Author: Dr Maxim Orlovsky 2023-04-10 22:09:52
Published on: 2023-04-10T22:09:52+00:00
The RGB Network has developed a new protocol called LNP/BP, an open-source project that enables the creation of tokens on the Bitcoin blockchain. It is designed to be flexible and modular, allowing developers to build applications on top of Bitcoin's underlying technology using smart contracts that execute automatically when certain conditions are met. The LNP/BP protocol is interoperable with other blockchain projects, and the RGB Network has developed a set of standards for tokenization called the LNP/BP Standards.To support the development of the LNP/BP protocol, LNP/BP Standards Association, supported by Fulgur Ventures, Bitfinex, Hojo Foundation, Pandora Prime, and DIBA, has announced the release of RGB v0.10. This significant milestone brings full support of smart contracts to Bitcoin and Lightning after four years of extensive development work. The release includes consensus layer, standard library, and a command-line tool. RGB v0.10 introduces various features such as global state, contract interfaces, strict type system, Rust contracts, state introspection, URL-based invoice format, WASM support, tapret descriptors and custom derivation, simplified dependencies, integration, and UX. This version is closer to being a production-ready system, and users can download and install it from the official website of the protocol, which also contains user and developer guidelines.Companies like MyCitadel wallet, Iris wallet, BitMask, LNP Node with RGB support, RGBEx.io, RGB Tools library, LightningDevKit with RGB support, and Core Lightning RGB plugin are already working on upgrading their software to v0.10. The LNP/BP Standards Association will focus its further development activity around completing RGB documentation, specification, helping public audits of the technology, Lightning network support for complex RGB smart contracts, and RGB toolchain, which includes a new high-level functional smart contracting language called Contractum and other tools that will simplify the life of RGB devs.The future fast-forwards include full support of bitcoin layer 1 and channel state introspection, inter-contract interaction, bulletproofs++ support, and zero-knowledge-based optimizations of the client-side-validated history. All releases and major things are being announced on the official website of the protocol, community, and LNP/BP Standards Association, Twitter of the Association, and community telegram channel.Overall, the LNP/BP protocol is a significant development in the world of blockchain technology. It enables the creation of new types of assets and applications on the Bitcoin blockchain, making it a more versatile and useful platform for developers and users alike.
Updated on: 2023-06-16T17:17:06.963964+00:00