Bitcoin's ecology has been forgotten for a long time. Especially when Magic Eden, once the largest Bitcoin eco-trading market, stopped supporting Bitcoin ecology and stopped the services of MagicEden Wallet, it gave the long-neglected player a sense that the Bitcoin ecology was over。

But not only are these old bitcoin eco-buildings like UniSat and Xverse still plowing, but also after Magic Eden, markets like SatFlow and Ord.net fill the gap. More recently, the emergence of a new Bitcoin asset agreement has brought the Bitcoin ecology into the public eye。

This new deal, called Tacit。

What's Tacit

First of all, we're going to classify Tacit as a "meta-agreement" type like BRC-20, Runes, which are all indexed for asset recognition. If anything different, Tacit 's index is directly in the user 's browser and does not need to trust any centralised server (indexer). A consistent balance result can be achieved only if two computers operate the same code and look at the same bitcoin block data。

Tacit is unique in that it is a new Bitcoin asset agreement that plays "privileged" and many of the players, when promoting this new agreement, use terms like "ZEC on Bitcoin" as a direct analogy. This is reasonable and not entirely correct, because Tacit can hide amounts that are only for tokens (including the total supply amount specified at the time of deployment of the new currency and the specific amount of each transfer) and not the address chart on the chain。

In other words, Tacit hides the amount of money that flows, but does not hide the direction of money。

Despite this, it is still a home-grown privacy asset agreement for Bitcoin owners. Here we're going to use simple metaphors to explain how it did it on the Bitcoin main network。

An ordinary bitcoin transaction is like a transparent book of accounts in which everyone can see a transaction and how much money it involves. Tacit is the equivalent of putting a trade in a "black box" (Pedersen promise)。

You can still see the deal. I can't see the amount of this deal, but you can prove to everyone that "the money I put in, plus the money I put out, is right."。

Pedersen promised to hide the amount of the transaction with Bulletproof, and at the same time to prove to the entire network that you did not fabricate the coin (such as proving that the amount you transferred was not negative and that the total amount remained constant)。

The Mimblewimble-style signature proves that the amount transferred is equal to the amount transferred and ensures that the token is not inadvertently increased。

WHEN THE SENDER TRANSFERS THE TOKEN TO THE RECIPIENT, THE AMOUNT INFORMATION IS ENCRYPTED BY ECDH ON THE BLOCK CHAIN. ONLY THE SENDER AND THE RECEIVER CAN DECRYPT THE TRUE AMOUNT WITH THEIR OWN PRIVATE KEY, AND OTHERS SEE THE DATA AS JUST A BUNCH OF RANDOM NUMBERS。

Finally, the indexer embedded in the dApp (user browser) will read the data on the Bitcoin chain, authenticate the above-mentioned password certificate and calculate your real balance。

From May 7 to date, the developer roses.wei (@z0r0zzz) has been up to date, and now Tacit has supported public casting (fair launch), has a market, supports a token Swap and has a blender。

It's kind of like Tornado Cash, the more people there are, the more secret (the harder it is to determine the address in the pool). However, Tacit's Mixer does not rely on smart contracts, it places a deposit certificate in the Taproot transaction notes, and the withdrawal of a zero-knowledge certificate is handled by an indexer in the browser。

It's even a little stronger than Tornado Cash in some ways, because Tornado Cash can't hide the amount of the money. However, Tacit ' s Mixer does not mix the original bitcoin, as concealing the amount of the Mixingcoin itself requires a pre-comparison seal。

Of course, privacy has costs. According to Github, the cost of the transfer corresponds to the main network rate of about 10 sat/vB, which means about 25,000-30,000 sat per transfer, or about 10 times the cost of Runes (in characters)。

Who did it, Tacit

The developer roses.wei (@z0r0zzz) is a relatively well-known developer on the Ether House. He has developed ZAMM, which can significantly improve the gas efficiency and user experience by offering a single contract for the creation of new tokens, the management of LP, Farming and Swap。

In the past, $ZAMM has also been a project of too high visibility, with a market value of tens of millions of dollars and encrypted KOL Ansem。

Tacit wasn't something that came out of his mind. He was interested in bitcoin technology for some time. This new agreement was also brought to the attention of Messari Enterprise Research Manager @AvgJoesChrypto。

In the future, the author also plans to achieve privacy seals (cBTCs) for the original Bitcoin, silent receptions (a single new address is created for each transfer) and the concealment of the currency of transfer。

Relevant target

THE MOST TRADED IN THE MARKET IS CURRENTLY $TAC, WHICH WAS PERSONALLY DEPLOYED BY THE CONTRACT AUTHOR AND DROPPED IN THE RECENT PAST ON THE BASIS OF THE HOLDING OF $ZAMM PLEDGE TOKEN $ZORG AT THE ETHER WORKSHOP。

The first fair launch is in US$ FAIR, but the market has not opened the transaction。

Concluding remarks

This is indeed an innovative Bitcoin asset agreement. It has achieved monetary privacy and is planned to achieve more than the BRC-20, the symbol. Compared to RGB, Taproot Assets and Liquid CT, it does not go below the chain to prove it, nor does it exist in the form of a side chain, running through the chain with data。

The concealment of the address chart on the chain is also covered by the amalgamation of its own protocol parts。

Although the cost of use would be relatively high, it was indeed a long-term ecological and bright innovation for Bitcoin。