The Nervos Network ecosystem is introducing new vitality to the Bitcoin ecosystem through the three core protocols of RGB++, Fiber Network and Stable++. CKB has become the Layer 2 of the Bitcoin ecosystem with its PoW+UTXO architecture consistent with Bitcoin, helping Bitcoin realize the application scenario of decentralized finance (BTCFi). The RGB++ protocol enables bridgeless cross-chain and smart contract expansion of Bitcoin assets, while the Fiber Network makes efficient small payments possible with an optimized lightning network. At the same time, the Stable++ protocol brings RUSD, a decentralized stablecoin exclusive to the Bitcoin ecosystem, laying the foundation for the widespread application of BTCFi in the future. Nervos is gradually promoting changes in the Bitcoin ecosystem and financial innovation.
🚀Ecological core CKB
How strong is CKB? CKB is the native token of Nervos Network, the second layer of the Bitcoin ecosystem. It was listed on Binance Exchange as early as 2021. With the start of the latest bull market, the price has risen nearly 20 times from the bottom. CKB has also been listed on Upbit Exchange recently, opening up the Korean currency circle. The market is so hot that Binance has to suspend CKB withdrawals. After years of code experience accumulation, the CKC team has recently played a king bomb combination that can be said to be resounding in the currency circle, that is, the RGB++ protocol and the Fiber Network lightning network. RGB++ realizes a smart contract method that is unique to the Bitcoin ecosystem. The Fiber network can solve the pain points of small payments on the lightning network.
CKB has been firmly committed to the POW path from the beginning. As the market's attention seems to be focused on the Bitcoin ecosystem again, CKB can be said to have the best timing, location and people.
🍕RGB++ protocol
What is the origin of RGB++, an innovative protocol that accelerates the progress of the Bitcoin ecosystem? RGB++ was proposed by Cipher, co-founder of CKB. Like Ordinals, Runes, BRC20 and other protocols, it is an asset issuance protocol of the Bitcoin layer. It should be noted that the RGB++ protocol and the RGB protocol are two completely different protocols, but the RGB++ protocol is indeed inspired by the core concept of the RGB protocol, which is why we have the same purchase binding technology that everyone knows. Assets issued through the RGB++ protocol have two major characteristics: First, assets have the security of the Bitcoin network under the blessing of isomorphic binding technology, and second, they can freely shuttle on chains with the same UTXO structure, which is called Leap. The so-called free shuttle is not a centralized way of cross-chain bridges. Instead, native assets circulate directly on different UTXO chains. Therefore, holders will not increase the risk of assets being stolen and lost on cross-chain bridges. As we all know, Bitcoin ecological users pay great attention to security and decentralization, and the emergence of the RGB++ protocol allows assets to perfectly meet the above requirements.
This is an asset form unique to the Bitcoin ecosystem; this is also the starting switch for the Bitcoin ecosystem to start BTCFi summer.
👊Relationship between BTC, CKB, and RGB++ protocols
Understand the triangular relationship between BTC, CKB and RGB++ in plain language. As the technical leader of BTC ecosystem, CKB and RGB++ are indeed a little difficult to understand, but if you imagine Bitcoin as a lone runner and CKB as the dark companion beside him, it is easy to understand. Bitcoin is a runner, and each block is his footprint. UTXO is his special footwork, just like Lingbo Weibu. You have to keep pace with his footsteps to run and talk with him, but few people can do this footsteps. So it always seems a little lonely, which is why it is difficult to build or build a second layer on BTC, and the other runner CKB found a bond through the RGB++ protocol.
It can easily run with Bitcoin, because the physique of CKB and RGB++ is naturally adapted to the UTXO footwork. Isomorphic binding means running together. Bitcoin puts out its left foot, and CKB also puts out its left foot at the same time. They are tied together by RGB++, and the movements are consistent, running very smoothly and happily. So why run together? Because Bitcoin is an i-person, very focused. He is only responsible for accounting step by step, walking step by step, and can't take care of other things. But it is very stable and makes people feel very safe. As an e-person, CKB can complement BTC. Sometimes it takes things, such as digital objects DOBS, sometimes it dances, such as smart contracts, sometimes it accepts cheers, such as staking and DeFi, and sometimes it makes friends, such as connecting with other L2s. CKB has many tricks to play. Who says he has Turing-complete physical fitness? These do not bring burdens to BTC. CKB handles the e part that he is not good at for him, and finally handles all these external things. In summary, it can be handed over to Bitcoin, that is, transaction folding. The two are connected through RGB++, and it is very simple to transfer items. Therefore, RGB++ protocol assets can switch Leap freely between L1 and L2 through isomorphic binding, while other BTC's EVM L2, because it cannot match the UTXO method, can only be transmitted through inferior cross-chain bridges, which is unsafe and has wear and tear. I believe everyone has basically understood the relationship between the three.
👀Stable++'s stablecoin RUSD is officially launched on the mainnet, promoting BTCFi summer
The start button of BTCFi has been pressed! What role does Stable++ play? Stable++ is a decentralized stablecoin protocol based on RGB++. It aims to provide an efficient and reliable stability solution exclusive to the Bitcoin ecosystem. Like MakerDAO in the Ethereum ecosystem, Stable++ adopts an over-collateralization model. Users need to deposit assets such as BTC or CKB as collateral to generate stable RUSD. At the same time, Stable++ also proposes an innovative redemption mechanism, which ensures that RUSD can maintain price stability even if the market fluctuates. The Bitcoin ecosystem wants to explode BTCFi summer. Stablecoins play a vital role. They are widely used in various DeFi protocols, such as lending, liquidity mining, and collateral. The emergence of Stable++ allows the Bitcoin ecosystem to realize the Bitcoin native stablecoin RUSD, which is a decentralized stablecoin with Bitcoin network security! Coupled with isomorphic binding through RGB++. It has realized that stablecoins can circulate in the entire UTXO chain, and in an instant, there is a feeling that the Bitcoin ecosystem has been opened up. RUSD is not only a stable medium of exchange and disposal tool in the Bitcoin ecosystem, but also provides key support for DeFi applications, promoting financial innovation and expansion in the Bitcoin ecosystem. All of this is possible thanks to the emergence of the RGB++ protocol.
🤖Fiber Network
As we all know, the emergence of Bitcoin is to realize a decentralized peer-to-peer transaction system, but the Bitcoin network can only process 7 transactions per second on average, while VISA can execute thousands of transactions per second, and Alipay can reach hundreds of thousands during the Double Eleven period. So geniuses came up with a solution, which is the famous Lightning Network. The Lightning Network can currently reach a transaction speed of 24 million per second. With the increase of nodes, there is no upper limit in theory. Therefore, it is known as the ultimate expansion solution for Bitcoin. However, due to the volatility of BTC prices, the popularity of the Lightning Network faces challenges. Fiber Network is CKB's Lightning Network, which inherits the characteristics of the Lightning Network very well. Various optimizations and enhancements have been made on this basis. In addition to being able to circulate its own CKB, it can also circulate Bitcoin native assets and RGB++ assets. I wonder if you guys understand the combination punch that CKB has played since the release of RGB++? Tip: RGB++ has realized Bitcoin native stablecoins, and Fiber Network can circulate RGB++ assets. Yes, Fiber Network is a lightning network that can circulate stablecoins. Paying with stablecoins solves the volatility problem and allows the Lightning Network technology to begin to become popular.
In this way, Satoshi Nakamoto's original goal of creating blockchain, a peer-to-peer decentralized electronic currency system, has been achieved, while also meeting the needs of small payments and instant payments in real life. All of this is due to the emergence of the RGB++ protocol, which has completely changed the entire Bitcoin ecosystem.
☕ Conclusion
As a Layer 2 solution for Bitcoin, Nervos brings native extension capabilities to Bitcoin through the RGB++ protocol, enabling it to support more complex smart contracts and decentralized applications. Unlike other solutions compatible with the Ethereum virtual machine, Nervos insists on compatibility with the Bitcoin UTXO model and continues to innovate, such as the OTX protocol. This enables Nervos to better retain the decentralized nature of Bitcoin while expanding its application scenarios. BTCFi's large infrastructure on CKB has just begun. The stablecoin protocol based on Bitcoin will surely bring new imagination space to the BTCFi ecosystem. CKB, a value depression, will become fertile ground for entrepreneurs, and all visions are expected in the future.