The vision and concept of the UIB protocol

CN
1 year ago

In the previous article, I shared with everyone the Bitcoin expansion architecture based on Nervos Network (CKB).

In recent days, there have been some more detailed introductions to this framework online. In these articles, the authors all mentioned a more abstract protocol called UTXO-based Isomorphic Binding (UIB). Based on this UIB protocol, theoretically all existing UTXO-based blockchains (such as Dogecoin, BCH, Litecoin, etc.) can undergo similar expansion and development.

This protocol may potentially integrate all UTXO blockchains and present a completely new perspective for the entire UTXO blockchain ecosystem.

Let's first revisit the architecture based on Nervos Network.

In this architecture: users can issue assets based on the RGB++ protocol, build and deploy decentralized applications on Nervos Network, and customize Bitcoin-based layer-two extensions using UTXO Stack.

These three components can be organically combined. Essentially, it leverages the fact that both Bitcoin and the layer-two extension (Nervos Network) are based on the UTXO architecture, enabling the UTXO of the layer-two extension to be one-to-one mapped/bound to the UTXO of the first-layer mainnet (Bitcoin) and utilizing the layer-two extension to enhance the performance of the mainnet.

It is worth noting that the components of this architecture can achieve broad compatibility.

In terms of asset compatibility, not only assets issued based on the RGB++ protocol are applicable to this protocol framework, but also assets issued based on the Runes, Atomical, and Taproot protocols are applicable to this protocol framework.

This means that assets compatible with these protocols can all be included in this ecosystem. If such an ecosystem develops, its scale will be considerable.

In terms of layer-two extension compatibility, the blockchain platform on which the decentralized applications in the architecture depend implements the extension of the Bitcoin mainnet and the binding to the UTXO of the Bitcoin mainnet. Currently, this platform is Nervos Network, but in reality, any blockchain that implements Turing completeness and is based on the UTXO architecture can be applicable to this framework.

In order to quickly implement such blockchains, UTXO Stack has set the goal of enabling users to easily achieve "one-click chain issuance."

Although the second-layer extension system of Bitcoin has shown great momentum and new projects continue to emerge, most of them appear in the form of sidechains or EVM, and their development speed is not fast enough and their efficiency is not high.

If UTXO Stack technology can efficiently and quickly achieve "one-click chain issuance," then a surge of second-layer extension systems similar to Ethereum may also emerge in the Bitcoin ecosystem. For retail investors like us, it means that a movement to incentivize users to participate in such second-layer extensions using coin issuance expectations will intensify.

This framework is currently mainly targeted at the Bitcoin network, but theoretically, any UTXO blockchain can be applicable.

Therefore, this framework can issue RGB++ assets for any UTXO blockchain, implement isomorphism and performance extension for any UTXO blockchain, and achieve one-click issuance of second-layer extensions for any UTXO blockchain.

This is the basic idea of the UIB protocol.

Following this idea, in the future, a scenario like this may emerge:

An intermediate layer based on the UIB protocol connects all UTXO mainnets (such as Bitcoin, Dogecoin, BCH, Litecoin, etc.) upwards and connects various second-layer extension systems that extend UTXO mainnets while also implementing Turing complete functionality downwards.

This way, users can issue RGB++ assets on any blockchain at once and deploy their decentralized applications in any second-layer extension system.

So theoretically, this framework has made certain compromises, balanced the advantages and disadvantages of various solutions, and taken into account various issues in the expansion of the Bitcoin ecosystem.

Of course, this is a very ideal situation. Achieving this ideal requires close cooperation and vigorous promotion from various projects in the ecosystem.

The Bitcoin halving is just around the corner, and based on past experience, there will likely be a wave of enthusiasm in the market about half a year after the halving. Whether we can seize the opportunity before this wave of enthusiasm and comprehensively promote the progress of this protocol will be crucial for the protocol to stand out in this intense competition.

免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

Share To
APP

X

Telegram

Facebook

Reddit

CopyLink