Hangzhou, China, June 22, 2024, Chainwire
In a groundbreaking analysis, leading cryptocurrency research firm Messari published a comprehensive overview of the Nervos Network (CKB), highlighting its pivotal role in advancing Bitcoin's technical framework. The report details how Nervos leverages its innovative Layer-1 blockchain and RGB++ protocol to solve critical scalability and programmability issues within the Bitcoin ecosystem.
According to the report, the Nervos network not only extends Bitcoin's underlying technology, but also introduces significant improvements through the cell model and CKB-VM. These advancements facilitate more complex applications and transactions on blockchains without sacrificing the core principles of decentralization and security.
Messari's research further highlights the RGB++ protocol, an evolution of the original RGB protocol that enables smart contracts and asset issuance directly on the Bitcoin blockchain. Since implementation, the RGB++ protocol has driven a notable increase in network activity, including 181% month-over-month growth in new addresses this April, demonstrating strong community acceptance and the impact of the protocol.
Integration of the Lightning Network with payment channels is also underway, which promises to make the Nervos network more scalable and versatile for a variety of blockchain applications. This development is poised to further solidify CKB’s position as an essential layer for the operation and accessibility of Bitcoin.
“Messari’s report reaffirms our faith in Nervos CKB’s Bitcoin-based approach to solving long-standing problems in the Bitcoin space,” said Baiyu, CKB Eco Fund Lead. “As we continue to innovate and expand our ecosystem, this recognition highlights CKB’s significant potential to support Bitcoin’s evolution into a more powerful and versatile blockchain platform.”
Messari's full report not only highlights the technical strengths of the Nervos network, but also positions the Nervos network as a strong competitor in the blockchain space that can drive future innovation and increase the overall utility of Bitcoin.
For more information and to access the full report, users can visit https://messari.io/report/understanding-nervos-network.
About Nervos CKB:
CKB is the first fully BTC homomorphic L2 (PoW+UTXO), providing a more decentralized, secure, and Bitcoin-compatible L2 solution.
CKB extends Bitcoin's programmability and interoperability using the RGB++ protocol that maps Bitcoin UTXOs to CKB cells, allowing Bitcoin L1 UTXO-based assets such as Ordinals, Atomicals, and Taproot to be connected to CKB without a cross-chain bridge. Allows for seamless transfers to and from. The UTXO stack, a Bitcoin L2 “OP stack” protected by CKB and powered by RGB++, implements high-performance parallel chains, providing nearly unlimited scalability without compromising security. The CKB Lightning Network connects to Bitcoin's Lightning Network to facilitate two-way, censorship-resistant, permissionless, and trustless asset flows between the two networks.
CKB mainnet was launched in November 2019 and completed its first mining reward halving in November 2023.
contact
CKB Eco Fund MKT
Kelly Jean
CKB Eco Fund
(email protected)
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