Friends, today we are going to talk about a blockchain project that is both impressive and down to earth - Nervos CKB, let's see how it stirs up the storm in the world of Bitcoin!
1. Nervos CKB: A good helper for Bitcoin
First of all, you need to know what Nervos CKB is. Simply put, it is a public blockchain based on proof of work (PoW) and the UTXO model, launched at the end of 2019, somewhat similar to Bitcoin but with more high-tech features. For example, it has something called CKB-VM, based on the RISC-V instruction set, which sounds complicated, but actually makes the blockchain smarter, capable of handling more tasks. There is also a Cell model, an upgraded version of the UTXO model, making transactions safer and more flexible.
$CKB The token is called CKByte, and there are three ways to obtain it: genesis block, basic issuance, and secondary issuance. But don’t worry, Nervos DAO will help ensure that holders are not 'diluted' by secondary issuance.
Next, let's talk about its unique secret weapon - the RGB++ protocol. This protocol is like adding an external plugin to Bitcoin, allowing Bitcoin to play with smart contracts and issue assets, solving some minor issues of the original RGB protocol, making Bitcoin more programmable and fun.
There are also payment channels, like Perun, which are still in testing, but imagine, you can trade quickly off-chain and then settle on-chain, doesn't that make you think CKB is amazing?
2. The matters between Bitcoin L2 and Ethereum
When it comes to the Bitcoin L2 market, it's the place to accelerate and expand Bitcoin. There are many solutions on the market, but some are too complex and some are not secure. Nervos CKB provides a native extension for Bitcoin through RGB++, being both secure and practical, it's simply a super power bank for Bitcoin.
Let’s also talk about Ethereum, which opened up the era of programmable blockchains, but it has gone a bit 'off track' now. It aimed to become a 'world computer', but is becoming increasingly centralized, with network congestion and power concentration, even L2 solutions are becoming centralized. Additionally, the abuse of ICOs has led to a lot of 'shitty coins' flying around, and the incentive mechanisms are in disarray.
3. The future of public lightning networks and Web5
Having discussed the problems, let's take a look at the solutions. Nervos CKB has a public lightning network solution based on Fiber Network and DePIN hardware, aiming to create a global value network and P2P economy. Imagine, not only can you transfer money quickly, but you can also swim freely in the P2P application ecosystem, how awesome is that!
Finally, let’s talk about the vision of Web5. Simply put, Web5 aims to bring the internet back to decentralization, making services closer to users. The technology of Nervos CKB and the Bitcoin ecosystem is a powerful tool to achieve this vision. Especially the RGB++ Layer, it's simply the cornerstone of Web5.
Come, let's take a look at three use cases:
P2P economy: Imagine, your files are not stored on a cloud server, but distributed across global nodes, safe and private.
BTCFi: Just like LEGO blocks, you can build various financial applications using the UTXO model, and play however you want.
PayFi: A decentralized exchange based on the lightning network, fast trading, low fees, and it also protects your privacy.
In summary, Nervos CKB is like a superhero for Bitcoin, not only solving many problems for Bitcoin but also stepping into the future of Web5 together with Bitcoin. This is not just a technological innovation but a return to and sublimation of the spirit of the internet. Let’s look forward to this decentralized, service-oriented Web5 era!
