RGB Continues Its Work to Bring Better Smart Contracts to Bitcoin

RGB Continues Its Work to Bring Better Smart Contracts to Bitcoin


The Takeaway

Under development by the LNP/BP Standards Association, the RGB protocol entered beta in June. The second layer network promises to bring smart contracts and tokenized assets to Bitcoin with a Lightning Network-esque technical design. RGB could be used to issue tokenize securities and nonfungible tokens (NFT), and to offer a more private means of stablecoin issuance and transfer. 

Smart contracts and Bitcoin. These technical phenomena are rarely associated with each other, often because people believe Bitcoin’s paired-down scripting language can’t support the smart contract applications that have become the darlings of the Ethereum ecosystem.

But as the new smart contract-enabling protocol RGB launches its beta, the folks at the LNP/BP Standards Association are trying to change this perception.

The group (whose acronym is short for Lightning Network Protocol and Bitcoin Protocol) is building RGB, a smart contract network built on top of Bitcoin. (The protocol is named after the

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