Published on: 2023-04-19T22:17:57+00:00
In an email exchange, Maxim Orlovsky discusses the distinction between Bitcoin contract settlements and BTC issuance. He emphasizes the need for trustless BTC design in lightning channels and mentions the potential of a new blockchain called RGB. RGB would enable smart contracts without requiring BTC/BTC* and offer various features on Lightning. The LNP/BP Standards Association is working on advancing bitcoin and lightning network protocols and seeks support from organizations and individuals.Orlovsky describes a hypothetical scenario where BTC is lifted to RGB (BTC*). He explains the structure of an RGB contract and the process of withdrawing Bob's BTC*. He also addresses the two designs for BTC* creation: lightning channels with trustlessness and on-chain "lifting" with semi-trust.In response to David Harding, Orlovsky clarifies that the RGB Node is not part of the current release and that LNP implementation is no longer required for using RGB on Lightning Network. They highlight the extensive documentation being written and the testing performed, including the use of a strict types system for data verification.Orlovsky discusses misconceptions and clarifies issues related to RGB development. They emphasize the importance of proper design and address concerns about lack of unit tests and demos. Orlovsky also shares the project's contributors and the developed type system.The conversation introduces an RGB lightning implementation based on LDK. David Harding raises concerns about non-publishable conditional statements' security in multiparty protocols. He questions the lack of unit tests and demos for LNP. Harding suggests that RGB's ambition and scope may limit its usefulness.RGB v0.10 has been released by Maxim Orlovsky and can be downloaded from the official website. RGB aims to build a programmability layer for Bitcoin and Lightning, enabling various use cases beyond tokens. However, client-side validation may not be enough for trustless multiparty settings. Concerns are raised about the status of RGB implementations, documentation, and testing.The RGB Network has developed the LNP/BP protocol, enabling token creation on the Bitcoin blockchain. The protocol is flexible, modular, and interoperable with other blockchains. The release of RGB v0.10 by the LNP/BP Standards Association brings full support for smart contracts to Bitcoin and Lightning after extensive development work. Companies are already upgrading their software to v0.10. Further development activities will focus on completing documentation, audits, Lightning network support, and a new smart contracting language called Contractum.Overall, the LNP/BP protocol enhances the versatility and usefulness of the Bitcoin blockchain, allowing for the creation of new assets and applications.
Updated on: 2023-08-02T09:14:03.805942+00:00