Messari’s New Report Recognizes Nervos CKB as a Game-Changer for Bitcoin’s Scalability and Programmability By Chainwire
Hangzhou, China, June 22, 2024, Chainwire
In an innovative analysis, leading cryptocurrency research firm Messari has published a comprehensive overview of the Nervos Network (CKB), highlighting its pivotal role in enhancing Bitcoin's technological framework. The report details how Nervos is leveraging innovative Blockchain Layer-1 technology and the RGB++ protocol to address critical scalability and programmability challenges within the ecosystem.
According to the report, Nervos Network not only expands on core Bitcoin technologies, but also offers significant improvements through Cell Model and CKB-VM. These advances facilitate more complex applications and transactions on the blockchain without sacrificing the fundamental principles of decentralization and security.
Messari's research also 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 led to a notable increase in network activity, including a 181% month-over-month growth in new addresses in April of this year, demonstrating the strong community reception and impact of the protocol.
Payment channels are also being integrated with the Lightning Network, which promises to make the Nervos Network more scalable and versatile for different blockchain applications. This development aims to strengthen CKB's position as the foundational layer for Bitcoin's operation and accessibility.
“The Messari report reaffirms our belief in Nervos CKB’s Bitcoin-native approach to solving long-standing problems in the Bitcoin space,” said Baio, head of the CKB Environmental Fund. “As we continue to innovate and expand our ecosystem, this recognition underscores CKB’s great potential to support Bitcoin’s evolution into a more powerful and diverse blockchain platform.”
The full report by Messari not only highlights the technical advantages of the Nervos network, but also positions it as a formidable competitor in the blockchain space, capable of driving future innovations and increasing the overall utility of Bitcoin.
For more information and access to the full report, users can visit https://messari.io/report/understanding-nervos-network.
About Nervos CKP:
CKB is the first fully BTC symmetric L2 (PoW+UTXO), offering a more decentralized, secure, and Bitcoin-compatible L2 solution.
CKB extends Bitcoin's programmability and interoperability through the RGB++ protocol, which maps Bitcoin UTXOs to CKB Cells, enabling seamless transfer of Bitcoin L1 UTXO-based assets such as Ordinals, Atomicals, and Taproot, to CKB without any cross-chain bridging and vice versa. UTXO Stack, a Bitcoin L2 “OP Stack” secured by CKB and powered by RGB++, enables high-performance parallel chains, providing nearly unlimited scalability without compromising security. The CKB Lightning Network will connect to the Bitcoin Lightning Network, facilitating two-way, censorship-resistant, permissionless, trustless flow of assets between the two networks.
The CKB mainnet went live in November 2019 and completed its first mining reward halving in November 2023.
communicationCKB Environmental Fund MKTKelly JaneCKB Environmental Fundkelly@nervos.org
