🔍 In recent years, the blockchain industry has gradually deviated from its original intention as a P2P electronic cash system. Innovation has stagnated, speculation has flourished, and Ethereum has become the core of these issues.
📊 A recent research report critically examines Ethereum's missteps, analyzing its pseudo-decentralization phenomena in terms of participation, ownership, and distribution, and comparing it with Bitcoin's architecture. The report points out that while Ethereum has promoted the popularization of smart contracts, its level of decentralization is questioned, especially regarding node participation, token distribution, and governance structure. In contrast, Bitcoin, with its Proof of Work (PoW) and Unspent Transaction Output (UTXO) model, demonstrates higher security and transparency.
💡 In order to reclaim the lost ground of P2P innovation and build a truly P2P value network, the report proposes the 'Common Lightning Initiative' roadmap. This roadmap aims to leverage Bitcoin's backbone to merge the advantages of Web2 and Web3, promoting the development of concepts such as BTCFi (Bitcoin Decentralized Finance), P2P economy, and Web5. Web5 is seen as a revival of a distributed P2P network, incorporating a new type of consensus layer for our era, aimed at achieving an information + value network.
⚡ In this context,$CKB (Common Knowledge Base), as an ideal Layer 2 expansion solution for Bitcoin, showcases its unique value and technical advantages. CKB adopts the same PoW + UTXO model as Bitcoin, which not only ensures its security and transparency but also allows CKB to integrate seamlessly with the Bitcoin ecosystem. Through this model, CKB inherits Bitcoin's robustness and decentralization features while providing additional scalability and flexibility.
🌐 CKB's Layer 2 status is reflected not only in its compatibility with Bitcoin but also in its innovative RGB++ protocol. The RGB++ protocol is a framework for multi-asset issuance and circulation, allowing the creation, issuance, and trading of various digital assets on CKB. This protocol breaks traditional barriers in asset issuance and cross-chain circulation, enabling CKB to become a truly multi-asset, cross-chain interoperable Layer 2 network.
🌐 In particular, CKB's FiberNetwork, as a Layer 2 payment channel expansion solution, provides fast, low-cost, and decentralized multi-currency payments and peer-to-peer transactions for RGB++ assets. FiberNetwork not only supports CKB's native tokens but also allows for any RGB++ assets to be used for payments and transactions. This cross-chain payment capability greatly enhances the liquidity and scalability of the BTCFi ecosystem, promoting seamless cross-chain circulation of BTCFi assets.
🌐 Through innovative technologies like CKB and FiberNetwork, we can reclaim the P2P vision of Bitcoin and build a more open, free, and secure Web5 future. In this future, Bitcoin will become the cornerstone of a decentralized economy, while Layer 2 networks like CKB will provide strong scalability and interoperability support. Let us work together to promote the realization of this vision!
