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InNervation announces “BTCKB” initiative, connecting Nervos CKB and Bitcoin

Nervos CKB and Bitcoin - Global Banking | Finance

InNervation announces “BTCKB” initiative, connecting Nervos CKB and Bitcoin

Singapore, Singapore, January 30th, 2024, FinanceWire

Nervos ecosystem fund, InNervation, today announced the launch of the “BTCKB” initiative and incubation of the blockchain software company CELL Studio.

The “BTCKB” initiative aims to tightly connect the Bitcoin and CKB blockchains. By harnessing the power of their similarities, Proof-of-Work consensus and the UTXO model, CKB can advance the Bitcoin blockchain with powerful new smart contract capabilities and bring BTC, Taproot and RGB assets to CKB.

InNervation has taken its first steps to set this plan in motion, incubating CELL Studio; a blockchain software company led by Nervos co-founder Cipher Wang.

“We’ve seen what Consensys brought to the Ethereum ecosystem, creating essential infrastructure like Infura and Metamask. CELL’s mission is similar: develop game-changing products that promote the development and prosperity of the Nervos ecosystem” said Cipher.

In November, the CELL team launched a revolutionary Web3 Passkey wallet, JoyID, which has amassed over 150,000 users due to its industry-leading user experience. The team now looks to build on this success, and is developing a bridge and UTXO-based DEX to connect BTC and CKB, with plans to create a CKB payment channel network connecting to the Lightning Network.

“We have some exciting ideas and a lot of work ahead of us. The overwhelming interest we are seeing in connecting CKB and BTC is motivating us and there are many different directions CELL could explore, including Layer 3 solutions, Nostr integrations, micropayments or intent-based dApps. Bitcoin has always served as a technical inspiration for CKB, we are confident the possibilities they create together can change the blockchain industry”.

Learn more about CELL at https://cell.studio/  

Learn more about InNervation https://innervation.fund

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