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L’ecosistema Bitcoin pullula costantemente di cambiamenti, di innovazioni e di test.

Dopo aver discusso in precedenza dei drivechain, oggi voglio soffermarmi su RGB (Really Good for Bitcoin), il cui rilascio in versione 0.10 stabile risale a pochi giorni fa.

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But what exactly is RGB?

First proposed in 2016 by Giacomo Zucco and Peter Todd, RGB aims to improve on Vitalik Buterin's ColorCoins project, in which real-world assets could be assigned to specific bitcoins.

It is a client-side validation and smart contract system that operates on the Lightning Network, layer 2 of Bitcoin. In other words, RGB allows you to add support for smart contracts on Lightning and therefore on Bitcoin.

While not a token protocol, RGB allows you to issue and manage programmable and highly scalable assets.

Why is RGB so important? Three main reasons:

  1. It is highly scalable, causing no congestion on the Bitcoin blockchain. Transactions only hold homomorphic commitments without requiring additional storage.
  2. It is safe, not needing any hard fork for implementation and improvements.
  3. It guarantees privacy, as miners cannot see the full content of transactions.

In summary, RGB enables smart contracts while preserving the scalability and privacy of the Bitcoin blockchain, unlike solutions such as Ordinals.

This opens up huge possibilities for the Bitcoin ecosystem: token creation, NFTs, fungible assets, DeFi solutions and much more, all leveraging the power of Bitcoin.

The release of version 0.10 is crucial as it includes a command line tool and libraries for RGB integration on desktop and mobile. We can therefore expect new RGB-based applications and use cases soon, which will revolutionize the concept of smart contracts on Bitcoin.

In conclusion, RGB represents an evolution to be followed carefully, allowing Bitcoin to fully exploit the potential of smart contracts in a native, scalable way and, according to its supporters, in compliance with its philosophy.

So, in your view, should Bitcoin simply be a store of value, or does expanding its use cases benefit the ecosystem?


Further information:

RGB is an innovative protocol that allows you to implement highly scalable and confidential smart contracts on the Lightning network and therefore on Bitcoin. Here are some insights:

  • RGB is based on the concepts of “single-use seals” and “client-side validation” created by Peter Todd in 2017 to improve previous protocols such as Colored Coins.
  • It moves much of the smart contract processing off-chain, using the Bitcoin blockchain only for final settlement, ensuring scalability.
  • It uses homomorphic encryption to hide the contents of transactions, providing confidentiality.
  • It does not require changes to the Bitcoin blockchain (hard fork) to implement new features.
  • Enable advanced use cases like stablecoins, lending, DEX, DeFi, DAO, NFT and more.

Some projects and protocols that already use RGB:

  • RGB20, basic implementation of the protocol
  • Leapfrog, institutional custody solution
  • Zebedee, wallet and API for developers
  • Stacks, RGB-enabled Bitcoin sidechain

Resources for further reading:

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