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Author: bitfinex; Translation: 0xxz@作 作 作 作 作
Mercury Layer was created by Commerce Block, representing major progress of the Bitcoin 2 layer expansion ecosystem, focusing on enhancing privacy and efficiency through StateChains.Mercury Layer can achieve the Bitcoin UTXO chain transfer and settlement without sacrificing owners’ funds and security.The 2 -layer protocol uses the status chain and blind combined signature technology to promote instant and free transactions, providing a novel method for Bitcoin’s scalability.
The status chain implemented by Mercury Layer implements UTXO’s chain transfer through a combination of key sharing and blind signs to ensure that UTXO’s ownership can be safe and private.The design of the protocol ensures that participating in the state chain entity (SE) or either party cannot fully control the private key, thereby maintaining the trust of the transaction to minimize security and privacy.
The “blind visa” technology introduced by Mercury Layer is a breakthrough function that ensures that SE cannot identify or review transactions based on transaction content, thereby further enhancing the privacy of users on the Bitcoin network.This method can prevent SE from understanding the details of the transaction, such as the TXID, public key, or its signatures that involved.In addition, the protocol uses the Schnorr signature through the Taproot address, and uses the blind variant of the Musig2 protocol to generate signature without leaking sensitive information to SE.
The Mercury Layer protocol also includes mechanisms such as backup transactions and orderly closing processes. Users can recover funds independently when SE cannot cooperate or respond without response.This ensures that the user’s security net enables them to better control their assets.
Through instant, zero -cost, and private chain transactions to solve the scalability and privacy problems of Bitcoin, Mercury Layer has paved the road more widely for various applications that need instant, security and private transactions.Its integration with the Lightning Network has provided further possibilities to enhance the trading capabilities of Bitcoin, making it a key development that seeks more scalability and privacy -centric Bitcoin ecosystems.
Great improvement of scalability and user privacy
By promoting the chain transfer of Bitcoin UTXO ownership, Mercury Layer greatly reduced the burden on the Bitcoin blockchain.This mechanism allows a significant increase in the number of processed transactions without directly affecting the blockchain main network, thereby enhancing the scalability of Bitcoin.
Mercury Layer’s use of the status chain is the core of its scalability improvement.The status chain allows all parties to transfer UTXO without having to conduct chain transactions.This is achieved by sharing UTXO between the primitive owners and the SE, and then implemented by the key update ownership.This process enabled the blockchain main network to transactions, which greatly increased throughput.
A key feature of Mercury Layer is the realization of its blind joint signature to ensure that SE cannot learn about trading IDs, public keys involved, and even the signatures it helps created.This blindness ensures that transactions maintain privacy and security, and are not reviewed or monitored by SE.
Mercury Layer uses the variant of the Schnorr signature scheme to allow the signature by sharing the public key without leaking the complete key to the SE.This ensures that transactions can sign safely while maintaining the privacy of user keys.
The agreement ensures that any party, including SE, cannot completely control the user’s funds.The shared control mechanism, combined with backup transactions and orderly closing processes, not only enhances security, but also protects user privacy by preventing any unilateral behavior of SE.
Mercury Layer’s status chain provides users with a method of prove the only nature and ownership of its funds, and does not need to expose its transaction history or balance to the network or SE, thereby protecting financial privacy while ensuring the integrity of the network.
What is the Mercury Layer compared with other Bitcoin 2 -layer protocols?
Mercury Layer represented the unique method of expansion and privacy solutions on the Bitcoin network, which is significantly different from other famous 2nd layers such as Chaumian E-Cash, side chain and lightning networks.Each of these solutions provides unique transaction scalability and privacy mechanisms, each with its advantages and limitations.
The following is a comparison of Mercury Layer and side chains, lightning networks and Chaumian E-Cash:
Mercury layer and side chain
Operating model: Mercury Layer uses status chain to promote Bitcoin UTXO chain trading while maintaining its security and privacy.It can achieve scalability and privacy through blind joint signatures and key cycles without having to transfer assets between chains.
The side chain is an independent blockchain that runs parallel with the Bitcoin main chain, allowing assets to be linked and transferred between the main chain and the side chain.This can promote a wider range of applications and smart contracts impossible on the main chain.
Trust model: Mercury Layer requires trust in SE to act honestly, promote the transfer of UTXO and maintain privacy through blind operations.However, the agreement aims to minimize trust through the encryption mechanism.
The side chain may need to trust the entity of the side chain, depending on the consensus mechanism used.For example, Federated Sidechains depends on a set of authenticists to protect the network and approve cross -chain transmission.
Scalability and privacy: Mercury Layer directly solves scalability through allowing a large number of under -chain transactions without affecting the throughput of Bitcoin blockchain.It enhances privacy by ensuring that SE cannot understand the detailed information of its promoted transactions.
The side chain can provide higher scalability and different privacy functions based on its design, but privacy and scalability depend on the specific architecture of the side chain and its mechanism.
Mercury Layer and Lightning Network
Operating model: Lightning network realizes under -chain transactions through the payment channel between the two parties.These channels allow almost infinite transactions, and only when the channel is opened or closed, these transactions will be settled on the Bitcoin blockchain.
Mercury Layer’s use of the status chain is different because it promotes the chain transfer of UTXO ownership.Unlike Lightning Networks with funds in advance, Mercury Layer can transfer existing UTXO.
Scalability: Both Lightning Network and Mercury Layer provide solutions for the scalability of Bitcoin.The Lightning Network implements this by promoting the payment channel network that promotes micro -transactions, and Mercury Layer is realized through the chain UTXO transmission.
Mercury Layer may provide a more direct chain value transfer mechanism without channel management and routing, but it focuses on UTXO transfer instead of promoting a large amount of small transactions.
privacy: Lightning networks will not broadcast transactions to public blockchains before the channel is closed, thereby providing privacy advantages.However, routing information may leak privacy sensitive information.
Mercury Layer enhances privacy through blind joint signatures, making SE unable to understand any details of its help to promote transactions, thereby providing a strong privacy guarantee.
Use case: The Lightning Network is very suitable for small and frequent payment, making it an ideal choice for small payment and daily transactions.
Mercury Layer is particularly favorable for privacy -sensitive transmission and potential large transactions because it focuses on maintaining UTXO’s ownership, privacy and security.
Mercury Layer and Chaumian Ecash
Operating model: Mercury Layer is a 2 -layer extension solution based on the status chain to promote the mortal of the Bitcoin UTXO chain, and the owner maintains a complete self -custody.It uses blind signature and key circulation technology to ensure privacy and security.
Chaumian Ecash is a digital cash system that focuses on privacy, using blind signed names to provide users with anonymity.It allows the creation of mints or banks, and users can deposit and extract funds in the mint or bank and conduct anonymous transactions in the mint.
Trust and hosting risk: Mercury Layer can minimize trust by ensuring that both SE and users are unable to fully control the private keys, so cooperation needs to be traded.It introduces a novel way to transfer Bitcoin ownership without the need to transaction on the chain.
Chaumian Ecash introduced a trust model that users must trust the coin factory operator to a certain extent.However, the federal cointer allocates trust in many parties to reduce risks.The privacy and security of transactions in the mint depends on the integrity of these operators.
privacy: Mercury Layer uses blind visa technology to ensure that SE cannot know any transaction details and provide users with high privacy.It is designed to prevent internal and external privacy leaks.
Chaumian Ecash provides strong privacy functions in design, using blind signatures to prevent mint operators from linked users with transactions or balances.It effectively solves the problem of internal privacy leakage, but must be carefully designed to prevent external analysis and surveillance.
Scalability and availability: Mercury Layer directly solves the scalability of Bitcoin by enabling UTXO transmission in the chain, which may support a greater transaction volume without burning the Bitcoin network.The method is simplified to simplify the user experience by abstracting the complex channel management in other 2 -layer solutions.
Chaumian Ecash also provides scalability advantages by enabling the transaction in the mint.It simplifies the user experience, and it can be easily traded without direct blockchain interaction.However, scalability is limited to the ecosystem of the mint and depends on the ability of the mint to deal with a large number of transactions.
Integrated with existing networks: Although Mercury Layer is an independent 2 -layer solution focusing on UTXO transmission, its principle can theoretically integrate with other networks to enhance functions.
The CHAUMIAN ECASH cointer can be designed to operate with the lightning network, and a bridge is set up between the ECASH system centered on the privacy -centered ECASH system and the high -efficiency small payment channel of the lightning network.This interoperability can enrich the Bitcoin ecosystem by meeting the diverse trading options of different users.
In short, although the side chain, Chaumian E-Cash, and Lightning Network have expanded the function of Bitcoin in different directions, Mercury Layer provides a novel way to focus on privacy and UTXO ownership security transfer.Each of these 2 -layer solutions plays a vital role in enhancing the scalability, privacy and practicality of Bitcoin to meet different cases in the ecosystem.
