CommerceBlock, a sidechain codebase based on the Bitcoin protocol for the distribution, exchange, and storage of tokenized assets and securities, today announced the release of the first operational demo version of Mercury, CommerceBlock’s statechain implementation and privacy wallet.

The implementation of the statechain protocol backend and API, along with CommerceBlock’s secure key management infrastructure (based on Intel SGX) is complete and the team is now turning its attention to finalizing two crucial elements of the full system: the multi-platform end-user wallet interface and securing of the statechain entity on physical hardware.

The Mercury statechain system is a new second layer technology for Bitcoin that enables instant off-chain BTC transactions without the capital lock-up and liquidity problems of the Lightning network, and without the custodial issues of pegged federated sidechains.

This release demonstrates the overall user interface, and includes the ability to deposit test bitcoins, transfer a coin to another statecoin address, and withdraw back to the Bitcoin blockchain. At this stage the test bitcoins are hardcoded into the wallet, however, the full protocol and key operations involved in deposits, transfers, and withdrawals are operating with the statechain entity Mercury server.

“In the next few weeks, the test environment will be connected to the public Bitcoin test network and coin swap functionality will be included. We will also start a bug bounty program for individuals who are keen to get involved with testing.”
– The CommerceBlock Team

Check out GitHub to download versions for Windows, Mac, and Linux, and explore the wallet functionality and features.

CryptoNinjas » Wallet app for CommerceBlock’s Bitcoin sidechain now operational