Analyzing the latest inscription project of RGB ecology at the BTC smart contract layer: BitRGBUniPort

The outbreak of Ordinals has brought the narrative of the Bitcoin ecosystem back to public attention. The BRC 20 token headed by Ordi has stirred up waves with one stone, setting off a new Bitcoin asset Summer in the crypto circle. And Ordinals/BRC 20 only It is a small track in this round of Bitcoin ecological narrative, and there are many subdivided track projects in the pipeline. They are all expected to take over the baton of Ordinals and lead the Bitcoin ecosystem to continue to move forward.

RGB protocol introduction

As the most well-known smart contract protocol on Bitcoin, RGB is supported by many star institutions including Fulgur Ventures, Bitfinex, Hojo Foundation, Pandora Prime and DIBA.

The official definition of RGB is a suite of protocols for scalable and confidential smart contracts for Bitcoin and the Lightning Network that can be used to issue and transfer assets as well as rights more generally. In short, based on RGB, new Bitcoin asset forms can be issued that are scalable, composable, and support smart contract scenarios.

The following is an analysis of potential projects built based on the RGB open source protocol:

1）BitRGB

BitRGB is an RGB-based Bitcoin asset management platform that supports the issuance and trading of Bitcoin assets (such as NFT/tokens, etc.). The protocol utilizes a client-validated paradigm to keep all BitRGB-related transaction data off-chain, using only the Bitcoin blockchain as a commitment layer to prevent double-spend issues.

Based on the BitRGB protocol, the issuance and trading of Bitcoin assets can be realized, as well as more diversified smart contract scenarios, achieving higher scalability, privacy and programmability.

Asset type

As a new Bitcoin asset issuance platform, BitRGB supports assets in 3 different formats: RGB 20/ RGB 21/ RGB 22. Each type of asset has specific characteristics and uses. Among them, RGB 20 represents a homogeneous token, which can be compared with the BRC 20 token; RGB 21 token is a non-fungible token, which can be compared with Ordinals NFT; and RGB 21 represents DID, which can be used for identity authentication and access. control and many other fields.

Recent news:

The official announced that the platform’s first RGB 20 asset RGBS will be issued in the near future. Join discord and complete platform tasks to receive whitelist airdrops.

BitRGB related links:Twitter｜Official website

2) UniPort

UniPort is a full-chain interoperable cross-chain protocol in the Bitcoin ecosystem launched by Satori Lasb. It supports the introduction of emerging Bitcoin assets such as RGB 20/BRC 20/Taproot Assets into the smart contract system. By providing a complete cross-chain infrastructure, UniPort will effectively release the liquidity of Bitcoins massive accumulated assets.

It is announced in the UniPort roadmap that it will support more and more blockchain networks in the subsequent iterative upgrades, and will integrate Move ecological chains such as Cosmos ecological chain, Solona, ​​Aptos/Sui, etc., aiming to become a link to any blockchain network. center. The current version fully supports EVM-compatible public chains.

Technical realization

UniPort launched the initial asset cross-chain technology to manage cross-chain assets based on a multi-signature alliance.

For the cross-chain of Bitcoin ecological assets, UniPort plans to use multiple innovative mechanisms to ensure the security and decentralization of cross-chain transactions, including: economic design and reserve management mechanism, node pledge and rotation mechanism, security and anti-malicious behavior mechanism. For details on the above innovative mechanisms, please refer to official documents.

For smart contract chain asset cross-chain, UniPort plans to introduce zero-knowledge proof and light client verification to achieve more secure and efficient asset cross-chain. In addition, UniPort has optimized the existing zk proof generation system and proposed the UniVirgo proof system. UniVirgo combines the advantages of the ZKP algorithms Libra and Virgo. By launching the UniVirgo zk proof generation system, the proof size and verifier cost of on-chain verification will be greatly reduced.

In general, for emerging Bitcoin assets, the realization of asset cross-chain is a rigid need. Therefore, UniPort, as the cross-chain interoperability protocol of the Bitcoin ecosystem, is driven by demand; product version planning is complete and decentralized cross-chain , the technology implementation path is clear and highly implementable.

UniPort related links:Twitter｜Official website