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The current release of RGB v0.11.1 on the Bitcoin mainnet represents a critical development in the issuance and management of digital properties, consisting of stablecoins, NFTs, and tokens, straight on Bitcoin and the Lightning Network.

RGB is a wise agreement and tokenization procedure that utilizes client-side recognition, enabling deal verification without the require for intermediaries. This procedure operates individually of relied on 3rd parties, validators, or federations, anchoring properties to Bitcoin while making sure off-chain recognition to boost scalability and personal privacy.

According to Viktor Ihnatiuk, Co-Founder of Boosty Labs and the RGB Association, “The launch of RGB is not merely a technical milestone; it represents a transformative moment. With the convergence of RGB’s programmability and privacy features alongside the scalability offered by Lightning, the industry may finally recognize that Ethereum, Solana, or other blockchain platforms are no longer necessary for building impactful decentralized products. Everything required is now available on Bitcoin.”

Gideon Nwzem, Founder of Bitmask and the RGB Protocol Association, specified, “With RGB now operational on the Bitcoin mainnet, the tools for utilizing native, programmable assets have become a reality. We have transitioned from mere prototypes to tangible products, with Bitmask now supporting RGB20—and this is merely the beginning. This heralds a new era for tokenized Bitcoin assets and the potential migration of the global financial system towards a Bitcoin Standard.”

This release empowers users to produce, send out, and get properties on Bitcoin, use programmable agreements, and transfer tokens over the Lightning Network with very little charges. The upgrade also helps with asset issuance and trading totally within the Bitcoin community.

The Founder of LNFI and the RGB Protocol Association, Darius, described, “The capabilities of RGB on Bitcoin are amplified by the Lightning Network. LNFI enables decentralized finance for multi-asset Lightning, delivering the high-performance, scalable settlement layer necessary for extensive financial applications, high-volume trading, asset management, and stablecoin liquidity. We are constructing the foundational infrastructure that allows projects to deploy robust RGB applications from inception.”

Formally revealed on July 14, the RGB Protocol Association is a collective effort consisting of substantial factors to the procedure, consisting of Bitfinex, Fulgur Ventures, Bitmask by DIBA, Plan B Network, Boosty Labs, Kaleidoswap, ThunderStack, Bitcoin Tribe, and LNFI.

To date, a number of business leveraging RGB have actually released, consisting of:

  • LNFI Network, which offers facilities for releasing and trading RGB properties.
  • Bitcoin Tribe, which provides an application for sending out, getting, and handling RGB tokens.
  • Bitmask, which supports RGB20 and RGB21 tokens and strategies to make it possible for scriptless atomic swaps on July 21.
  • ThunderStack, which launched ThunderLink, an API for RGB asset transfers.
  • Iris Wallet, created for regional management of RGB properties and Bitcoin.

Anant Tapadia, Founder of Bitcoin Tribe and the RGB Protocol Association, said, “This release represents a significant advancement not only for RGB but also for user interaction with assets on Bitcoin. The Bitcoin Tribe platform allows users to issue, send, and manage assets freely while maintaining control. By utilizing Holepunch for peer-to-peer communication, we are not merely creating a wallet; we are fostering a genuine community layer for Bitcoin. This is just the beginning.”

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