Bitlight Labs, a pioneer in RGB protocol and Lightning Network infrastructure development and a board member of the LNP/BP Association, announced the public release of its flagship product, Bitlight Wallet, on April 27, 2024, at 14:00 UTC. This marks the first self-custodial Bitcoin wallet to support RGB assets. Currently in closed beta, the wallet supports Bitcoin transfers, RGB20 asset transfers, and a testnet registry for RGB20 assets. As of the report deadline, data from Bitlight Labs' official website shows the number of registered addresses has reached 319,500 and continues to rise. Within the first 24 hours of launch, addresses hit 100,000, and within 48 hours, they exceeded 200,000. Bitlight Labs claims it has not employed any paid marketing tactics; this rapid organic growth demonstrates strong market enthusiasm for the RGB protocol ecosystem.
What is the RGB Protocol?
The RGB protocol is a native Bitcoin smart contract layer compatible with the Lightning Network. Unlike other scalability solutions for Bitcoin, RGB does not introduce a second blockchain; instead, it brings Turing completeness while preserving Bitcoin's native properties. The concept originated from Peter Todd's work on single-use seals and client-side validation, and was developed into a better asset protocol for Bitcoin and Lightning Network by Giacomo Zucco and the community from 2016 to 2019. Further evolution led to the development of RGB into a full-fledged smart contract system by Maxim Orlovsky, who has been leading its implementation since 2019 with community participation. RGB is a scalable and confidential smart contract system for Bitcoin and Lightning Network. It embraces concepts of private and mutual ownership, abstraction and separation of concerns, and represents a "post-blockchain", Turing-complete form of trustless distributed computing that does not require the introduction of tokens. RGB is not a token protocol; although it can issue and manage highly scalable, programmable, and private assets, its applications extend far beyond the financial world.
Bitlight Wallet Features and Airdrop Campaign
The Bitlight Wallet airdrop is divided into two parts: friend referrals and limited-time tasks. Users can generate invitation links by linking their Bitlight Wallet address with their Twitter account. For each successful referral, both the inviter and invitee receive 1,000 points. Limited-time tasks include following the Bitlight Wallet Twitter account, joining the Bitlight Labs Telegram group, and completing the first testnet transfer. According to the official airdrop page, completing these tasks involves:
- Linking a Twitter account with a Bitlight Wallet RGB address.
- Sharing a personalized invitation link to encourage others to download the wallet.
- Completing social media tasks to boost the RGB community's reach.
- Earned points will be redeemed for $BIT tokens at the Token Generation Event (TGE).
About Bitlight Labs
Bitlight Labs is the first mover and leading project in the RGB protocol ecosystem. It is one of the six board members of the LNP/BP Association, alongside esteemed counterparts such as Bitfinex/Tether. Its flagship product, Bitlight Wallet, is the first self-custodial Bitcoin wallet to support RGB assets.
Related Links: Bitlight Wallet Twitter | Bitlight Labs Twitter | Bitlight Labs Telegram | Official Website