RGB V0.11.1 is released on Bitcoin Mainnet, allowing the issuance and management of digital assets such as Stablecoin, NFTS, and tokens on Bitcoin and Lightning networks.
RGB is a smart contract and tokenization protocol that uses client-side validation to verify transaction without intermediary. Operates without a trusted third party, validator, or coalition. The assets are pinned to Bitcoin, but they validate off-chain to maintain scalability and privacy.
“The launch of RGB is not just a technical milestone, it’s a turning point,” said Viktor Inatiuk, co-founder of Boosty Labs and the RGB Association. “In the context of the new Bitcoin Bull cycle, RGB programmerism and privacy combined with Lightning’s scalability, the industry may ultimately realize that Ethereum, Solana, or other chains are no longer needed to build meaningful decentralized products.
“With RGB being live on Bitcoin Mainnet, tools for native programmable assets are finally realistic,” said the founder of BitMask & RGB Protocol Association Gideon Nwzem. “We have moved from prototypes to real products. Bitmask currently supports RGB20. This is just the beginning. It unlocks a new era of tokenized Bitcoin real-world assets and the transition to Bitcoin standards for the global financial system.”
This release allows users to create, send and receive assets in Bitcoin, use programmable agreements and transfer tokens over lightning at a low cost. This update also supports asset issuance and trading within the Bitcoin system.
“The power of RGB on Bitcoin is locked by the Lightning Network. LNFI unlocks Defi for Multi-Asset Lightning and provides a scalable payment layer for the performance needed for serious financial applications, mass trading, asset management, and steady liquidity. “We are building the underlying infrastructure to allow projects to deploy powerful RGB applications from day one.”
The RGB Protocol Association was officially announced on July 14th as a joint effort by leading players developing protocols such as Bitfinex, Fulgur Ventures, Diba, Plan B Network, Boosty Labs, Kaleidoswap, Thunderstack, Bitcoin Tribe, Lnfi, and more.
So far, several companies have already been launched built on top of RBG.
The LNFI network provides the infrastructure for issuing and trading RGB assets. Bitcoin tribe provides apps for sending, receiving and managing RGB tokens. It supports RGB20 and RGB21 tokens and enables scriptless atomic swap on July 21st. ThunderStack has released Thunderlink, an API for RGB asset transfer. Iris Wallet, a wallet that supports local management of RGB assets and Bitcoin.
“This release shows a huge step forward not only in RGB, but in how people interact with Bitcoin assets,” said the founder of the Bitcoin Tribe & RGB Protocol Association Anant Tapadia. “With Bitcoin Tribes, you can freely issue, send and manage everything while still maintaining control. With hole punch power, you’re building more than a wallet. You’re building a real community layer for Bitcoin.
Source: https://bitcoinmagazine.com/news/rgb-v0-11-1-launches-allowing-the-creation-of-digital-assets-on-bitcoin-mainnet
