With the continued heat of the Bitcoin ecosystem, the Bitcoin L2 track has become the focus of attention. Here, we provide an in-depth analysis of Nervos CKB.
Nervos CKB is a public chain based on the PoW + UTXO model, aimed at providing cross-chain interoperability and scalability support for the Bitcoin ecosystem. Since the launch of the RGB++ protocol this year, transaction activity on the CKB network has become active again, with nearly 400,000 new addresses added in April, a 181% increase compared to March. Its price once skyrocketed tenfold; although it has since pulled back, it still holds value, and the current price is around 0.012.
So what is the RGB++ protocol?
Nervos has expanded the usability of Bitcoin through RGB++. RGB++ is an asset issuance protocol based on the original RGB protocol, aimed at positioning CKB as the execution layer and data availability layer for Bitcoin. CKB retains the Bitcoin UTXO model while introducing the Cell model. This initiative not only inherits the transaction purity of UTXO but also expands the application scope of the UTXO model by increasing the persistent storage of data state. Through the RGB++ solution, CKB has successfully shifted the communication and coordination process of off-chain client validation nodes on-chain, solving the problem of off-chain client validation in the BTC ecosystem.
@CKB Eco Fund The project started in 2018 and completed its financing. Unlike most projects from the same period, where some have dissolved or are in a state of inactivity, the CKB team has been continuously working to update the product. Currently,$CKB the total supply is 45.7 billion, with a circulation of 45 billion, almost fully circulated, eliminating concerns about unlocking and dumping risks, and the current market value is 540 million.
Against the backdrop of a Bitcoin bull market, the Bitcoin ecosystem has attracted much attention, with the L2 track being particularly prominent. As a public chain, Nervos CKB has shown significant price increases after launching the RGB++ protocol, although it has since pulled back, it still demonstrates certain potential. Its team continues to work hard to update the product, and with a large circulation and stable market value, it provides retail investors with a possible investment choice in the Bitcoin bull market.
