Maxim Orlovsky is the main developer of RGB: a layer 3 protocol that’s built on top of Bitcoin’s Lightning Network. Contrary to Maxim’s joke, RGB doesn’t really stand for Really Good for Bitcoin. But it’s still a smart reference to Colored Coins, an early experiment which aimed to tokenize other assets (real estate, commodities, stocks, company shares) on the Bitcoin blockchain.
Essentially, RGB is a project that takes the best and most useful parts from Colored Coins, Counterparty, Omni, and other protocols which make use of OP_RETURN transactions to prove ownership on the Bitcoin blockchain. But instead of making the entire network validate the ownership transfer, RGB makes use of client side validation: this means that only the parties directly involved in the transaction will store and verify the event.
In a nutshell, RGB makes token issuance and transfer scalable. By taking away the inefficiencies of the blockchain and putting the speed and scalability advantages of the Lightning Network to good use, this Bitcoin layer 3 is the true Ethereum killer.
Interestingly, Maxim Orlovsky was first interested in putting AI experiments on the blockchain and even wanted to do an ICO to finance his project. But after discovering the Lightning network, he never looked back: with RGB, we can have lots of cool use cases such as decentralized cloud storage, stock market trading, decentralized exchanges, NFTs, and collateralized stablecoins. And while these already exist on some altcoin, RGB makes them faster, more reliable, and actually capable of scaling without compromising on decentralization.
Listen to Dr. Maxim Orlovsky on Apple Podcasts, Spotify, and YouTube!
If you use any of these big tech platforms, then please support the Bitcoin Takeover project by subscribing and leaving feedback. Though these actions look like pure vanity on the outside, they also tell the algorithms to rank the content higher. Thus, your likes, subscriptions and comments really make a difference by helping others discover my work more easily.
But big tech, while being convenient, is not really our friend. I self-host my podcast episodes and you can use this native player to enjoy the content. Not only that you can pick the speed, but you can also download the audio file to your computer for offline listening. Should be pretty convenient if you don’t have an internet connection in your car or want to dust off your old iPod Nano.
00:52 – Introducing Dr. Maxim Orlovsky
01:37 – What is RGB?
02:54 – The origins of RGB
05:55 – Peter Todd’s client-side validation
09:55 – Does Lightning network use client side validation?
15:35 – Once again, what is RGB?
20:08 – Make scams scalable
23:49 – Making RGB do more than Ethereum
25:40 – RGB vs Taro (CMYK)
27:35 – Why isn’t RGB getting traction?
28:40 – Maxim wants Bitcoin to be more than money
33:08 – RGB documentation and user friendliness
34:00 – Follow RGB
Bitcoin Takeover Podcast Is Sponsored By Vaultoro & Wasabi Wallet. Maison MAACHI Provides The Clothing!
Vaultoro is the hard money exchange which helps you beat inflation with instant swaps between the best stores of value known to man: gold and bitcoin. Unlike most exchanges, Vaultoro understands the importance of transparency and security. All gold holdings are secured in top tier swiss private vaults and fully insured against theft, fire and more.
Maximize your purchasing power today by going to vaultoro.com/bitcointakeover. This is not financial advice, but gold has been humankind’s most reliable store of value in the last 6000 years. Do your own research! Use the promotion code takeover for a one time bonus of 1 gram of gold for the first 50 new customers buying gold with bitcoin.
Are you concerned that your friends, neighbours, or KYC exchange might know how much bitcoin you own? It’s time to take your financial privacy seriously with Wasabi wallet: a free and open source wallet solution which makes use of mega CoinJoins to mix your coins with those of hundreds of other strangers.
Thanks to the groundbreaking Wabisabi engine, your coins get divided in smaller untraceable units which grant you great anonymity for both HODLing and spending. Download Wasabi wallet 2.0 today at wasabiwallet.io and take advantage of the mega CoinJoins.
What are you gonna wear when Bitcoin hits $1 million? Same old $20 t-shirt? Try Maison MAACHI, designer clothes made in Paris by bitcoiners for bitcoiners.
They’re not your average mass-produced sweatshop clothes: MAACHI will ask for your measurements and tailor every piece of clothing according to the shape of your body, so you will always look and feel great in your t-shirt, hoodie, or dress. And it’s all made in French by real artisans who also happen to be bitcoiners.
Get a Maison MAACHI t-shirt or hoodie today, it might even help you find a girlfriend. And once you get a girlfriend, you can also buy her a Maison MAACHI dress too.
Stop having fun looking poor and check out maisonmaachi.com.