‘What is RGB and why you should care’ article

I recently wrote an article on the topic of RGB smart contracts and reasons why it's the technology you would not want to miss out on. If you were wondering what RGB is, what stage of development it's on and what you can do with it – it's great place to start.
The article is available in English https://www.ukolova.ch/bitcoin-and-rgb/what-is-rgb-and-why-should-i-care
and was published in Bitcoin Magazine UA in Ukrainian https://bitcoinmagazine.ua/technologies/1678169018-shcho-take-rgb-i-chomu-mene-tse-mae-hvilyuvati

RGB is a scalable & confidential smart contracts system which can be viewed as both layer2 and/ or layer 3 technology working on top of Bitcoin and, most importantly, at the moment of writing – the only solution working with the Lightning Network. RGB leverages the strongest points of Bitcoin and Lightning, while expanding their functionality to an astonishing level. RGB gives the ability to separate many different types of ownership rights (ownership of different assets defined under a contract) such as the right to own, use, transfer, modify, sell etc., from the contract states (conditions, under which a contract exists currently), proofs and contract evolution. Thus we can say that the RGB contract defines an event-consequence algorithm 'if this happens then that happens’ with an obligation to follow certain verification rules on each step.

submitted by /u/Olga_Ukolova
[link] [comments]

Leave a Reply

Your email address will not be published. Required fields are marked *