Mercury Layer
@mercurylayer
Bitcoin off chain MPC Layer 2 protocol. First live state chain implementation.
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And in some ways less. No blinded signer which is the key innovation of @mercurylayer
The code for Mercury Layer is sitting right here. It needs a new champion. Lightspark is basically the same protocol. Cc: @TTrevethan @mercurylayer @gregory_nico github.com/commerceblock/…
Statechains are only interested when they are blinded. @mercurylayer implemented this two years ago, all open source…
Found out today that @lightspark's statechain model does NOT use a blinded server. It's not a privacy tool. That's sad. I recommend preferring Mercury's over Lightspark's if privacy is important to you.
and as im asked quite often, an incomplete list of what im excited for: -@citrea_xyz rollup w/ bitvm bridge -@Strata_BTC rollup w/ bitvm bridge -@BotanixLabs launching + research on spiderchain -@babylonlabs_io and bitcoin staking in general -@ArchNtwrk sidechain where VM…
Bitcoin Layers’ year in review 🔬 I wrote a review on @bitcoinlayers' yearly progress for @blockspacepod. 2024 was supposed to be the year of the bitcoin renaissance, but the year was largely driven by speculation and custodians propping up TVL. All (mostly) secured by ambiguous…
This guy has not heard of @mercurylayer or OpenDimes…
Recently, I have seen several instances where people receive crypto by receiving a private key or a hardware wallet. This is a bad idea. The giver still has access to those crypto. You should move the crypto to an address you own. Or better, just ask the giver to send it to…
Bitcoin wasn’t hijacked; it was understood early that blockchains don’t scale easily, much like databases. How do Google/Amazon scale? With multiple DBs and caches. Bitcoin hasn’t cracked that yet—truth is, demand isn’t overwhelming. This debate reminds me of my time at Merrill…
Originally i wanted to contribute to bitcoin because I was genuinely board in my 9 - 5 job and bitcoin looked like something that could change the world...
sadly i don't think i have anything to say to people who are suspicious of the motivations of opensource developers, trying to deliver value to users around the globe often without any compensation in sight, but will cheer for the involvement of creatures like Fink and Saylor.
This is outrageous—a government official attacking Bitcoin without evidence of it being used in this way. Pure fear-mongering. Yet another dark day under one of the most clueless governments we’ve seen...
There’s been some confusion about what @mercurylayer is (and isn’t). The original concept explored a mechanism to send private keys via adaptor signatures. However, this wasn’t feasible at the time due to the lack of Schnorr signatures, plus the complexity of passing an adaptor…
Surprised to see you tagging Andreas in this conversation while breaching the actual ethos of open source software (esp in Bitcoin) and not crediting a single second the work of @mercurylayer @TTrevethan and @gregory_nico that’s been years in the making (since early 2020). :)
All thanks to the work that mercury has done. Wouldn’t have been possible otherwise
Great to see another statechain. The more the merrier...
What projects are building on state channels? 🔹 @mercurylayer enables Bitcoin UTXO transfers off-chain via shared key custody and statechains, allowing instant, zero-cost transactions without on-chain confirmation. 🔸The Lightning Network facilitates fast, low-cost Bitcoin…
Really interested and well written paper on Bitcoin scaling via ZKPs. Some challenges around verifying ZKPs using polynomial operations, but the ideas are promising. Perhaps @mercurylayer’s MPC-based trusted setup could help with the initial covenant deployer, ensuring secure…
More building of sample @mercurylayer apps. This time using a electron to as to fire up simple UI. #bitcoin #Layer2 #Statechains github.com/nicosey/electr…
A @mercurylayer statecoin blindly signs a psuedo-chain of backup transactions, but these are not broadcasted. Its uses MuSig2. Its live and and production ready...
A scaling concept I might imagine for UTXOs is creating a pseudo-chain which is regular chains of transactions but not broadcast. Channels and other stuff transparently receive and spend these virtual outputs. To reduce chain lengths cooperation with MuSig2 is used to aggregate.
Keep on building. Nice tutorial from @TTrevethan to build a simple web app with @mercurylayer #Bitcoin #L2 docs.mercurylayer.com/docs/web-lib/t…
Agree here that Arkoor is not custodial, even through there is a trust assumption - and this is an important distinction when it comes to the legal status and obligations of an ASP. 1/5 x.com/stevenroose3/s… @super_testnet @stevenroose3 #ark #bitcoin #layer2 #mercury
So, effectively it's a race to the bottom between the duped user and the ASP which in Bitcoin means that either side lose all and the miners will take it all. Arkoor is not a fully trustless model, but it's far from being custodial. At no point can the ASP steal the money 5/5
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