Bitlight Labs, a pioneer in RGB protocol and Lightning Network infrastructure development and a board member of the LNP/BP Association, announced the launch of its flagship product, Bitlight Wallet, on April 27, 2024, at 14:00 UTC. Bitlight Wallet is the first self-custodial Bitcoin wallet to support RGB assets. Currently in the closed beta testing phase, its supported features include Bitcoin transfers, RGB20 asset transfers, and testing network registry for RGB20 assets.
As of the deadline for this report, according to data from the Bitlight Labs official website, the number of addresses registered on Bitlight Wallet has reached 319,500, and this figure continues to rise. According to data monitoring, within the first 24 hours of Bitlight Wallet’s launch, the number of addresses reached 100,000, and within 48 hours, it exceeded 200,000. It is claimed that Bitlight Labs has not employed any paid marketing tactics, and the rapid natural growth demonstrates the market’s enthusiasm for the RGB protocol ecosystem.
It is reported that Bitlight Labs’ public testing of Bitlight Wallet is in preparation for the official release of the RGB protocol’s stable version. Following the official release of RGB protocol version 0.11, Bitlight Wallet will go live on the Bitcoin mainnet, serving as the infrastructure for storing, displaying, transferring, trading, and issuing RGB assets. It is noteworthy that the RGB protocol is developed and maintained by the LNP/BP Association, and Bitlight Labs, as one of its six members, has made significant contributions to the development of the RGB protocol.
What is RGB Protocol?
The RGB protocol is a native Bitcoin smart contract layer compatible with the Lightning Network. In contrast to other scalability solutions for Bitcoin, the RGB protocol does not introduce a second blockchain, introducing Turing completeness while maintaining Bitcoin’s native properties.
RGB has appeared from the research by Peter Todd on single-use-seals and client-side-validation, which was coined in 2016-2019 by Giacomo Zucco and community into a better asset protocol for Bitcoin and Lightning network. Further evolution of these ideas led to a development of RGB into a fully-fledged smart contract system by Maxim Orlovsky, who is leading its implementation since 2019 with community participation.
RGB is a scalable & confidential smart contracts system for Bitcoin & lightning network. They embrace concepts of private & mutual ownership, abstraction and separation of concerns and represent “post-blockchain”, Turing-complete form of trustless distributed computing which does not require introduction of “tokens”.
RGB is not a token protocol. Though issuance and management of highly scalable, programmable and private assets of different sort is possible with RGB, it can be applied in many industries far beyond financial world.
Details of the Bitlight Wallet Airdrop Event
Currently, the Bitlight Wallet airdrop activity is divided into two parts: friend invitation and limited-time tasks.
By linking their Bitlight Wallet address with their Twitter account, users can generate invitation links. For each successful invitation made through the link, both the inviter and the invitee will receive 1000 points. The limited-time tasks mainly include: following the Bitlight Wallet Twitter account, joining the Bitlight Labs Telegram group, and completing the first testnet transfer.
According to the instructions on the Bitlight Labs official airdrop page, completing the airdrop tasks mainly involves the following steps:
- Link your Twitter account with your Bitlight Wallet RGB address.
- Share your personalized invitation link and encourage friends to download Bitlight Wallet.
- Complete time-limited social media tasks to boost the RGB community’s reach.
- Earned points will be redeemed for $BIT tokens at TGE.
About Bitlight Labs
Bitlight Labs is the first mover and leading project in RGB protocol ecosystem. It is one of the six board members of 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: https://twitter.com/Bitlight_Wallet
Bitlight Labs Twitter: https://twitter.com/BitlightLabs
Bitlight Labs Telegram: https://t.me/Bitlightlabs
Bitlight Labs Official Website: https://bitlightlabs.com/
