From RGB to RGB++: CKB Empowers the Development of Bitcoin Ecosystem Asset Protocol

CN
1 year ago

These days, a sub-ecosystem around CKB in the Bitcoin ecosystem has attracted a lot of attention.

This ecosystem mainly consists of three parts:

RGB++ Protocol: A protocol for issuing Bitcoin assets

Nervos: A second-layer extension system for Bitcoin

UTXO Stack: Used to build blockchain systems based on the UTXO architecture.

RGB++ is an asset issuance protocol in the Bitcoin ecosystem, originating from the RGB protocol, but it solves some of the difficulties of the RGB protocol in implementation, enabling the protocol to be implemented.

Nervos is an early project that was originally intended to build a layer of blockchain similar to Ethereum to support a wide range of applications, but it has not seen much progress in recent years. It wasn't until the Bitcoin ecosystem launched that the team shifted its development focus to the second-layer extension of Bitcoin based on its own UTXO homomorphic properties.

UTXO Stack has only recently been exposed in the media. The main advantage is that it has gained favor from capital, including many institutions, mainly due to its "one-click chain issuance" feature. However, the goal of this feature is definitely not to create more UTXO-based blockchain layers, but to build a second-layer extension system that is homomorphic to Bitcoin.

Overall, we can understand this ecosystem as follows:

Around Bitcoin, it provides a complete infrastructure for users to issue assets (based on RGB++), build applications (based on CKB), and customize their own second-layer extensions (UTXO Stack).

In this ecosystem framework, UTXO Stack is what I think sets it apart from other Bitcoin ecosystems.

We all know that Ethereum already has a fairly mature "one-click chain issuance" system, such as the toolset for issuing second-layer extensions provided by Optimism—Base is implemented in this way; Arbitrum provides a toolset for issuing third-layer extensions—such as XAI and the recently popular Degen Chain.

But in the Bitcoin ecosystem, the current second-layer extension systems are basically working independently, requiring teams to rebuild one by one, and there is no "one-click chain issuance" toolset similar to the Ethereum ecosystem. In my understanding, UTXO Stack seems to be the first project in this area in the Bitcoin ecosystem.

Overall, the design of this ecosystem framework is technically sound and innovative.

But I still want to emphasize that ecosystem development is currently the more important aspect.

In the current market landscape, various second-layer extensions such as Merlin have already attracted a large number of users to participate in staking through coin issuance expectations, accumulating a considerable amount of TVL in their second-layer extensions, and there are still continuous actions to be expected in the future.

In addition, a large number of airdrops in the Rune ecosystem are still ongoing, attracting a continuous increase in holdings of Rune-like assets.

Currently, user resources in the Bitcoin ecosystem are very limited. With these competitors continuing to attract users, how the CKB ecosystem can accelerate ecosystem development and attract more users is a challenge that cannot be ignored.

Earlier, I mentioned a detail about user experience in an article or discussion:

I once tried to buy CKB, but I couldn't buy it on any exchange for this coin; so I tried to see if I could buy CKB packaged on Ethereum (Wrapped CKB), and found a packaged token, but it was not on Ethereum, so it was still inconvenient to purchase.

Without comparison, there is no harm: I also found it inconvenient to buy the native token of a coin, AR, but it was easy to buy its packaged token (WAR) on Ethereum.

In comparison, at least from this detail, CKB still has a considerable room for improvement in user experience.

Therefore, the most urgent task for this ecosystem now is to greatly improve the user experience and quickly attract users to participate in its ecosystem development.

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