Currently, the CKB is undoubtedly doing quite well in the BTC ecosystem, with its value far exceeding inscriptions and runes. It has profound insights into the development of BTC, aligning closely with BTC's basic infrastructure, and assists in the development of the BTC ecosystem.
CKB as an ideal L2 for Bitcoin
CKB is a foundational public chain based on the Pow and UTXO model, with a basic architecture similar to BTC, providing cross-chain interoperability and expansion support for the Bitcoin ecosystem, making it one of the strongest BTC public chains currently.
CKB strengthens the programmability and interoperability of BTC through the RGB++ protocol by mapping BTC's UTXO into CKB Cells, thereby realizing the functionality of smart contracts and bridge-less cross-chain for BTC L1 assets. It is committed to promoting innovation and expansion in the BTCFi ecosystem. Currently, CKB is expanding BTC through Fiber Network, facilitating asset circulation on the Bitcoin Lightning Network, which has been widely adopted. With JoyID supporting the Lightning Network testnet, the decentralized payment experience of CKB is further enhanced, while the launch of Fiber Network brings new breakthroughs for multi-asset circulation and cross-chain, truly achieving the decentralized expansion of the BTC ecosystem.
RGB++: An innovative new financial protocol in BTC
The RGB++ protocol is an important support for CKB to achieve multi-asset circulation. Unlike traditional cross-chain methods, the RGB++ protocol allows for bridge-less cross-chain, reducing the security risks of cross-chain and injecting new vitality into the BTCFi ecosystem, bringing more financial products.
Through the RGB++ protocol, stablecoins can be issued on the Bitcoin blockchain network and circulated for payments on chains like Fiber Network and the Lightning Network, greatly enhancing asset utilization. This multi-asset cross-chain solution is not only applicable to Bitcoin assets but also supports more innovative assets, bringing broad prospects for the development of the BTC ecosystem.
JoyID + Lightning Network: Passkey wallet introduces a decentralized payment experience
JoyID is the world's first Passkey wallet supporting the Lightning Network, bringing a more convenient experience to decentralized payments. Through the Passkey wallet, users do not need a mnemonic phrase and can safely access wallet assets. Additionally, the small payments on the Lightning Network are faster and have lower costs, simplifying the payment process for small assets. With current developments, JoyID is expected to become a mainstream payment tool in the BTCFi ecosystem, showcasing broad application scenarios in small and cross-border payments.
Fiber NetWork: The future vision of cross-chain circulation
FiberNetWork provides a friendly environment that simplifies the creation of decentralized smart contracts, supporting mainstream programming languages and frameworks, and the community has a wealth of programming resources and guides, significantly reducing the difficulty of smart contract development.
Fiber Network provides cross-chain support for CKB, allowing multiple assets to circulate freely within the BTCFi ecosystem without bridges, significantly enhancing the liquidity and scalability of BTCFi assets, thereby offering users a wide range of financial investment options.
Summary
Through JoyID, RGB++, the Lightning Network, Fiber Network, and others, the development of CKB injects new vitality into the BTCFi ecosystem. By providing support for Bitcoin L2 with a scalable layer-1 blockchain, since the launch of the RGB++ protocol on the CKB mainnet, trading activity of CKB has also become more frequent, with over 400,000 new addresses added. The integration of the payment network into the Lightning Network is underway, which will make CKB more attractive and applicable to various blockchain applications.
Another point of concern for everyone is the price of CKB. Compared to other public chains, CKB's market value is only over 100 million dollars. As the leading L2 project for BTC, it is obviously undervalued. Currently, CKB's price is around 0.011 dollars, which is a strong support level. If it does not break below this level, it is about to take off.
