$CKB is currently one of the most anticipated Bitcoin Layer 2 projects.
The project was launched in November 2019, adopting a PoW consensus mechanism and UTXO model, highly isomorphic with Bitcoin. With the Axon framework, CKB can achieve "one-click chain issuance," offering significant advantages in the Bitcoin Layer 2, especially in the sidechain field.
In terms of security, CKB uses the same PoW consensus mechanism as Bitcoin, ensuring decentralization and censorship resistance. Its self-developed Eaglesong algorithm has successfully transitioned to ASIC mining, with current computing power of about 158 PH/s, and has smoothly experienced its first halving.
In terms of expanded programming capabilities, CKB has improved the UTXO model, forming a model called Cell. Cells not only possess the security features of UTXO but also add LockScript and TypeScript for custom functionalities, enabling smart contract capabilities and even supporting Covenant features not available in Bitcoin.
The design of Cells maintains the simplicity and security of Bitcoin while bringing richer programming flexibility.
