MathChain: SmartWallet AppChain based on Substrate

Version: v2.0.0

Keywords: Substrate, SerectStore, EVM, SmartWallet, DappStore, DataStore


MathChain is a SmartWallet AppChain based on Substrate for massive adoption, go-to-market and inclusive blockchain applications.

To reach this goal, we saw problems in below 4 areas at the current stage:

  1. Security Cost The annual cost of securing major chains (e.g. Cosmos, Tezos and EOS) is in the tens of millions of USD per year, with Ethereum and Bitcoin in the billions.

  2. Performance If we need a permissionless environment like Ethereum, we need to endure 12 TPS and very high gas fee.

  3. Privacy The distributed aspect of a blockchain means that each full node that processes transactions and builds the blockchain necessarily has access to the blockchain transaction data itself. In a cryptocurrency like bitcoin, this means that the blockchain is publicly available and every transaction can be traced back to the first genesis block.

  4. Account

    We need evolution of crypto wallet so that it is not for whales store crypto only, but for more and more users to use them in daily life.

Because these problems, we saw more off-chain & centralized system instead of on-chain system when the application need better user experience.

We believe the future of blockchain is for massive adoption. And for MathChain, here are the solutions:

  1. Share Security Leverage the polkadot share security mechanism, the cost of security in MathChain would be a full three to five orders of magnitude less, and yet would provide fast, arbitrary, trust-free message passing between the host chains, a revolutionary addition. And most important, being connect MathChain to the Polkadot Relay Chain, and obtain the same security as the Polkadot Relay Chain, thus ensuring the safety of assets on MathChain.
  2. Parachain The underlying mechanisms of Substrate and Polkadot can provide sufficient transaction speed and low cost. MathChain will implement fee market, which is a method to have more predictable transaction fees.
  3. SecretStore The SecretStore module on MathChain which makes even more private all the information you want to send to someone. It can be leveraged by both an on-chain transaction or a off-chain Filecoin storage request.
  4. Smart Wallet Combine SecretStore, Off-chain Worker and DID together, MathChain is able to build the universal interchain accounts with easily recover without a paper backup. It will bring user's web 2.0 social media account relation to web 3.0. It will not only store assets but data as well.

The goal is to provide account / performance / infrastructure readiness and allows web 2.0 platforms can be easily connected to the web 3.0 eco-system without scarifying user experience.