ChainX will Replace the Traditional Multi-signature Scheme with Threshold Signature
For all bitcoin fans, this is a highly anticipated month because we are about to usher in the significant bitcoin taprot upgrade. At the same time, the focus of our work is also around this.
Next, we will make a specific report on our work progress:
The Bitcoin Taproot project
When users transfer bitcoins on ChainX, we adopt the witness custody model, and multiple trust nodes use multiple signatures on the chain to vote to complete the destruction-unlocking process.
By this Bitcoin Taproot upgrade, we will replace the traditional multi-signature scheme with threshold signature technology, which will bring strong privacy and a significant reduction in transaction costs. ComingChat’s new threshold wallet users will also benefit from this.
The Progress of The Bitcoin Taproot project:
1） Achieved Musig2 multi-signature scheme, support sepc256k1 and sr25519, compatible with bitcoin network and proxy.
2）Implementation of Musig2sepc256k1 rust external call interface, and packaged into Android, iOS and js three platforms API.
3）Implementation of Musig2sr25519 rust external call interface, and packaged into Android, iOS and js three platform api.
MinixChain
MiniXChain is an open consortium chain based on the Substrate framework and adopting the aura + grandpa consensus. It will eventually be derived into a Parachain of ChainX through the Spider cross-chain protocol. MiniXChain will support the launch of applications such as DID/NFT. ComingChat will be the first use case to deploy its decentralized digital identity CID and NFT applications to the MinixChain alliance chain, using Mini points as a fee.
Minix Chain Development Progress:
1) Subject dependency migrated to polkadot — v0.9.11
2) Integrated threshold signature function pallet-threshold-signature
3) Construction of Minix EVM Test Network
SherpaX
SherpaX is highly similar to ChainX in design, and is the pioneer network of ChainX, with the characteristics of experimentation, authenticity, and independent existence.
Some new technological innovations and attempts will be pre-experimented on SherpaX (such as frontier-evm).
SherpaX development progress:
This month is participating in the third Kusama slot auction.
Development Progress:
1) Subject dependency migrated to polkadot v0.9.11
2) Re-registering parachain data on Kusama
3) Adapt frontier to polkadot v0.9.11
About ChainX
ChainX will become the largest Bitcoin Layer 2 Network in the world. The first Substrate blockchain to go live will provide Polkadot with the most valuable digital assets on the market. Committed to realizing trustless and decentralized bridges for Bitcoin and other assets, it forms an inter-blockchain asset gateway, pathing the way for a truly interoperable network of blockchains.
Website | Github | Wallet | Twitter | Medium | Telegram | White paper
