Description
Build the trust of Bitcoin on Layer2 Networks
Custodial Mode -1
V1.0 Light node + multi-signature custody scheme
We assembled Bitcoin light nodes for the first time with Wasm technology, which supports transaction proof verification and POW verification of Bitcoin block headers, with detrusted relay chain as the bridge for notification.
The implementation of light nodes on ChainX adopts the same consensus verification algorithm as the Bitcoin chain in verifying all block headers of the original chain, and ensuring data security through transaction roots and transaction signatures.
Custodial Mode -2
V2.0 Threshold Signature Custody Scheme
What remains the same with version 1.0 is that BTC withdrawal requires multiple signatures of the custodians to complete the asset transfer. What differs is that in 2.0, the threshold multi-signature technology is deployed through Taproot to replace traditional multi-signature method.
The Schnorr signature algorithm can aggregate multiple signatures into one digital signature and store it on the blockchain network. The Mast contract can achieve N/M signatures while hiding complex conditions, which greatly improves privacy protection.
Non-custodial Mode
X- Lighting
The Lightning Network is a new protocol layer built on top of Bitcoin. It uses cutting-edge smart contracts to enable faster transaction speeds and greater throughput than Visa, while retaining the peer-to-peer nature of the Bitcoin protocol.
ChainX will implement its own version of the Lightning Network protocol（X- Lighting）, by offering faster and cheaper bitcoin transactions, we will open the door to a new world of bitcoin transactions, many of which are not possible with traditional financial systems.
How does ChainX achieve the scalability of Bitcoin?
ChainX will support deployment Substrate and Ethereum smart contract projects in the future. BTC will share the role of ETH in Ethereum