MarbleChain, a promising project in the BTC Layer2 space, is making waves with its innovative solutions to longstanding issues in the blockchain ecosystem. This article provides an in-depth look at MarbleChain's unique features, technological advancements, and the problems it aims to solve.
MarbleChain's Official Channels:
- X/Twitte: https://x.com/MarbleLayer2
- Website: marblechain.ai
- Whitepaper: https://marblechain.gitbook.io/marble-whitepaper
Key Features of MarbleChain:
- Historical Projection to Enhance Security of Marble Layer2
- Using Light Node Contracts to Verify the Security of Bitcoin Transactions
- Using Elections and Threshold Signature Technology
- Innovates MetaMorphosis and RLAOT Launchpad to Provide Liquidity and Evolutionary Value for Cross-chain Assets
Problems Solved by MarbleChain:
1. Secure and Fast Decentralized Cross-Chain Transactions:
Traditional multi-signature and MPC multi-signature solutions tend to shift the centralization from a single individual to a small group, which doesn't achieve true decentralization for cross-chain transactions and introduces security risks. MarbleChain tackles these challenges through several innovative methods:
1.1 Historical Projection Technology:
- Immutable Historical Data: By compressing all historical transactions and the current on-chain state into a hash value recorded in Bitcoin blocks, Marble Layer2 ensures the immutability of historical data. This method leverages Bitcoin's blockchain to enhance security and reliability.
- Real-Time Verification: Since the hash value contains all current information on Marble Layer2, Bitcoin users can verify any event on Marble Layer2 at any time using this hash. This transparency and verifiability are crucial for protecting users from fraud and errors.
- Prevention of Long-Term Attacks: The hash value can also prove that any transaction containing this information must occur after the projection, effectively preventing long-term attacks in Proof-of-Work (PoW) systems.
1.2 Light Node Contracts for Bitcoin Transaction Security:
- Real-Time Data Validation: Light node contracts can verify Bitcoin network data through mechanisms like difficulty checks and longest chain consensus, ensuring real-time consistency with the Bitcoin network and low latency.
- Enhanced Cross-Chain Interaction: All Bitcoin blocks confirmed by light nodes are recorded in contract states, allowing cross-chain or synchronized transactions to be verified through Simplified Payment Verification (SPV) methods, ensuring transaction authenticity.
1.3 Election and Threshold Signature Technology:
- Enhanced Security and Decentralization: By adopting Byzantine Fault Tolerance (BFT) consensus mechanisms and threshold signature technology, Marble Layer2 ensures network security and decentralization, allowing the network to resist single points of failure and malicious attacks.
- Community-Driven Node Elections: Users holding Marble Layer2 governance tokens can stake to gain voting rights and participate in node elections, ensuring network operations are community-driven, increasing transparency and fairness.
- Secure Transfer of Assets and Information: At the end of each election cycle, the new consensus committee securely transfers locked assets and historical data using threshold signature technology, ensuring continuity and security of on-chain assets and information.
- Accountability and Incentive Mechanisms: Nodes must stake BTC or Marble tokens to prevent malicious behavior, with penalties for misbehavior. This mechanism incentivizes node operators to maintain integrity and high standards of conduct.
2.Higher Value and Better Liquidity:
Marble Labs has introduced the innovative ERC-1520 token standard, a semi-fungible convertible token standard. ERC-1520 defines a new asset class, Semi-Converted Fungible Token (SCFT), allowing different ERC-1155 NFTs to be converted using ERC-20 as a medium under the same ticker.
A comparison of ERC-1520 with other BTC Layer2 EVM cross-chain asset solutions:
- Cross-Chain to ERC-20: Inscription on the Bitcoin chain is traded similarly to NFTs. Most inscription assets are low-liquidity, maintaining relatively high prices due to their rarity. When converted to ERC-20 on Layer2, retail investors lack incentives to add liquidity pools, and major players avoid adding liquidity pools to prevent price drops, making cross-chain to ERC-20 less effective.
- Cross-Chain to ERC-721: Converting to NFTs retains the inscription's trading form. However, the content of NFTs is limited by the inscription itself, lacking extensibility. Aside from saving some gas fees, cross-chain assets still lack liquidity, not solving the problem.
- Cross-Chain to ERC-1520: MarbleChain supports converting assets to ERC-1520 during cross-chain transactions. Holders can keep assets as ERC-20 tokens or lock a certain amount of ERC-20 to exchange for an equivalentamount of ERC-1155 tokens, enabling split trading. If holders find the ERC-1155 tokens lacking liquidity or value growth, they can convert them back to the same amount of ERC-20 tokens or stake them to issue new ERC-1520 tokens. This mechanism ensures that cross-chain assets or staked reissued assets can add liquidity pools as ERC-20 tokens, providing a base value, while also enabling content creation and split trading as NFTs, continuously evolving to enhance asset playability and liquidity. The value of new assets increases while indirectly locking old assets, bringing soft lock-in value to old assets and enhancing the value of the entire asset evolution chain.
Additionally, the RLAOT Launchpad uses algorithms to allow users to invest a certain amount of illiquid assets to reissue old tokens. For instance, users can stake as little as 1% of an asset to issue new tokens. Upon meeting the conditions for successful issuance, users receive BTC equivalent to the value of their staked assets, losing ownership of the old assets. The newly issued assets will have a portion of Bitcoin to build a liquidity pool, ensuring real liquidity for trading. If the new assets adopt the ERC-1520 standard, users can lock a certain amount of ERC-20 assets and evolve them for trading, as described above. If users find the new assets lacking value, they can sell them in the liquidity pool for BTC or convert them back to the staked old assets at the issuance ratio, providing a value floor.
In summary, MarbleChain addresses BTC Layer2's security issues through innovative technical solutions and solves asset appreciation and liquidity problems for Bitcoin asset holders with new asset forms and original issuance algorithms. By meeting the actual needs of the BTC ecosystem, MarbleChain is poised to break the current impasse of BTC Layer2's limited utility, bringing fresh vitality to the further prosperity of the BTC ecosystem.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: Marble Chain
Contact Person: Dony
Email: Send Email
Country: Singapore
Website: https://marblechain.ai/home
