MetaTxID

MetaTXID is a brand new transaction identification number generation method

INTRODUCTION

MVC adopts a brand-new transaction identification number generation method "MetaTxID," which is also the underlying core of MVC different from other UTXO public chains.

MetaTXID is a kind of special transaction identification number obtained by adopting a layered hash calculation method in the process of uploading transaction data. The calculation method adopted can perform layered hash calculation on the data fields in the transaction data without changing the original transaction data set and its transmission format, so that transaction data at different levels can be tailored without affecting hash verification of other parts of the transaction data, even if the hash value of the clipped data and other unpruned data can still be used to calculate the transaction identification number. The same tailorable data in multiple transactions can be shared based on the same hash pointer, realizing the multiplexing of the data during storage and transmission, and improving the efficiency of data storage and transmission.

SIGNIFICANCE

In the existing blockchain technology, the main data in the transaction is hashed as a whole to obtain the transaction identification number TXID. When the node needs to use hash calculation to verify the authenticity of the part of a transaction data, it must receive other redundant data at the same time, which increases the storage, transmission and secondary utilization costs of transaction data, and increases unnecessary user burden.

In order to solve the defect of inefficient reuse of data in transactions in blockchain technology, the MetaTXID scheme proposes a chain-up method that can layer-cut transaction data in the field of blockchain and distributed ledger technology. In particular, when the MetaTXID transaction identification number is applied to the UTXO smart contract, the contract can cut out other irrelevant data when verifying part of the target data in the historical transaction, thus greatly reducing the amount of data required for contract verification, thereby achieving functions such as lightweight data traceability, that is, a layer of smart contract functions implemented in the UTXO model.