#BTCS Why am I so sure that Unisat will solve the #BTC    BRC20 Liquidity issue, let me popularize it today.



The problem solved by simplicity:
1, The security of Decentralization.
2, convenient as the original BTC Address.

Everyone may have been misled by the previous BTCL2, because the previous BTCL2 was too centralized and failed, leading to a general loss of confidence in the BTC ecosystem, thinking it was a pseudo-demand. The main reason is actually because of centralization, which has not attracted and activated large funds on-chain, not to say that centralization will definitely lead to Rug Pull, but there are uncontrollable factors for large funds. Just imagine, are you willing to pass hundreds or thousands of BTC through centralized cross-chain bridges into the so-called second layer?

In short, a good solution is needed to address the issue of Decentralization trust.

1⃣️The security issues of Decentralization are solved by Unisat's fractal network, #UniSat's MPC technology logic analysis

In the context of the rapid development of blockchain technology, the security and privacy of Cross-Chain Interaction operations have become particularly important. UniSat uses Multi-Party Computation (MPC) technology to achieve the security of its Cross-Chain Interaction solution and Decentralization. The following are the logic, advantages analysis, and Cross-Chain Interaction time and logic of UniSat using MPC technology.

What is Multi-Party Computation (MPC)?

Multi-party computation (MPC) is a cryptographic technique that allows multiple participants to collaboratively compute the value of a function without revealing their respective input data. MPC ensures the privacy and security of data during the computation process, even if the computation task is distributed across different Nodes, no single Node can obtain the complete data.

UniSat's MPC implementation logic

1. Distributed Computing:
UniSat uses MPC technology to distribute computing tasks to long independent participating Nodes. These Nodes each hold a portion of the Private Key and collectively participate in the computation process. The entire computing task is divided into several parts, and each Node is only responsible for the part assigned to it, without needing to understand the computing content of other Nodes.

2. Threshold Signature Scheme (TSS):
In the MPC framework, UniSat adopts the threshold signature scheme (TSS). TSS requires a certain number of Node (i.e. threshold) to generate a valid signature. This means that even if some Nodes are damaged or maliciously attacked, as long as the remaining number of Nodes reaches the threshold, the system can still operate normally and generate valid signatures.

3. Zero-Knowledge Proof(ZK):
UniSat also incorporates Zero-Knowledge Proof technology to enhance the privacy of the system. Zero-Knowledge Proof allows nodes to verify the correctness of calculations without revealing the specific data content, ensuring the security and privacy of Cross-Chain Interaction transactions.

4. Dynamic Replacement Mechanism:
To further enhance the security of the system, UniSat has adopted a dynamic replacement mechanism. This mechanism allows the system to dynamically replace the affected Node when an abnormality or attack is detected, thereby ensuring the overall security and reliability of the system.

Cross-Chain Interaction time and logic

1. Cross-Chain Interaction Time:
The Cross-Chain Interaction operation from the BTC chain to the UniSat fractal network typically takes several hours to complete. This includes the confirmation time of the BTC Block chain (usually 1 to 6 Blocks, each Block takes about 10 minutes) and the processing time of the fractal network. Conversely, the time for the Cross-Chain Interaction operation to return from the UniSat fractal network to the BTC chain is similar, requiring waiting for the confirmation time of the BTC chain.

2. Cross-Chain Interaction Logic:
- Send transaction: User initiates Cross-Chain Interaction transaction request to transfer BTC to the bridgeAddress of the fractal network.
- Confirming Transactions: BTC Block on-chain transactions require several Block confirmations to ensure the irreversibility of the transaction.
- Distributed Validation: MPC Nodes jointly verify and process Cross-Chain Interaction requests to ensure the accuracy and security of transactions.
- Asset bridge: After the transaction is confirmed, the Fractal Network generates corresponding asset representations and allocates them to the user account.
- Rollback transaction: When returning from the fractal network to the BTC chain, repeat the above process to ensure that all transaction Nodes complete the corresponding signature and verification.

#UniSat MPC technology advantages

- Decentralization: MPC technology ensures that computing tasks are collectively completed by long independent Nodes, avoiding single point of failure and enhancing the degree of system Decentralization.
- Privacy protection: Each participant only sees their own part of the data, protecting the privacy of the overall data.
- Attack Resistance: The threshold signature scheme and dynamic substitution mechanism improve the system's resistance to malicious attacks, ensuring the robustness and security of the system.

2⃣️ #UniSat Address consistency implementation logic

Supports multiple BTC Address formats

1. Multiple format support:
UniSat supports multiple BTC address formats, including Legacy (P2PKH), Nested SegWit (P2SH-P2WPKH), Native SegWit (P2WPKH), and Taproot (P2TR) Address. This diversity ensures that users can seamlessly convert address formats between the Fractal network and BTC Mainnet, maintaining consistency.

2. Address Management:
UniSat Wallet allows users to switch between different BTCAddress formats in the settings. This flexibility enables users to maintain the same Address structure in different network environments, thereby achieving Address consistency between the Fractal network and BTCMainnet.

Implementation logic

- Create Consistent Addresses: When users generate addresses on the UniSat Fractal Network, UniSat ensures that these addresses are in the same format as the addresses used by the users on BTC Mainnet. By supporting multiple BTC address formats, users can seamlessly switch between the Fractal Network and BTC Mainnet without changing their addresses.
- Address format conversion: Users can select and switch between different BTC address formats in the settings of UniSat Wallet. This conversion is transparent, ensuring the consistency and compatibility of the Address format in Cross-Chain Interaction operations.

Through these measures, UniSat achieves consistency between the fractal network and BTC Mainnet Address, enabling users to use the same Address in different network environments, thus simplifying Cross-Chain Interaction operations.
BTC-1,37%
ZK1,47%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
NMESOMACHUKWUvip
· 2024-07-18 21:31
Buy the Dip 🤑.To Da Moon 🌕
Reply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)