MT side chain technical architecture

The purpose of trimming block transaction information is to save storage space. In the Bitcoin white paper, a method of reclaiming hard disk space is described, that is, deleting all transactions in the block except the last transaction. Without reclaiming hard disk space, all transactions are stored in the block. Satoshi Nakamoto clearly stated in the Bitcoin white paper that “most of the data in the previous block can be deleted and only the block header data is retained” to streamline the current increasing block data. This processing method not only retains the complete block information, but also reduces the space occupation without affecting the data verification ability. The MimbleWimble protocol only requires about 10% of the data storage requirements of the Bitcoin network. This makes MimbleWimble highly scalable, which is used to store blockchains with faster speed and lower concentration.The important feature of MimbleWimble regarding scalability is “Cut-Through”. In general, a single block contains hundreds of transactions and other large amounts of information that need to be stored in the blockchain. However, these blocks can be compressed using MimbleWimble’s Cut-Through function to delete most of the information from the block without the risk of blockchain security.

Bitcoin currently has nearly 400 million transactions, but there are only about 60 million outputs in UTXO. If new users want to join the Bitcoin network, they must know all the past 200+GB mining history before they can verify the latest block. If the Mimblewimble method is applied, the transaction history of the blockchain will be discarded, leaving only about 25GB of historical transaction kernel, so the complexity of processing data will be greatly reduced. Of course, Mimblewimble’s UTXO needs to be accompanied by a proof of range for each output. This is an additional burden, but this burden is only related to the size of the UTXO, not the time the entire chain has been running. In addition, after adopting the new technology, the size and verification efficiency of the scope proof have been greatly improved.

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Metcalfe Chain(MTC) is a new generation of intelligent traffic application aggregation public chain.

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MetcalfeChain

MetcalfeChain

Metcalfe Chain(MTC) is a new generation of intelligent traffic application aggregation public chain.

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