As mentioned in previous articles, Bitcoin has already digested negative expectations ahead of time, and it is certain to surge in the future! At this moment, Bitcoin has reached a new high of 75,000, witnessing history! The price of Bitcoin has surged by 10 points in a day! Among them, the Bitcoin ecosystem CKB may be a hundred-fold potential coin in this bull market. Let me introduce it to you below:
🔔Nervos CKB is an innovative public chain based on the PoW + UTXO model, aimed at adding more vitality to the Bitcoin ecosystem through cross-chain and scaling support. As a network that is completely isomorphic to Bitcoin (BTC), CKB not only builds the foundation for supporting BTC ecosystem expansion but also provides new possibilities for Bitcoin's programmability and interoperability through technologies like RGB++ protocol and Fiber Network.
✅1. CKB's PoW + UTXO Model: Building the Ideal Layer 2 for BTC
The use of the PoW + UTXO combination not only maintains consistency in security with the Bitcoin network but also grants it higher compatibility with the BTC network, ensuring transaction transparency and verification stability. As a Layer 2 for Bitcoin expansion, CKB provides the necessary infrastructure to support the Bitcoin network, enabling more decentralized applications to be deployed within the Bitcoin ecosystem. The seamless integration between CKB and Bitcoin is made possible through the computational power provided by PoW and on-chain data verification under the UTXO model.
✅2. RGB++ Protocol: Promoting Cross-Chain Circulation of Bitcoin Assets
The RGB++ protocol, as an important innovation in the BTCFi ecosystem, can directly map Bitcoin's UTXO assets to CKB's Cells, thus achieving "bridge-less cross-chain" transfer of Bitcoin assets. In the BTCFi ecosystem, RGB++ provides a foundation for new financial applications, such as Initial Bitcoin Offering (IBO) and other innovative issuance models. This cross-chain mechanism greatly reduces the risks and complexities brought by traditional bridging methods, optimizes asset circulation efficiency, and allows developers to build more complex financial contracts on Bitcoin assets, opening up new possibilities for the future expansion of BTCFi.
✅3. JoyID and Lightning Network: Promoting Decentralized Payment Experience
JoyID, as the first Passkey wallet supporting Bitcoin's Lightning Network, brings users a more convenient and faster payment experience. It not only simplifies small payments and cross-border transfer operations but also strengthens the application scenarios of small payments on the Bitcoin network. Through JoyID's Passkey technology, users no longer rely on traditional private key management methods during the payment process but utilize a decentralized identity authentication mechanism, significantly enhancing the security and user experience of payments. With the launch of JoyID's Lightning Network testnet, this innovative payment experience will further accelerate the popularization of decentralized finance and promote the healthy development of the BTCFi ecosystem.
✅4. Fiber Network: Building the Future of Multi-Asset Circulation
Fiber Network is a cross-chain network created by CKB to enhance the liquidity and scalability of Bitcoin network assets. Through Fiber Network, assets in the BTCFi ecosystem can not only circulate across different chains but also achieve decentralized financial services in a seamless environment. The launch of Fiber Network marks the transition of the Bitcoin ecosystem from a single currency system to a multi-asset ecosystem. By providing stronger cross-chain operational performance, Fiber Network allows various tokens to circulate rapidly on the Bitcoin network and CKB, achieving more free cross-chain interoperability and injecting new vitality into the BTCFi ecosystem.
✅5. Future Development of CKB: Innovative Path for Expanding the Bitcoin Ecosystem
The CKB mainnet was launched in 2019 and is set for its first halving in November 2023, laying a solid foundation for the long-term growth of the entire network. With JoyID's support for the Lightning Network and the upcoming launch of Fiber Network, the development of CKB is gradually maturing. CKB is committed to gradually establishing a decentralized multi-asset circulation platform through deep integration with the Bitcoin network. In the future, CKB is expected to become a pillar of expansion for the Bitcoin ecosystem, driving the transition from a single currency system to a complex decentralized financial system.
