Cardano (ADA) has recently announced important progress in its scaling solution, Mithril, with the release of a research paper titled “Mithril 2.” This paper highlights the concrete results of the project’s efforts. Launched on the Cardano mainnet in July, Mithril has introduced innovative cryptographic techniques to prove knowledge of a large dataset without revealing the dataset entirely.
Romain Pellerin, the Chief Technical Officer of the research company Input Output Global (IOG), summarized the key points covered in the Mithril 2 paper. Pellerin explained that the paper introduces a technique called “Approximate Lower Bound Arguments” (ALBAs), which allows individuals to prove ownership of a large dataset without exposing the entire record. This approach is particularly useful in cases where individuals need to demonstrate possession of multiple digital signatures from different people without revealing each signature.
The core idea behind ALBAs is that the prover only reveals a selectively chosen small dataset sample. This prevents cheating by making it unlikely that the sample could be constructed if the real dataset is small. Conversely, if the real dataset is large, at least one such sample probably exists. The Telescope technique introduced in the paper enables the efficient recursive construction of the sample.
The Mithril 2 paper also addresses situations where the dataset is distributed among multiple parties who collectively generate the proof. It demonstrates how ALBAs can be used for straight-line witness extraction in succinct, non-interactive arguments of knowledge (SNARKs). By utilizing ALBAs instead of custom constructions, the workload of the prover can be reduced, resulting in shorter proofs when extracting witnesses from SNARKs.
Cardano Founder Charles Hoskinson expressed his pride in the Mithril 2 paper through X (previously known as Twitter). He stated, “Mithril 2 is out. I’m very proud of this paper. It’s damn fine work.” The Cardano community eagerly awaits the implementation of these new cryptographic techniques as they demonstrate the project’s commitment to advancing the scalability and privacy of the Cardano blockchain.
On the financial side, Cardano’s native token, ADA, has experienced significant gains over the past 30 days. Currently trading at $0.2910, ADA has witnessed an 18% increase in value over the past two weeks. Notably, ADA ended the month of October above the crucial $0.300 level, breaking its four-month downtrend structure. It remains to be seen if upcoming positive developments within the Cardano ecosystem will drive ADA to new highs in 2023 and maintain its competitive position among the top 10 cryptocurrencies in the market.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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