I believe everyone knows about CKB. Everyone knows that CKB is a public chain of the Bitcoin network and one of the leading currencies in the Hong Kong 🇭🇰 concept.
After reading this article, you will find that you actually never understood the real CKB.
Before we begin, let’s imagine a payment network: no permission is required to open an account, no national boundaries, support for various stablecoins, transfers of even a dime, handling fees of 30,000 yuan, and P2P programmable online payments. What changes can such a network bring?
Next, I will analyze Nervos Network around the core points such as JoyID, Fiber Network and RGB++.
🥇What is Nervos Network?
Nervos CKB is a public chain based on the PoW + UTXO model, which is completely isomorphic to BTC and aims to provide cross-chain interoperability and scalability support for the Bitcoin ecosystem.
CKB enhances Bitcoin's programmability and interoperability through the RGB++ protocol, mapping Bitcoin UTXO to CKB Cell, thereby enabling smart contract functionality and bridgeless cross-chain based on Bitcoin L1 UTXO assets. CKB expands Bitcoin through the Fiber Network and promotes the circulation of multiple assets within the Bitcoin Lightning ecosystem. CKB accelerates the mass adoption of the Lightning Network through the UTXO Stack, providing better liquidity and revenue models through a decentralized staking protocol. 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.
🥈CKB helps BTCFI move towards WEB5.0
CKB’s uniqueness and technical advantages as a Layer 2 extension of Bitcoin, including the security and transparency brought by its PoW + UTXO combination. At the same time, we can discuss how the RGB++ protocol supports the issuance and circulation of multiple assets, strengthens cross-chain interoperability, and breaks the traditional barriers to asset issuance and cross-chain circulation.
RGB++: Innovative Financial Protocol in BTCFi
RGB++ realizes bridgeless cross-chain of Bitcoin assets and its innovative applications in the BTCFi ecosystem, such as the Initial Bitcoin Offering (IBO) model, bringing more financial products and user experience to BTCFi.
Stable++, the #UTXO-based overcollateralized stablecoin protocol, is now available on CKB mainnet
Stable++ is the first over-collateralized stablecoin protocol developed based on CKB to serve the Bitcoin ecosystem and the #RGB++ ecosystem
The protocol supports#BTCand CKB as collateral, and generates the first RGB++ stablecoin#RUSDthrough the protocol
In the future, Stable++ will also support CKB Lightning Network and will be deployed on BTC#Layer2issued by UTXO #Stack
By then, through the#Leapfunction of the RGB++ protocol, RUSD will be able to circulate freely in the Bitcoin ecosystem
JoyID + Lightning Network: Passkey Wallet Leads a New Decentralized Payment Experience
As the first Passkey wallet to support the Lightning Network, how does JoyID create a more efficient and convenient decentralized Bitcoin payment experience? Share your experience on the test network and imagine its application prospects in the BTCFi ecosystem, especially its potential in scenarios such as small payments and cross-border remittances.
Fiber Network: The future of cross-chain circulation
How will Fiber Network improve the liquidity and scalability of the BTCFi ecosystem, enhance the stability and availability of the decentralized financial network, and promote the seamless cross-chain flow of BTCFi assets? It is not easy to achieve Bitcoin expansion, and major projects adopt different paths. In this process, we can see:
Lightning Network, a long-established Bitcoin scalability solution known for its “legitimacy”, has been given new life;
We also observed that CKB proposed RGB++ based on RGB extension, which brought more innovative narratives;
At the same time, various side chains and L2s are competing with each other. Some directly borrow from Ethereum solutions, while others deeply study the improved solutions of Bitcoin's own characteristics.
Do you understand? This is a complete CKB public chain ecosystem.
The use of Lightning Network + Quick Payment + BTCFI is the general trend of future development, and it is also the key layout direction of CKB!
🥉Finally, let me talk about my opinion on CKB price
The ecological development of CKB cannot be underestimated. The current price of CKB is around 0.012. The long-term market outlook is promising, so you can hold on to it with confidence.
