The Mercury Layer is a technology that takes the R_1 = R1_1 + r2_1.G + b1.P and the e1 = SHA256(P||R_1||m1) for sig1_1 = r1_1 + c1.s1 and runs it all through the flux capacitor in order to obtain the dihedral synchro-helix actuation of the hash of the transaction. And that is clearly an improvement to the privacy of bitcoin.
very funny but this looks somehow familiar. Small r times big G is big R. And then some stuff around it that makes it obscure. This is similar how everything in Bitcoin looks 🧐🧐
Aren't the statechains on which Merculylayer is based a brainchild of Ruben? He may not know about all Mercury's implementation details, but I'd imagine he knows a lot about the protocol.
one of benefits listed in the article, interop with lightning:
By utilizing Statechains, you get to open and close channels off-chain at minimal costs. Is your channel too small? No problem. You can simply transfer your existing channel over to a larger UTXO. This can be particularly powerful considering it’s hard to know ahead of time how much capacity will be needed in a channel. Now you can cheaply experiment, and once you have a stable channel, you could choose to effortlessly move the channel over to the base layer by exiting from the Statechain.
Ruben is doing amazing work for Bitcoin. Very humble, so several of his projects take time to be recognized, but in the long run, I see his ones that require a soft-fork having a higher chance at success than similar ones such as BIP300 that suffer from the toxicity of their promoters.
Very cool, the technical details are very interesting but also it would be nice to share the why. Why this layer 2 over lightning, etc.
I do believe there is a typo:
The spending condition is most commonly defined by a single public key and can only be spent by a transaction signed with the corresponding public private key.
Mercury takes a UTXO as a building block and creates a system in which that one UTXO can be handed over to someone else.
This is facilitated by math! It comes down to this: s = s1 + o1 = s2 + o2.
Where s is the private key required to spend the UTXO. And s1 and s2 are the private keys of the facilitator (this is the guy you have to somewhat trust). And o1 is the private key of the original owner. o2, you guessed it, the private key of the new owner!
There are some provisions to make all of this safe and offline but in a tiny nutshell, this is it.
What do you mean? Its perfectly clear.
The Mercury Layer is a technology that takes the R_1 = R1_1 + r2_1.G + b1.P and the e1 = SHA256(P||R_1||m1) for sig1_1 = r1_1 + c1.s1 and runs it all through the flux capacitor in order to obtain the dihedral synchro-helix actuation of the hash of the transaction. And that is clearly an improvement to the privacy of bitcoin.
This is a very helpful summary, thank you. This one isn't as good as yours, but is slightly more verbose for people who prefer that.
very funny but this looks somehow familiar. Small r times big G is big R. And then some stuff around it that makes it obscure. This is similar how everything in Bitcoin looks 🧐🧐
Pretty cool technology, but it not consumer facing, as of yet. Heavy read even if you are technical.
Right, I think I saw a post that said they had a CLI available for users
Let's ping @RubenSomsen for an ELI5 explanation ;)
this is the guide he wrote couple years back
Not really related, mercurylayer is built by different people / team
Aren't the statechains on which Merculylayer is based a brainchild of Ruben? He may not know about all Mercury's implementation details, but I'd imagine he knows a lot about the protocol.
Oh my bad, just realized Mercurylayer improves a lot on the initial statechain concept. https://bitcoinmagazine.com/technical/mercury-layer-a-massive-improvement-on-statechains
Yes, very much inspired by the work done by Ruben.
https://twitter.com/SomsenRuben/status/1744751223016702119 Here is a thread where he participated.
@south_korea_ln tagged Ruben, was posting his guide
one of benefits listed in the article, interop with lightning:
Ruben is doing amazing work for Bitcoin. Very humble, so several of his projects take time to be recognized, but in the long run, I see his ones that require a soft-fork having a higher chance at success than similar ones such as BIP300 that suffer from the toxicity of their promoters.
Very cool, the technical details are very interesting but also it would be nice to share the why. Why this layer 2 over lightning, etc.
I do believe there is a typo:
The spending condition is most commonly defined by a single public key and can only be spent by a transaction signed with the corresponding
publicprivate key.I noticed that too.
Ok I am confused.
Well you know....the people who are aesthetically challenged are typically the ones that are great at code lmao.
Idk whether to be offended by that or not lol
ELI5?
Mercury takes a UTXO as a building block and creates a system in which that one UTXO can be handed over to someone else.
This is facilitated by math! It comes down to this:
s = s1 + o1 = s2 + o2.Where
sis the private key required to spend the UTXO. Ands1ands2are the private keys of the facilitator (this is the guy you have to somewhat trust). Ando1is the private key of the original owner.o2, you guessed it, the private key of the new owner!There are some provisions to make all of this safe and offline but in a tiny nutshell, this is it.
Caveat: I'm just learning about this as well
interesting idea,
Beauty is in the eye of the beholder.
Ohh really how disgusting... 😕
Seems quite neat. One wonders how hyped it would have been if developed on one of the US coasts.
will stick to eth rollups they seem to know what they are doing
https://l2beat.com/scaling/summary
Why?
lol best advert to source a marketing manager
Haha nice message
👏👏
Hell yeah!
Where is the software wallet?
There's none yet. Not really. Check out their Github: https://github.com/commerceblock/mercurylayer
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You can do this async (so good UX).
Pretty good security too, the facilitator (
SEor Statechain Entity) can't run away with your coins.