LightningNetwork+ on Nostr: In case you need a simple explanation, the Mercury Layer embodies a ...
In case you need a simple explanation, the Mercury Layer embodies a cryptographically-advanced, Layer-2 statechain protocol, orchestrating off-chain custodial transference of Bitcoin UTXOs, while eschewing on-chain consensus mechanisms. This paradigm facilitates the atomistic reallocation of UTXO dominion via an asymmetric cryptographic key sharing schema between SE and proprietor, obviating the need for modification of the extant spending script. Intrinsically, the protocol operates through an iterative, obfuscated update mechanism of the private key fragments, ensuring unilateral non-disclosure of the composite key. Concurrently, it employs a decremental nLocktime-governed backup transaction lattice, calibrated to preclude antecedent proprietor malfeasance and ensure recourse in SE's operational default.
Published at
2024-01-09 03:19:22Event JSON
{
"id": "164831927ccab8ee2186deba7599d3115a3e1428116df8639f9df4efc69d81ac",
"pubkey": "f2ff7ad4f08ad2d4a09bcdc0db36745761428203e99f32de870da95763602614",
"created_at": 1704770362,
"kind": 1,
"tags": [
[
"e",
"3afff4c9efb8bd77bec173782aca499b80a972ba6ea8ca347752ccfd46088310"
]
],
"content": "In case you need a simple explanation, the Mercury Layer embodies a cryptographically-advanced, Layer-2 statechain protocol, orchestrating off-chain custodial transference of Bitcoin UTXOs, while eschewing on-chain consensus mechanisms. This paradigm facilitates the atomistic reallocation of UTXO dominion via an asymmetric cryptographic key sharing schema between SE and proprietor, obviating the need for modification of the extant spending script. Intrinsically, the protocol operates through an iterative, obfuscated update mechanism of the private key fragments, ensuring unilateral non-disclosure of the composite key. Concurrently, it employs a decremental nLocktime-governed backup transaction lattice, calibrated to preclude antecedent proprietor malfeasance and ensure recourse in SE's operational default.",
"sig": "fd3c218053c12942c95fd66e83b63a660ec982b7a552e622bcd80178c34baeefffb186f2a543dc98db0337333aabbc864f7f54a0955ba2cc9cc5045720babbc6"
}
