CKB Unveils Fiber Network Light Paper, Testing To Begin Next Week
In Brief
Nervos CKB announced the release of the light paper for its upcoming Fiber Network, a common lighting network.
Proof-of-Work (PoW) blockchain Nervos CKB announced the release of the light paper for its upcoming Fiber Network, a common lighting network. Testing is set to begin next week.
Fiber Network is a common lighting network built on Nervos CKB and off-chain channels, designed to enable fast, low-cost, and decentralized multi-token payments and peer-to-peer transactions for RGB++ assets. Similar to Bitcoin’s Lightning Network, Fiber Network functions as a Layer 2 payment channel extension, handling transactions off-chain to enhance speed and reduce costs, all while preserving the security and decentralization inherent to blockchain technology.
This network supports a wide range of assets, allowing any RGB++ asset, along with CKB native tokens, to be used for payments on the Fiber Network. Its architecture incorporates off-chain payment channels, on-chain contracts, multi-hop routing, and monitoring services.
Currently, Fiber Network has completed its prototype development, successfully implementing basic functions such as channel creation, updates, and closure between two nodes. Additionally, it has verified cross-chain compatibility with the Bitcoin Lightning Network.
Fiber Network Leverages Nervos CKB To Develop Advanced Multi-Asset Payment System
Nervos Network represents a modular blockchain system based on its secure and adaptable Layer 1, known as the Common Knowledge Base (CKB). CKB utilizes a PoW consensus mechanism and supports a broad variety of cryptographic primitives. It is designed to interact with various blockchains, sidechains, and Layer 2 networks.
The platform emphasizes both versatility and security, offering distinct benefits in addressing blockchain scalability and interoperability challenges. It is built on the NC-Max consensus protocol, which integrates PoW with a state leasing mechanism to guarantee network security and efficient resource management. Additionally, the platform’s Cell model and RISC-V instruction set virtual machine improve the UTXO model’s capabilities. CKB’s economic model promotes long-term holding and rational use of network resources, creating a secure and sustainable decentralized environment for decentralized applications, builders, and users.
By developing off-chain channels on Nervos CKB, Fiber Network aims to merge the successes of the Lightning Network with the technical benefits of CKB. This integration will create a multi-asset, real-time payment exchange network designed to tackle scalability issues, lower transaction costs, enhance transaction speed, support multiple asset types, and enable network interoperability.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
