RSK - Adds Ethereum Smart Contracts to Bitcoin
"Bitcoin transaction fees are way too high."
"Bitcoin mining consumes more energy than 159 countries"
" Bitcoin has a scalability issue"
We all heard these complaints within the crypto space.
Saying " This can be improved and I'm going to do something about it!" takes guts.
I admire people like that. They're brave, optimistic and creative.
Remind me how malleable the world really is.
How easy it is to bring positive change and create a more inclusive and fair society.
Gabriel Kurman and his team from RSK, motivated by cypherpunk values, created a game changing innovation on top of the Bitcoin blockchain.
RSK enables the execution of smart contracts running on top of the Bitcoin Blockchain, the most secure and decentralized network.
Smart contracts are self-executing protocols that execute the terms of a contract.
RSK has a two-way peg to Bitcoin, and allows merge mining.
This means that from now on Bitcoin miners can profit from the smart contract revolution.
The original "rootstockers", include Sergio Demián Lerner, Diego Gutierrez Zaldivar, Rubén Ariel Altman, Adrián Eidelman, Gabriel Kurman, and Adrián Garelik.
The organization has partnered with some of the biggest names in the industry, including Coinsilium, AntPool, Bitmain, Digital Currency Group, Xapo, BitPay, Wings, BitGo just to name a few.
On Friday Gabriel Kurman, Co-Founder of RSK Labs and Adrian Eidelman CTO of RSK Labs from Argentina, visited the Denver based Ethereum Meetup Group, hosted by Kent Barton and Sasha Shtern, after attending the Consensus 2018 conference in New York City earlier this week.
Gabriel explained, that RSK is merge mined with Bitcoin now, but soon it will be merge mined with Litecoin, Dash, Bcash and potentially many more coins in future.
RSK extends Bitcoin's functionality with side chains. Side chains are independent blockchains, that allow tokens to be securely used in a separate blockchain and then moved back to the parent-blockchain if needed.
The original parent chain is referred to as Main Chain, in this case Bitcoin.
The side chain is attached to the main chain by a two-way peg.
Merge Mining allows a Bitcoin miner to simultaneously apply the same processing power to a secondary chain for no additional cost. The drawback to merge mining is that it requires miners to give up bandwidth in order to receive transactions from merge mined chain.
RSK's vision by combining blockchain technology with smart contracts is to help transition society into the new era of the "Internet of Value", enabling anyone to exchange any kind of value from a boat to a token using this technology.
RSK team has been in this space for quite a long time. Diego got involved with Bitcoin in 2011 and since 2012 he completely devote himself to the creation of the Argentinean and Latin American Bitcoin communities.
RSK has been running "La Bit Conf" , which is the largest and most important Latin American Bitcoin and blockchain conference in the region for the past 5 years.
The next La Bit Conf is in December 2018 in Chile.
RSK also involved in several blockchain non for profit projects.
One of these initiatives is Blockchain 4 Humanity , a decentralized social accelerator supporting blockchain companies that are working on projects which can improve society. Some of these projects : Decentralized ID, Micro-lending, transparent government
Gabriel is incredibly passionate about social transformation through blockchain technology and the RSK team is committed to help those billions of users who are desperate to use blockchain technology.
Billions of users, who need micro-loans and micro-finance solutions.
I am definitively rooting for Rootstockers