The dust has settled on the US presidential election, with Trump winning.
BTC hits a new all-time high again.$BTC With prices breaking above $76,400, the crypto market is set to see one of the most BTC-friendly administrations yet.
BTC price hits record high,#BTCfi What is BTCFi and how can you earn money from it?
What is BTCFi?
BTCFi, or Bitcoin Finance, refers to the trend and phenomenon of closely integrating Bitcoin with traditional financial markets through innovative financial tools and services.
BTCFi is not only a digital currency and payment tool, but has also evolved into a financial asset in the global financial market.
Bitcoin lending, staking, contracts and other derivatives, as well as financial products such as ETFs (Exchange Traded Funds), futures and options, allow Bitcoin to circulate among traditional investors and institutions, allowing BTC to occupy a place in the global financial market.
The BTCFi market size reached approximately US$10 billion in 2023, and it is expected that the BTCFi market value will reach US$1.2 trillion by 2030.
As the scale and market value of BTCFi continue to rise, how can ordinary users seize the opportunities in the BTC ecosystem and gain more benefits?
for example #CKB助力比特币生态 , making it easier for ordinary users to participate in the BTC ecosystem and gain additional benefits.
What is Nervos CKB?
#Nervos CKB is a public chain based on the PoW (Proof-of-Work) + UTXO (Unspent Transaction Output) model.
Isomorphic to BTC, it aims to provide cross-chain interoperability and scalability support for the Bitcoin ecosystem.
CKB enhances the programmability and interoperability of Bitcoin through the RGB++ protocol, mapping Bitcoin UTXO to CKB Cell, thereby realizing smart contract functions and bridgeless cross-chain based on Bitcoin Layer1 UTXO assets.
CKB expands Bitcoin through Fiber Network and promotes the circulation of multiple assets within the Bitcoin Lightning ecosystem;
Accelerate the mass adoption of the Lightning Network through UTXO Stack, providing better liquidity and yield models through decentralized staking protocols.
The CKB mainnet was launched in November 2019 and completed its first mining output halving in November 2023.
With JoyID supporting the Lightning Network testnet, CKB will further enhance the decentralized payment experience. The Fiber Network will also be launched on the mainnet soon, bringing new breakthroughs to multi-asset circulation and cross-chain efficiency, and truly realizing the decentralized expansion of the Bitcoin ecosystem.
How does Nervos CKB help the development of the Bitcoin ecosystem?
The most significant feature of the Bitcoin network is decentralization, which achieves consensus through widely distributed miner nodes, avoiding single points of failure and reliance on central institutions.
Each transaction requires confirmation from multiple nodes in the network, ensuring that the data cannot be tampered with and the network is highly secure.
But the limitation of scalability is currently the biggest problem of the Bitcoin network.
Bitcoin can only process about 7 transactions per second (TPS), far lower than traditional payment systems such as Visa, which can process thousands of transactions per second.
Due to scalability limitations, Bitcoin is restricted in payment scenarios and does not have the complete smart contract functions of public chains such as ETH and SOL.
①PoW + UTXO combination
As the Layer 1 blockchain of Nervos Network, CKB uses the PoW consensus mechanism and inherits the security and decentralization characteristics of Bitcoin.
Compared to other Layer 2 solutions, CKB can provide security and censorship resistance similar to the Bitcoin main chain.
Bitcoin was originally designed to store and transfer value as a "digital gold", but it is not efficient in data storage.
The Bitcoin network is mainly focused on processing transactions and asset transfers, and it is difficult to meet the needs of complex smart contracts or decentralized applications.
CKB can serve as a universal storage platform, providing programmability and more flexible storage solutions for Bitcoin expansion.
②Cross-chain interoperability
CKB supports the asset transfer and interaction between Bitcoin and other blockchains (such as Ethereum, Polkadot, etc.) through its cross-chain protocol, achieving liquidity and interoperability between Bitcoin and other chains.
Through the CKB cross-chain protocol, Bitcoin can seamlessly connect and transfer assets with other blockchains through bridging technology, providing Bitcoin with cross-chain capabilities and enhancing Bitcoin application scenarios.
Using CKB's smart contract platform, developers can write more complex smart contracts and build decentralized applications on CKB.
With the support of CKB, BTC can run more innovative financial and non-financial applications, improving the ecology and functionality of Bitcoin.
CKB provides programmability, smart contract functionality, cross-chain capabilities, and scalability that Bitcoin lacks, while still maintaining Bitcoin’s core features such as security, decentralization, and long-term sustainability.
Through Layer 2 expansion, CKB promotes the development of the Bitcoin ecosystem, provides more abundant application scenarios for Bitcoin, and enhances Bitcoin's position in the blockchain ecosystem.
As the BTC ecosystem receives more attention, more BTC ecosystem projects will also receive attention and may also see better performance.
at present $CKB It is 0.013 US dollars. I wonder if there is a chance to achieve a 10-fold return in the next bull market?
The price of Bitcoin continues to rise, setting a new all-time high, and there are more and more narratives and application developments surrounding the BTC ecosystem.
Bitcoin is making history, and the Bitcoin ecosystem is continuing to be enriched and developed. The market needs more Bitcoin applications, and we also look forward to an increasingly rich Bitcoin ecosystem and applications.
I am Chu Xiaolian, let’s pay attention to the crypto market.