CKB is still rising, and Bitcoin L2 "pioneer" RGB++ is beginning to gain momentum

The sector rotation has shifted to the Bitcoin ecosystem.

In recent days, the Nervos CKB token CKB has seen a very impressive increase. CKB broke through $0.035 today, up 8.98% on 24. On CoinMarketCap, CKB ranked first with a weekly increase of 102%, far exceeding popular project tokens such as ENA and TON.

The rise of CKB has also led to a general rise in Bitcoin L2. The AI-based Bitcoin L2 BVMnetwork token has risen by more than 133% in a week. "What else is Bitcoin L2?" has also become the focus of community discussion this week.

Related reading: "Bitcoin ecosystem is on the rise, what L2 projects are worth paying attention to? "

Since the announcement of the launch of RGB++ two months ago, CKB seems to have entered the fast lane of growth. On March 25, CKB rose above $0.024, a 24-hour increase of 18.53%, pushing its market value into the TOP 100. Today, more than half a month later, CKB's market value has exceeded 1.58 billion, ranking 76th in market value.

From the price point of view, CKB has only shined in the past two months. There will be voices that it may be following the hype of hot spots. In fact, CKB's bet on Bitcoin L2 is not a whim.

At the end of 2021, when many public chains began to be compatible with EVM, Nervos CKB adopted the UTXO model in a unique way, becoming a blockchain project based on Bitcoin technology to implement the Ethereum 2.0 Layer2 expansion plan. In the 2022 roadmap released by Nervos CKB, it is also mentioned that Nervos has taken the lead in establishing a UTXO alliance and will strengthen research on expanding the UTXO model and payment channels in 2022.

Related reading: "Godwoken is online: Nervos embraces the Ethereum ecosystem"

With the popularity of Bitcoin ecology, the Bitcoin L2 track became the focus of community attention at the end of last year. On February 13, Cipher, the founder of Nervos CKB, released the RGB++ protocol white paper. On that day, CKB's 24-hour increase reached 38.15%, ranking first on Binance's increase list.

RGB++ is an extended protocol based on RGB. CKB retains Bitcoin's UTXO model, but does not stop at the imitation stage. Instead, it introduces the Cell model, which not only inherits the transaction purity of UTXO, but also adds persistent storage of data status, expanding the scope of application of the UTXO model. Through the RGB++ solution, CKB transfers the communication and coordination process of the off-chain client verification node to the chain, solving the problem of off-chain client verification in the BTC ecosystem.

On April 2, Baiyu, head of CKB Ecosystem, introduced the Bitcoin Layer 1 asset issuance protocol RGB++ and CKB's plan for this year in detail to the community in an AMA in the Binance official Chinese group. It is reported that after completing RGB++, CKB will consider supporting other UTXO protocols, such as Atomicals, Taroot Assets, etc. After that, CKB will also launch the UTXO Stack service, which supports one-click UTXO chain issuance and helps other project parties quickly build a Bitcoin L2. Chains issued through UTXO Stack can use RGB++ to connect with the Layer 1 assets on BTC.

Related reading: "CKB and Binance AMA Review｜Bitcoin Ecosystem Super Protocol RGB++"

Nervos CKB Chief Architect Jan Xie once said, "We are experiencing a Bitcoin Renaissance, and UTXO+PoW is the real innovation in the industry." This year, the Bitcoin ecosystem has been the focus of many VCs. CKB has already reaped the benefits of being a "pioneer" and will also face more competitors.