HANGZHOU, China, June 22, 2024, Chain wire
In a groundbreaking analysis, leading cryptocurrency research firm Messari has published a comprehensive overview of the Nervos Network (CKB), highlighting its key role in improving Bitcoin’s technological framework. The report details how Nervos leverages its novel Layer 1 blockchain protocol and RGB++ protocol to address critical scalability and programmability challenges in the ecosystem.
According to the report, Nervos Network not only advances Bitcoin’s core technologies but also makes significant improvements with the cell model and CKB-VM. These improvements facilitate more intricate applications and transactions on the blockchain without sacrificing the fundamental principles of decentralization and security.
Messari’s research further highlights the RGB++ protocol, an evolution of the original RGB protocol that enables sharp contracts and asset issuance directly on the Bitcoin blockchain. Since its implementation, the RGB++ protocol has resulted in a noticeable enhance in network activity, including in April this year. an enhance of 181% in the number of fresh addresses month over month, demonstrating the good community reception and impact of the protocol.
Integration of payment channels with the Lightning Network is also underway, which is expected to make the Nervos Network more scalable and versatile for various blockchain applications. This development is intended to further strengthen CKB’s position as a layer necessary to the operation and availability of Bitcoin.
“Messari’s report reaffirms our belief in Nervos CKB’s Bitcoin-native approach to solving long-standing problems in the Bitcoin space,” said Baiyu, manager of the CKB Eco Fund. “As we continue to innovate and grow our ecosystem, this recognition underscores CKB’s significant potential in supporting Bitcoin’s evolution into a more robust and comprehensive blockchain platform.”
Messari’s complete report not only sheds airy on the technical advantages of the Nervos Network, but also positions it as a formidable competitor in the blockchain space, capable of driving future innovation and increasing Bitcoin’s overall utility.
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 isomorphic L2 solution (PoW+UTXO) with BTC, offering a more decentralized, secure and Bitcoin-compatible L2 solution.
CKB scales Bitcoin’s programmability and interoperability with the RGB++ protocol, which maps Bitcoin UTXO to CKB cells, enabling seamless transfer of Bitcoin L1 UTXO-based assets such as Ordinals, Atomicals, and Taproot to CKB without any cross-chain bridge, and vice versa. UTXO Stack, a Bitcoin L2 “OP Stack” secured by CKB and powered by RGB++, enables high-performance parallel chains, offering near-infinite scalability without compromising security. The CKB Lightning Network will connect to Bitcoin’s Lightning Network, facilitating bi-directional, censorship-resistant, permissionless and trustless flow of resources between the two networks.
The CKB mainnet launched in November 2019 and completed its first mining reward halving in November 2023.
contactCKB Fund Eco MKTKelly JinaEco CKB Fundkelly@nervos.org
