Concept and vision of UIB protocol

Source: Daoshuo Blockchain

In the previous article, I shared with you the Bitcoin extension architecture based on Nervos Network (CKB).

In the past few days, there have been some more detailed articles on the Internet that introduce this framework. In these articles, the authors mentioned a more abstract protocol UIB (UTXO-based Isomophic Binding). Based on this UIB protocol, in theory, all existing UTXO-based blockchains (such as Dogecoin, BCH, Litecoin, etc.) can be similarly extended and developed.

This protocol will have the potential to integrate all UTXO blockchains and present a new vision for the entire UTXO blockchain ecosystem.

Let's go back to the architecture based on Nervos Network.

In this architecture: users can issue assets based on the RGB++ protocol, build and deploy decentralized applications on the Nervos Network, and use the UTXO Stack to customize the second-layer extension based on Bitcoin.

These three parts can be organically combined. It essentially takes advantage of the fact that both Bitcoin and the second-layer extension (Nervos Network) are based on the UTXO architecture, so that the UTXO of the second-layer extension and the UTXO of the first-layer main network (Bitcoin) can be mapped/bound one by one, and the second-layer extension can be used to expand the performance of the main network.

It is worth noting that the components of this architecture can achieve wide compatibility.

In terms of asset compatibility, not only assets issued based on the RGB++ protocol are applicable to this protocol framework, but also assets issued based on the Runes, Atomical and Taproot protocols.

This means that assets of these compatible protocols can be included in this ecosystem. If such an ecosystem develops, its scale will not be underestimated.

In terms of compatibility of the second-layer extension, the blockchain platform on which the decentralized applications in the architecture rely implements the expansion of the Bitcoin main network and the UTXO binding with the Bitcoin main network. At present, this platform is Nervos Network, but in fact any blockchain that has achieved Turing completeness and is based on the UTXO architecture can be applied to this framework.

In order to quickly implement such a blockchain, UTXO Stack has set this goal: to allow users to conveniently achieve "one-click chain issuance".

Although the second-layer expansion system of Bitcoin has now shown a raging trend and new projects are constantly emerging, most of them appear in the form of side chains or EVM, and the development speed and efficiency are not fast enough.

If UTXO Stack technology can achieve "one-click chain issuance" efficiently and quickly, then the second-layer expansion system will also appear in the Bitcoin ecosystem in the future. The blowout trend of Ethereum will be similar. For us retail investors, it means that a movement that uses the expectation of issuing coins to motivate users to participate in this type of second-layer expansion will be launched more fiercely.

This framework is currently mainly aimed at the Bitcoin network, but in theory any UTXO blockchain can be applied.

Therefore, this framework can issue RGB++ assets for any UTXO blockchain, realize isomorphism and performance expansion for any UTXO blockchain, and realize one-click issuance of second-layer expansion for any UTXO blockchain.

This is the basic idea of ​​the UIB protocol.

Following this idea, the following scenario may appear in the future:

A middle layer based on the UIB protocol connects all UTXO main networks (such as Bitcoin, Dogecoin, BCH, Litecoin, etc.) upwards, and connects to various second-layer expansion systems that expand the UTXO main network and realize Turing complete functions downwards.

In this way, users can publish RGB++ assets on any blockchain at one time and deploy their own decentralized applications in any second-layer expansion system.

So in theory, this framework has made certain compromises, balancing the advantages and disadvantages of each solution and taking into account various problems in the expansion of the Bitcoin ecosystem.

Of course, this is a very ideal situation. To achieve this ideal, close cooperation and vigorous promotion of various project parties in the ecosystem are required.

Bitcoin halving is just around the corner. According to past experience, the market will most likely see a wave of enthusiasm about half a year after Bitcoin halving. Whether we can catch up with this wave of enthusiasm and seize the opportunity to fully promote the progress of this protocol will be crucial to whether the protocol can stand out in this fierce competition.