Nervos Network’s CKB token soared more than 55% shortly after the developer released RGB++, an enhanced protocol base designed to work with Bitcoin.
According to data from CoinMarketCap, Nervos Network’s CKB experienced a notable spike of over 55% following the release of RGB++, an enhanced protocol designed to enhance compatibility with Bitcoin. According to the data, CKB’s trading volume increased by more than 1,800% in the past 24 hours, reaching up to $116.4 million.
This surge has pushed the token to levels not seen since 2022. Although the exact reason behind the pump remains unclear, the sudden spike coincided with the release of RGB++, an enhanced protocol built on top of RGB (Really Good Bitcoin). RGB++ is powered by the Lightning Network sidechain. To address the scalability challenge.
According to forum posts, RGB++ addresses issues that existed in previous versions of RGB while introducing new features such as enhanced transaction validation methods. Additionally, the protocol aims to streamline processes such as token airdrops.
CELL Studio, a blockchain software development company focused on Bitcoin and the Nervos Network ecosystem, calls its latest development a “significant step towards mass adoption and sustainability within the Bitcoin community.” ”.
Founded in 2018 by Jan Xie, Kevin Wang, Terry Tai, Daniel Lv, and other industry veterans, Nervos Network is focused on its mission to address scalability and interoperability challenges within the blockchain ecosystem . The project leverages his CKB token and appears to serve multiple purposes including transaction and storage fees, governance, and incentive programs.