Cook

If a challenge by a Grill Master is made, the Grilling of the Cook determines whether or not a Proof of Steak is valid. In TrueBit’s Verification Game, arbitrary computation must be iteratively validated, but because the Steak Network is only concerned with verifying the validity of Proofs of Steak, we can simplify the model considerably.

❗Forced Errors

The Steak Network also implement’s TrueBit’s Forced Errors logic to incentivize proof challenges. In the case of a forced error, the game mechanics are inverted: a Cook submits an invalid Proof of Steak and Grill Masters are rewarded by a jackpot for successfully challenging the Cook. Because of the jackpot payouts, network participants are financially incentivized to be on the watch for invalid Proofs of Steak.

The Proof of Steak Whitepaper

Read the whitepaper (pdf warning) for more details. We’ve planned major protocol revisions in the coming weeks, so stay tuned!

Is This Real?

Yeah, kinda.

  • The ICS is real and happening. You will get real $TEAK in exchange for your donation.
  • The jokes are real (bad).
  • Nobody involved has contributed any money to this project, least of all the “investors”; there is no guarantee that your $TEAK will be worth more than the network fee required to mint them.

Truebit

Scalable, trustless computation

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