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Deep understanding #UTXOStack
L1: Programmability ➡️ Turing-complete capabilities with #RGB++ protocol;
L2: Scalability ➡️ One-click deployment of UTXO-based application chains.
L1: Programmability ➡️ Turing-complete capabilities with #RGB++ protocol;
L2: Scalability ➡️ One-click deployment of UTXO-based application chains.
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Popular Science | What is UTXO?
The English name of #UTXO is Unspent Transaction Output, which means “unspent transaction output”. It should be said that the core concept of Bitcoin transaction and the core knowledge point of transaction is UTXO, so let’s talk about UTXO in this article.
Transaction components
There is no concept of accounts in Bitcoin. The so-called balance of an address is actually calculated by counting all transactions related to this address. So let's adjust the focus of the microscope and take a look at what elements are included in a transaction.
Transaction components
There is no concept of accounts in Bitcoin. The so-called balance of an address is actually calculated by counting all transactions related to this address. So let's adjust the focus of the microscope and take a look at what elements are included in a transaction.
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Nostr Ecosystem Development Status and Problems
Last week, CKB community member Retric proposed the Nostr Binding Protocol.
The Nostr Binding Protocol is used to create a one-to-one mapping relationship between Nostr Event and CKB Cell. Ordinary users can create and distribute native assets in the Nostr social network based on this protocol. Through RGB++, these assets on Nostr can also be controlled by Bitcoin addresses. Client developers can build products on it. Unlike ETH dApp, which is divided into two systems (one is the off-chain server and the other is the on-chain smart contract), the Nostr Binding Protocol brings a new development paradigm to dApp. It uses a consistent system with different data levels to build dApp. It is reported that the Nostr Binding Protocol can be seamlessly integrated into the CKB Lightning Network in the future to solve the problem of native payment in social networks.
The Nostr Binding Protocol is used to create a one-to-one mapping relationship between Nostr Event and CKB Cell. Ordinary users can create and distribute native assets in the Nostr social network based on this protocol. Through RGB++, these assets on Nostr can also be controlled by Bitcoin addresses. Client developers can build products on it. Unlike ETH dApp, which is divided into two systems (one is the off-chain server and the other is the on-chain smart contract), the Nostr Binding Protocol brings a new development paradigm to dApp. It uses a consistent system with different data levels to build dApp. It is reported that the Nostr Binding Protocol can be seamlessly integrated into the CKB Lightning Network in the future to solve the problem of native payment in social networks.
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Understanding CKB’s programmability from Bitcoin application programming
The following content is reproduced from the Nervos Talk forum, written by Ajian (Editor-in-Chief of Bitcoin content platform BTC Study). Original link: https://talk.nervos.org/t/ckb/7504
Summary
Understanding the programmability of a system requires us to identify the structural characteristics of the system. Exploring application programming based on Bitcoin scripts helps us understand the basic structure of CKB Cell and its programming paradigm. Not only that, it can also decompose CKB's programming elements into appropriate parts and help us understand the programmability gains brought by each part.
Summary
Understanding the programmability of a system requires us to identify the structural characteristics of the system. Exploring application programming based on Bitcoin scripts helps us understand the basic structure of CKB Cell and its programming paradigm. Not only that, it can also decompose CKB's programming elements into appropriate parts and help us understand the programmability gains brought by each part.
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Comparison between UTXO and Account models
Original English link: https://medium.com/nervosnetwork/my-comparison-between-the-utxo-and-account-model-821eb46691b2
In the current blockchain world, there are two main ways of keeping records, the UTXO model (Unspent Transaction Output) and the Account model. Bitcoin uses the UTXO model, and Ethereum uses the Account model.
Bitcoin was originally designed as a peer-to-peer electronic cash system. In Bitcoin, each transaction consumes the UTXO generated by the previous transaction and then generates a new UTXO. The balance of an account is the set of all unspent UTXOs belonging to the address, and the global state of Bitcoin is the set of all currently unspent UTXOs. Ethereum intends to create a more general protocol that supports Turing-complete programming languages, on which users can write smart contracts and create various decentralized applications. Due to the shortcomings of the UTXO model in state preservation and programmability, Ethereum introduced the Account model.
In the current blockchain world, there are two main ways of keeping records, the UTXO model (Unspent Transaction Output) and the Account model. Bitcoin uses the UTXO model, and Ethereum uses the Account model.
Bitcoin was originally designed as a peer-to-peer electronic cash system. In Bitcoin, each transaction consumes the UTXO generated by the previous transaction and then generates a new UTXO. The balance of an account is the set of all unspent UTXOs belonging to the address, and the global state of Bitcoin is the set of all currently unspent UTXOs. Ethereum intends to create a more general protocol that supports Turing-complete programming languages, on which users can write smart contracts and create various decentralized applications. Due to the shortcomings of the UTXO model in state preservation and programmability, Ethereum introduced the Account model.
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🎉 On May 31st, the first $CKB Korea Meet Up will be held during #BitcoinSeoul ! 🚀
🗓️ Date: May 31st 18:00 - 21:30
🪄 Venue: Hashed Lounge
📍 Address: 3rd Floor, Milim Tower, 14 Teheran-ro 4-gil, Gangnam-gu, Seoul
🥳 This gathering is not only a special Meet Up for the $CKB community, but also a great platform for communication and cooperation within the industry.
- 🥂 In-depth communication: communicate with #CKB community members, developers and #区块链 enthusiasts from Korea and around the world.
- ❤️🔥 Discuss together: gain a deeper understanding of the latest developments, technical progress and future plans of CKB.
- 🚀 Community building: Help CKB develop its community in Korea and build a vibrant ecosystem together.
🤝 Friends, see you in Korea at #Seoul
🗓️ Date: May 31st 18:00 - 21:30
🪄 Venue: Hashed Lounge
📍 Address: 3rd Floor, Milim Tower, 14 Teheran-ro 4-gil, Gangnam-gu, Seoul
🥳 This gathering is not only a special Meet Up for the $CKB community, but also a great platform for communication and cooperation within the industry.
- 🥂 In-depth communication: communicate with #CKB community members, developers and #区块链 enthusiasts from Korea and around the world.
- ❤️🔥 Discuss together: gain a deeper understanding of the latest developments, technical progress and future plans of CKB.
- 🚀 Community building: Help CKB develop its community in Korea and build a vibrant ecosystem together.
🤝 Friends, see you in Korea at #Seoul
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Dialogue with CKB: A breakthrough for the Bitcoin ecosystem
On the evening of May 16, "Geek Web3" invited guests from Bitlayer, CKB, and Bool Network to discuss many issues related to Bitcoin Layer 2 on Twitter.
The following are the key points shared by Baiyu, partner of CKB Eco Fund, in this Space, excerpted from the article "Dialogue between Bitlayer, CKB and Bool Network: A Great Debate on Different Schools of Bitcoin Layer 2" (Part 1 and Part 2) by "Geek Web3".
Q1: What do you think of the current development of the Bitcoin ecosystem?
Baiyu: I think the trend is becoming more and more obvious. But it seems that the sentiment of retail investors in the secondary market is completely opposite to that of the primary market. I also felt it in CKB. Before, the Bitcoin ecosystem was mainly fair launch, and retail investors were playing. There were few regular troops. The enthusiasm in the East was much higher than that in the West, and the enthusiasm of retail investors was much higher than that of VC. But now it feels the opposite. First of all, the fair launch, such as Runes or other performances, does not seem to be as high as expected before.
The following are the key points shared by Baiyu, partner of CKB Eco Fund, in this Space, excerpted from the article "Dialogue between Bitlayer, CKB and Bool Network: A Great Debate on Different Schools of Bitcoin Layer 2" (Part 1 and Part 2) by "Geek Web3".
Q1: What do you think of the current development of the Bitcoin ecosystem?
Baiyu: I think the trend is becoming more and more obvious. But it seems that the sentiment of retail investors in the secondary market is completely opposite to that of the primary market. I also felt it in CKB. Before, the Bitcoin ecosystem was mainly fair launch, and retail investors were playing. There were few regular troops. The enthusiasm in the East was much higher than that in the West, and the enthusiasm of retail investors was much higher than that of VC. But now it feels the opposite. First of all, the fair launch, such as Runes or other performances, does not seem to be as high as expected before.
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Nostr Binding Protocol brings new possibilities based on on-chain mechanisms
CKB community member Retric proposed Nostr Binding Protocol
The original article was published on Github https://github.com/RetricSu/nostr-binding/blob/main/docs/lightpaper-zh.md
In this post, we proposed a protocol to bind basic data structures in the Nostr protocol to the CKB blockchain. Through this binding, we allow Nostr native data to inherit the characteristics of UTXO/Cell on the CKB blockchain, bringing new possibilities for Nostr protocol based on on-chain mechanisms. A potential use case is to issue native assets on Nostr. The Nostr binding protocol also brings a new development paradigm for dApps. Instead of splitting your dApp into two systems (one is the off-chain server, and the other is the on-chain smart contract), we use a consistent system with different data levels to build dApps. This is fundamentally different from Ethereum's model.
The original article was published on Github https://github.com/RetricSu/nostr-binding/blob/main/docs/lightpaper-zh.md
In this post, we proposed a protocol to bind basic data structures in the Nostr protocol to the CKB blockchain. Through this binding, we allow Nostr native data to inherit the characteristics of UTXO/Cell on the CKB blockchain, bringing new possibilities for Nostr protocol based on on-chain mechanisms. A potential use case is to issue native assets on Nostr. The Nostr binding protocol also brings a new development paradigm for dApps. Instead of splitting your dApp into two systems (one is the off-chain server, and the other is the on-chain smart contract), we use a consistent system with different data levels to build dApps. This is fundamentally different from Ethereum's model.
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JoyID Wallet Quick Start Guide
The article "10-minute quick start on the RGB++ protocol and how to play" introduces the relevant knowledge of the RGB++ protocol, the existing ecosystem of RGB++ and how to play in easy-to-understand language, with the aim of helping everyone get started quickly. JoyID wallet is currently the most comprehensive crypto wallet supporting RGB++ assets, so being proficient in the use of JoyID is particularly important for in-depth participation in the RGB++ ecosystem.
This article will select some content from the JoyID Passkey Wiki to help you quickly get started and use the JoyID wallet.
JoyID Wallet Introduction
1. What is JoyID Wallet?
This article will select some content from the JoyID Passkey Wiki to help you quickly get started and use the JoyID wallet.
JoyID Wallet Introduction
1. What is JoyID Wallet?
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10-minute quick introduction to the RGB++ protocol and how to play
From the deployment to the Bitcoin mainnet in early April to now, in less than a month, more than 300 crypto assets have been issued through the RGB++ protocol, and the number of holding addresses of the first RGB++ asset $SEAL has reached 16,850, with a cumulative transaction volume of more than 180
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In addition, the ecological development of RGB++ has also begun to take shape, and necessary infrastructure such as wallets, browsers, DEX, Launchpad, asset managers, etc. are available.
However, there are still many people who don’t know enough about the RGB++ protocol and how to play it, and want to participate but don’t know where to start. Therefore, today’s article will be divided into 3 parts. The first part introduces the relevant knowledge of the RGB++ protocol in plain language, the second part introduces the RGB++ ecosystem and how to play it, and the third part is FAQ, hoping to help everyone get started quickly.
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In addition, the ecological development of RGB++ has also begun to take shape, and necessary infrastructure such as wallets, browsers, DEX, Launchpad, asset managers, etc. are available.
However, there are still many people who don’t know enough about the RGB++ protocol and how to play it, and want to participate but don’t know where to start. Therefore, today’s article will be divided into 3 parts. The first part introduces the relevant knowledge of the RGB++ protocol in plain language, the second part introduces the RGB++ ecosystem and how to play it, and the third part is FAQ, hoping to help everyone get started quickly.
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#Nervos #CKB development open class will start on May 20
For those who are interested in #CKB development, don't miss it~
🦾The course mainly covers CKB basics to RGB++ and DOB application development, helping you to better understand and practice BTC and CKB development
🎁Complete all homework check-in tasks, and you can also participate in the CKB red envelope worth 1000USDT
👉Event details: https://mp.weixin.qq.com/s/YkdvUYyB4JsraCZwpXOQig
For those who are interested in #CKB development, don't miss it~
🦾The course mainly covers CKB basics to RGB++ and DOB application development, helping you to better understand and practice BTC and CKB development
🎁Complete all homework check-in tasks, and you can also participate in the CKB red envelope worth 1000USDT
👉Event details: https://mp.weixin.qq.com/s/YkdvUYyB4JsraCZwpXOQig
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Nervos CKB Research Report
Preface
During the fourth Bitcoin halving cycle, the explosive adoption of the #Ordinals protocol and similar protocols made the crypto industry realize the positive externality value of issuing and trading assets based on the Bitcoin L1 layer to the consensus security and ecological development of the Bitcoin mainnet. This can be described as the "Uniswap moment" of the Bitcoin ecosystem.
The evolution and iteration of Bitcoin’s programmability is the result of the Bitcoin community’s opinion market governance, rather than being driven by teleology such as for BTC Holders or for block space Builders.
At present, enhancing the programmability of Bitcoin and thereby increasing the utilization rate of the Bitcoin mainnet block space has become a new design space for the Bitcoin community consensus.
During the fourth Bitcoin halving cycle, the explosive adoption of the #Ordinals protocol and similar protocols made the crypto industry realize the positive externality value of issuing and trading assets based on the Bitcoin L1 layer to the consensus security and ecological development of the Bitcoin mainnet. This can be described as the "Uniswap moment" of the Bitcoin ecosystem.
The evolution and iteration of Bitcoin’s programmability is the result of the Bitcoin community’s opinion market governance, rather than being driven by teleology such as for BTC Holders or for block space Builders.
At present, enhancing the programmability of Bitcoin and thereby increasing the utilization rate of the Bitcoin mainnet block space has become a new design space for the Bitcoin community consensus.
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UTXOSwap Light Paper: Defining a New Paradigm for Bitcoin Finance Transactions
According to ChainCatcher, BiFi's new protocol UTXOSwap has released a light paper and plans to start public beta testing in late May. The UTXOSwap team won the first place in the Bitcoin Devcon hackathon and has reached a strategic cooperation with CKB Eco Fund.
It is reported that UTXOSwap is a decentralized exchange (DEX) protocol based on CKB, which aims to define a new paradigm for Bitcoin Finance transactions. UTXOSwap adopts an intent-centric transaction model, taking advantage of the UTXO programming model. It currently supports transactions of RGB++ and CKB ecological assets, and plans to expand to other BTC ecological assets including Ordinals and Runes in the future.
It is reported that UTXOSwap is a decentralized exchange (DEX) protocol based on CKB, which aims to define a new paradigm for Bitcoin Finance transactions. UTXOSwap adopts an intent-centric transaction model, taking advantage of the UTXO programming model. It currently supports transactions of RGB++ and CKB ecological assets, and plans to expand to other BTC ecological assets including Ordinals and Runes in the future.
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🚀#BiFinew protocol UTXOSwap released a light book and reached a strategic cooperation with CKB Eco Fund.
💪UTXOSwap, as a DEX protocol based on CKB, aims to define a new paradigm for Bitcoin Finance transactions. As an intention-based hybrid transaction model, UTXOSwap supports automatic market maker (AMM) mechanism and off-chain order book matching. Currently, it supports the transaction of #RGB++ and CKB ecological assets, and plans to expand to other BTC ecological assets including#Ordinalsand#Runesin the future.
Look forward to the public beta in late May 👏
📖 View the light book: utxoswap.gitbook.io/en
🔗 View the official website: utxoswap.xyz
💪UTXOSwap, as a DEX protocol based on CKB, aims to define a new paradigm for Bitcoin Finance transactions. As an intention-based hybrid transaction model, UTXOSwap supports automatic market maker (AMM) mechanism and off-chain order book matching. Currently, it supports the transaction of #RGB++ and CKB ecological assets, and plans to expand to other BTC ecological assets including#Ordinalsand#Runesin the future.
Look forward to the public beta in late May 👏
📖 View the light book: utxoswap.gitbook.io/en
🔗 View the official website: utxoswap.xyz
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🎉On May 10, the first Bitcoin RGB++ Meetup will be held in Hong Kong🇭🇰! 🚀
The Bitcoin layer 1 asset issuance protocol RGB++ was officially proposed in February, and it was launched on the mainnet in early April. In more than a month, its ecosystem has begun to take shape:
- More than 300 crypto assets have been issued through the RGB++ protocol
- Necessary infrastructure including wallets, browsers, DEX, Launchpad, asset managers, Leap tools, etc. have also been put into use
In order to let more people understand the RGB++ protocol and its ecological development, CKB Eco Fund will hold a RGB++ special Meetup in Hong Kong on the afternoon of May 10
And many RGB++ ecosystems and communities have in-depth discussions on the development of the protocol and the future blueprint.
At the same time, we also invite industry KOLs and senior investors to share their unique insights
Event details
Time: May 10 13:30--19:00
Location: ATLASPACE, Harbour City, Tsim Sha Tsui, Hong Kong
The Bitcoin layer 1 asset issuance protocol RGB++ was officially proposed in February, and it was launched on the mainnet in early April. In more than a month, its ecosystem has begun to take shape:
- More than 300 crypto assets have been issued through the RGB++ protocol
- Necessary infrastructure including wallets, browsers, DEX, Launchpad, asset managers, Leap tools, etc. have also been put into use
In order to let more people understand the RGB++ protocol and its ecological development, CKB Eco Fund will hold a RGB++ special Meetup in Hong Kong on the afternoon of May 10
And many RGB++ ecosystems and communities have in-depth discussions on the development of the protocol and the future blueprint.
At the same time, we also invite industry KOLs and senior investors to share their unique insights
Event details
Time: May 10 13:30--19:00
Location: ATLASPACE, Harbour City, Tsim Sha Tsui, Hong Kong
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World3, the Bitcoin autonomous world based on RGB++, has reached a strategic cooperation with Nervos CKB Ecological Fund
According to official news, the Metaverse project Matrix World has officially announced its upgrade to World3 (the third continent), the Bitcoin autonomous world. Based on the RGB++ protocol and the DOB protocol, World3 will use the Bitcoin mainnet as the asset control layer for digital objects, and CKB as the DA layer and smart contract layer for digital objects, connecting Bitcoin and the rest of the ecological chain. In addition, World3 will also provide a display and interaction layer for digital objects, and construct a new digital world around full-chain digital objects.
World3 will support players to customize their personal on-chain instance space (Instance Space), allow creators to create various digital objects (DOB), and support various 2D and 3D dApp access to establish the production, consumption, finance and entertainment economic cycles of the third continent. In addition, World3 will also enhance the display and interaction of digital objects through the AI engine.
It is reported that the World3 team plans to conduct DOB airdrops on the BTC mainnet in the near future, and gradually open interactive test scenarios based on DOB. World3 (formerly Matrix World) previously completed a $6 million financing round with participation from investment institutions such as Animoca Brands, Dapper Labs, EVG, and Com2uS.
According to official news, the Metaverse project Matrix World has officially announced its upgrade to World3 (the third continent), the Bitcoin autonomous world. Based on the RGB++ protocol and the DOB protocol, World3 will use the Bitcoin mainnet as the asset control layer for digital objects, and CKB as the DA layer and smart contract layer for digital objects, connecting Bitcoin and the rest of the ecological chain. In addition, World3 will also provide a display and interaction layer for digital objects, and construct a new digital world around full-chain digital objects.
World3 will support players to customize their personal on-chain instance space (Instance Space), allow creators to create various digital objects (DOB), and support various 2D and 3D dApp access to establish the production, consumption, finance and entertainment economic cycles of the third continent. In addition, World3 will also enhance the display and interaction of digital objects through the AI engine.
It is reported that the World3 team plans to conduct DOB airdrops on the BTC mainnet in the near future, and gradually open interactive test scenarios based on DOB. World3 (formerly Matrix World) previously completed a $6 million financing round with participation from investment institutions such as Animoca Brands, Dapper Labs, EVG, and Com2uS.
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$CKB Ecological Fund strategically invests in Stable++, an over-collateralized stablecoin protocol based on#UTXO
The Stable++ team plans to develop the first over-collateralized stablecoin protocol based on CKB to serve the Bitcoin ecosystem and RGB++ ecosystem.
It plans to support new Bitcoin assets such as #BTC, CKB and RGB++ as collateral, generate the first RGB++ stablecoin#USDPPthrough the protocol, and plans to deploy it on BTC Layer2 issued by UTXO Stack in the future.
By then, USDPP can circulate freely in the Bitcoin ecosystem through the Leap function of the RGB++ protocol.
CKB Ecological Fund believes that through strategic investment in the Stable++ protocol, decentralized stablecoins based on over-collateralization of native assets can be introduced to the Bitcoin ecosystem and RGB++ ecosystem, further releasing the liquidity of the DeFi ecosystem, and combining technical solutions such as RGB++ and CKB Lightning Network to unlock new scenarios such as payment and lending in the long term.
The Stable++ team plans to develop the first over-collateralized stablecoin protocol based on CKB to serve the Bitcoin ecosystem and RGB++ ecosystem.
It plans to support new Bitcoin assets such as #BTC, CKB and RGB++ as collateral, generate the first RGB++ stablecoin#USDPPthrough the protocol, and plans to deploy it on BTC Layer2 issued by UTXO Stack in the future.
By then, USDPP can circulate freely in the Bitcoin ecosystem through the Leap function of the RGB++ protocol.
CKB Ecological Fund believes that through strategic investment in the Stable++ protocol, decentralized stablecoins based on over-collateralization of native assets can be introduced to the Bitcoin ecosystem and RGB++ ecosystem, further releasing the liquidity of the DeFi ecosystem, and combining technical solutions such as RGB++ and CKB Lightning Network to unlock new scenarios such as payment and lending in the long term.
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🌟Registration for the first HK#BitcoinDevConhackathon hosted by @UTXOmgmt and co-organized by @CKBEcoFund and @SatoshiLab_HK is now open!
🧑💻👩💻Welcome all developers to develop their creativity on CKB, explore the UTXO model in depth, and share the 🎁$23,000 prize pool!
💡Looking forward to witnessing more innovative and fun applications on $CKB .
🧑💻👩💻Welcome all developers to develop their creativity on CKB, explore the UTXO model in depth, and share the 🎁$23,000 prize pool!
💡Looking forward to witnessing more innovative and fun applications on $CKB .