Author: Dr Maxim Orlovsky 2023-04-19 22:17:57
Published on: 2023-04-19T22:17:57+00:00
In the email, Maxim Orlovsky discusses how Bitcoin contracts settlements and BTC issuance should be distinguished from one another. He explains that contract trust models cannot be any better than centralized BTC design if the two are combined. Orlovsky goes on to explain that while a fully trustless BTC is often considered impossible, it can exist in lightning channels, including multiparty channels with many participants. Orlovsky also discusses the potential for a new blockchain called RGB, which would operate on both bitcoin blockchain and sigchain. RGB would allow smart contracts to function without requiring BTC/BTC* and can operate on bearer securities, bearer ownership rights, digital collateral-based stable coins, digital identity, decentralized naming systems, provable historical event logs, liquidity pools, DEXes, AMM, and other similar features on Lightning, which they call "BiFi" (Bitcoin finance). The LNP/BP Standards Association has been working on advancing bitcoin protocol and lightning network protocols and continues to do so. They need support from organizations and individuals to make this future possible.
Updated on: 2023-06-16T17:17:33.536874+00:00