Dear community,
Some time ago we (LNP/BP Standards Association) announced the release of RGB
smart contract system [1]. In the subsequent discussion, we have referenced [2]
that the introduction of client-side validation has the potential for upgrading
Bitcoin layer 1 - blockchain, which has become an unnecessary limiting factor
for the Bitcoin ecosystem, creating both scaling and privacy problems. While
client-side validation requires consensus protocol and some layer 1 (for the
proof of publication), this layer can be implemented in a more efficient way
than the Bitcoin blockchain.
Today we are glad to present Prime: a proposal to upgrade Bitcoin protocol with
the new scalable (up to billions of tx per minute) and fully anonymous (opaque)
layer 1, moving most validation work into the client-side validation system. It
leaves BTC (Bitcoin as money) and the rest of the Bitcoin ecosystem (including
PoW) intact. It may be deployed without a softfork and miners upgrade, but can
certainly benefit from it. It doesn't affect those users who are not willing to
upgrade and doesn't require any consensus or majority for the initial
deployment. It also makes Lightning Network and other layer 2 systems
redundant. Finally, it will make things like BRC20, inscriptions, ordinals etc.
impossible; all proper assets, NFTs etc. will be done with RGB smart contracts,
not forcing non-users to store, validate and use their network bandwidth for
the unpaid third-party interests.
The white paper describing the proposal can be found here:
https://github.com/LNP-BP/layer1/
As LNP/BP Standards Association we are setting a working group which will be
focused on formal specification and reference implementation of this new layer
- and will gladly accept everybody who wishes to cooperate on this topic. We
also plan educational and workshop activities to make community understand the
underlying technology better and take educated decision on its adoption.
We believe that this infrastructural effort must not be managed by a for-profit
company - or a commercial group with its interests, and the only proper way of
funding such an effort should be through non-profit donations. We do plan a
fundraising campaign, so everyone interested in driving the Bitcoin evolution
forward please contact us at ukolova [at] lnp-bp.org. For-profit organizations
can also become members of the Association [3] and get to the committees
defining the shape of the future Bitcoin technologies.
Dr Maxim Orlovsky
on behalf of LNP/BP Standards Association
https://lnp-bp.org/
GitHub: github.com/LNP-BP
Twitter: @lnp_bp
Nostr: npub13mhg7ksq9efna8ullmc5cufa53yuy06k73q4u7v425s8tgpdr5msk5mnym
[1]:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-April/021554.html
[2]:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-April/021577.html
[3]: https://www.lnp-bp.org/membership
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