Cardano Reveals Key Details About Mithril 2 Update

Cardano (ADA) recently unveiled a significant update related to its scaling solution, Mithril. The project has presented a research paper named Mithril 2, outlining the tangible outcomes of their efforts.

Introduced on the Cardano mainnet in July, Mithril has now introduced what the developers refer to as innovative cryptographic methods to validate knowledge of a substantial dataset without fully disclosing the contents of the dataset.

Understanding Mithril 2

Romain Pellerin, the Chief Technical Officer of the research company Input Output Global (IOG), summarized the key points featured in the Mithril 2 document. The CTO clarified that the paper introduces a technique called Approximate Lower Bound Arguments (ALBAs), which aim to enable individuals to confirm ownership of a large dataset without revealing the entirety of it.

This approach proves valuable in scenarios where demonstrating possession of multiple digital signatures by different individuals is needed without disclosing each signature. The fundamental concept behind ALBAs is that the prover only discloses a carefully selected small dataset sample. This approach minimizes the potential for cheating by making it improbable to create such a sample if the actual dataset is small.

Conversely, if the real dataset is extensive, there is likely to be at least one such sample, which ensures the success of an honest prover. The Telescope technique, as outlined in the paper, facilitates the efficient recursive generation of the sample.

Cardano looking to impress

Mithril 2 also addresses situations where the dataset is divided among multiple parties who collectively create the proof. It demonstrates how ALBAs can be applied to extract witnesses efficiently in SNARKs (Succinct, Non-interactive Arguments of Knowledge). Using ALBAs instead of custom constructions reduces the workload for the prover, resulting in shorter proofs when extracting witnesses via SNARKs.

In any case, the Cardano community eagerly anticipates the implementation of these innovative cryptographic techniques, which underscore the dedication of the project toward enhancing the overall scalability and privacy of the Cardano blockchain.

It remains to be seen whether upcoming positive developments within the Cardano ecosystem will have the potential to propel ADA to new highs in 2023 and beyond as well as maintain its competitive standing among the top 10 cryptocurrencies in the market.