What makes this any different from counterparty, liquid, soveryn etc?
#RGB🔴🟢🔵 enables post-blockchain smart contracts on #bitcoin #lightning⚡️
Here is a quick overview on what RGB promises to be able to do:
RGB scales
It can scale in terms of transaction throughput, data size and network size, because it doesn't keep any data on-chain. It is sharded from the day 1 and is fully interoperable with layer 2 scalability solutions.
RGB offers privacy
Transactions are not on a blockchain, so no analysis is possible. It uses zero-knowledge to protect the history of a fungible state.
RGB is bitcoin & lightning native
RGB brings rich smart contracts in a scalable way to the world's most secure and censorship-resistant cryptocurrency: bitcoin.
RGB is capable
RGB was designed to allow everything what is possible with blockchain-based smart contracts (like in Ethereum and others) – but in the scalable, robust and private way. You can do Tokens, NFTs, DeFi, DAOs.
Learn more: https://rgb.tech
Discussion
Mostly client-side validation. You only know of the contracts you are involved in, and you validate the state that concerns you yourself (e.g. if you receive an asset, you verify the history of the coins by going back through the state transitions).
Bitcoin L1 is used as an ownership layer and to commit for state transitions. But these transitions can also happen in a Lightning channel.
They just released rgb.tech if you wanna take a look, but for more advanced details I'd recommend rgbfaq.com.
Looks good. I want to start building on top of ₿itcoin/lightning but there are so many options out there now lol 😂
Any integration with LNBits?
Not yet, RGB is a big piece to integrate, and the last consensus breaking changes have just been released. I think 2023/2024 will be good years for RGB 😁