Thursday , July 18 2024
Home / Bitcoin (BTC) / Messari’s New Report Recognizes Nervos CKB as a Game-Changer for Bitcoin’s Scalability and Programmability

Messari’s New Report Recognizes Nervos CKB as a Game-Changer for Bitcoin’s Scalability and Programmability

Summary:
[HANGZHOU, 中国, June 22nd, 2024] In a groundbreaking analysis, leading cryptocurrency research firm Messari has published a comprehensive overview of the Nervos Network (CKB), spotlighting its pivotal role in enhancing Bitcoin’s technological framework. The report details how Nervos leverages its innovative Layer-1 blockchain and RGB++ protocol to address critical scalability and programmability challenges within the Bitcoin ecosystem. According to the report, Nervos Network not only expands on Bitcoin’s fundamental technologies but also introduces significant improvements with its Cell Model and CKB-VM. These advancements facilitate more complex applications and transactions on the blockchain without sacrificing the core principles of decentralization and security.

Topics:
Chainwire considers the following as important:

This could be interesting, too:

BTCWIRE writes Clandeno (CLD) ICO Expected to 100X Amid Political Uncertainty and Bitcoin (BTC) Rebounds with Ethereum (ETH) Rallying

Chainwire writes PlayFi Powers FIrst AI-Driven Prediction Market for Esports World Cup CounterStrike

Chainwire writes Multipool Enters Strategic Partnership with Tokinvest Delivering Next-Level Tokenized Real-World Asset Trading

Chainwire writes BioMatrix Partners with TapCoins to Revolutionize Web3 Learning and Engagement

[HANGZHOU, 中国, June 22nd, 2024]

In a groundbreaking analysis, leading cryptocurrency research firm Messari has published a comprehensive overview of the Nervos Network (CKB), spotlighting its pivotal role in enhancing Bitcoin’s technological framework. The report details how Nervos leverages its innovative Layer-1 blockchain and RGB++ protocol to address critical scalability and programmability challenges within the Bitcoin ecosystem.

According to the report, Nervos Network not only expands on Bitcoin’s fundamental technologies but also introduces significant improvements with its Cell Model and CKB-VM. These advancements facilitate more complex applications and transactions on the blockchain 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 Bitcoin’s blockchain. Since its implementation, the RGB++ protocol has driven a notable increase in network activity, including an 181% month-over-month growth in new addresses this April, demonstrating the community’s strong reception and the protocol’s impact.

The integration of payment channels with the Lightning Network is also underway, which promises to make the Nervos Network more scalable and versatile for various blockchain applications. This development is poised to further cement CKB’s position as an essential layer for Bitcoin’s operation and accessibility.

“Messari’s report reaffirms our belief in the Nervos CKB’s Bitcoin-native approach to solving long-standing issues in the Bitcoin space,” said Baiyu, CKB Eco Fund Lead. “As we continue to innovate and expand our ecosystem, this recognition underscores the significant potential of CKB to support Bitcoin’s evolution into a more robust and versatile blockchain platform.”

The complete report by Messari not only sheds light on the technical merits of the Nervos Network but also positions it as a formidable contender in the blockchain space, capable of driving future innovations and increasing 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-isomorphic L2 (PoW+UTXO), offering a more decentralized, secure, and Bitcoin-compatible L2 solution.

CKB scales Bitcoin’s programmability and interoperability with RGB++ protocol, which maps Bitcoin UTXOs to CKB Cells, enabling the 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-unlimited scalability without compromising security. CKB Lightning Network will connect with Bitcoin’s Lightning Network, facilitating a bi-directional, censorship-resistant, permissionless and trustless flow of assets between the two networks.

CKB mainnet launched in Nov. 2019 and completed its first mining reward halving in Nov. 2023.

Leave a Reply

Your email address will not be published. Required fields are marked *