Bitcoin Forum

I've been researching a lot about sidechains and other solutions built on top of the main Bitcoin blockchain lately. I came across a new smart contract platform named "RSK" which leverages the main Bitcoin blockchain for security/reliability. Considering that "RSK" is largely compatible with Ethereum's smart contract programming language (Solidity), it might become a huge contender of the world's second-largest cryptocurrency by market cap (ETH). After all, "RSK" will prove to be much more secure and resilient than the main ETH blockchain. Developers would prefer to create new dApps on the "RSK" sidechain, because of its greater level of security than ETH. Best of all, those who mine "RSK" will also be mining "BTC" (merged mining) becoming highly beneficial for both chains.

What are your thoughts? Do you think "RSK" will be able to "topple" ETH sometime in the future because of its dependency on Bitcoin's blockchain for security/reliability? Will it become one of the most popular smart contract platforms in the world sometime in the future? ???

It is as good as you just described but it's price is just insane right now lol.
They are still in test net era, the chances it may become as good (or better) than Etherum isn't gonna be in the next couple months or even years for sure unless they were mass adopted like Bitcoin or Etherum in their first days.

Im not so sure about that. I first heard this RSK when I joined the bounty for temco as they uses this network. But later on they changed again to eth network and leave rsk blockchain. Im not so sure about whats the reason maybe bug or incompatibility with their platform or what.

I am not sure if that's what I think it is but I see there is a huge spike on RSK's marketcap in January. ($476k to $1,339k) The first one was in October 2019. (from $0 to ~$470k)

https://images2.imgbox.com/90/af/i66tbhLU_o.png

If this means what I think it does which is the locked BTC amount on RSK, then that means somebody started to use this finally.

I have heard this term "The Ethereum Killer" so many times in this forum but never found one cryptocurrency actually able to do it.

This is a new Blockchain as it is still being tested. If it is an actual ethereum killer then to prove it the team needs to finish testing fast. I am sure it will not be possible by the end of this year. 

Still, thanks for introducing it to us, I will keep an eye on it.

The EOS coin also predicted rapid growth and that it would surpass Ethereum, as it had some functional advantages. However, the miracle never happened. I think that in this case, a miracle will not happen. Ethereum will remain one of the best cryptocurrencies for a long time, and see what happens next.

I wouldn't say that it will be a Ethereum killer, but it could be up there as a competition in the future. The thing with RSK is that it will set a precedence, Ethereum smart contracts based on bitcoin? That's a first.

It is still on experimental stage so projects are not yet ready to used it and probably not see the benefits until someone really apply it to the real world. For now Ethereum is still the choice but RSK will definitely in the discussions as competition for dapps in the future.

On the contrary, it could benefit BTC more (but that could be in for another discussions).

There are plenty of blockchains that offer cross-chain smart contracts, sidechains, supposedly improved efficiency over Ethereum etc.

However, Ethereum already has by far the biggest lead both in terms of Dapp developers and the number of current DApps and smart contracts currently in operation.

Because of this, Ethereum has likely cemented itself as the number 1 computing platform, even if there are technically superior blockchains.

Similar to what Bitcoin has done for payment cryptos, despite the fact things like Nano and Monero exist.

It takes time to prove it, because Eth has been tested and so many new platforms have sprung up with a variety of advantages but until now Eth is still not displaced, you can check

we will not know the future of ethereum as it is because there are still many projects that use smart contracts from ethereum, while ethereum is still widely used I don't think it will ever be replaced with another

RSK is good but you see the majority of people even don't know about it! When Credits came, I saw many people started talking Credits will be the Ethereum killer, the same thing happened when Aeternity came! Even last year people said Binance blockchain will be the Ethereum killer, but we already know the result. So, RSK is a better network, let them grow, don't start saying that this is Ethereum killer, rather this is another better technology in the crypto world.

RSK is no doubt a good altcoin but still have a long way to good, I recommend for those looking for long term investment but do not hope that this new altcoins can beat Ethereum when even EOS or Seele can't do that, it's going to take years to achieve what Ethereum already achieved

Well, 1 RSK is worth the same as 1 BTC. But anyone could get access to it, by buying fractions of a coin. I believe that smart contracts operating on the "RSK" sidechain would require a very small amount of "RSK" just like it's the case with "ETH". We'll have to see which smart contract platform will be able to provide security/decentralization, as well as, scalability for true adoption of decentralized applications within the mainstream world. Since Ethereum was the first smart contract platform ever created, it has the most support from people worldwide. Other platforms may be better in terms of their technical design, but they lack branding/recognition in the mainstream world. The number of developers on the ETH blockchain far surpasses those on other competing chains like EOS, Cardano, NEO, and even "RSK".

It's no doubt that "RSK" is still experimental. A lot of years of research and development are needed in order to make "RSK" a robust smart contract platform that would "tackle" ETH and other competing chains in the crypto space. The fact that "RSK" is behind other big players on the market (ETH, EOS, etc.) means that it's very unlikely it'll become the leading smart contract platform in the future. At least, we have another alternative of the ETH blockchain to deal with. In case ETH or any other smart contract platform fails, we could resort to "RSK" as it's proven to be extremely secure against external attacks (thanks to its dependence on BTC's hashrate for security).

Nonetheless, I hope that "RSK" becomes widely successful in the future in order to increase the adoption of Bitcoin within the mainstream world. "RSK" adds up to the ever-growing list of sidechains leveraging the security of the main BTC blockchain. With it, Bitcoin can finally become a powerful smart contract platform like Ethereum within a couple of years from now. :)



That's because RSK is pegged 1:1 to the value of 1 BTC. After all, it's called the "RSK Smart Bitcoin". If I'm not mistaken, it's the same token used on the "RSK" sidechain for the development and execution of smart contracts. It's like using the "BTC" cryptocurrency in a smart contract platform. Still though, I believe that the "RSK" platform is experimental. It may need some time of development and innovation if it wants to "tackle" the ETH blockchain anytime soon. But I doubt this will ever happen, since ETH is already in the lead of the smart contracts space. Developers would use something that's already established (tried-and-tested) than something that's untested and new to crypto land. But who knows? Maybe if developers care about decentralization/censorship-resistance, they'll migrate to the "RSK" sidechain instead? In crypto land where everything is unpredictable, anything could happen. ;)

RSK sure is a good platform but it might never be able to overtake Ethereum. Before we used to hear about many projects which claims to offer better services and features than Bitcoin, some even claimed to offer more TPS but where are they now? They are a shadow of themselves. Same was said about Ethereum where many upcoming blockchains claims to overtake it yet Ethereum is still there waxing strong. What I understand is, the issue isn't about beating Ethereum or any other coin it is about a project sticking to what it believes in, developing and improving it; it is only through this way that they can have a good competition with Ethereum. Until then Ethereum is still hard to be beaten because most projects aren't even prepared for long term development.

Ethereum will not be killed or strangled. Too many cryptocurrencies tied to it. It will always be the second number after bitcoin. Here is the 3rd place and the subsequent ones can be taken by anyone. Because good projects are increasing every year. Maybe there are not so many good projects this year, compared with the past. But they appear. And many work on the ERH-20 wallet. And this is the Ethereum wallet.

I'm really not getting more updates to projects this time I'm not sure if anyone had seen this RSK project were being in the crypto news to make a noise. For price to have $8K+, why is this not even making long ANN threads here int he forum?  Things are very different these days, you just got surprise that some tokens worth $8K listed in bitfinex and kucoin.

Price may be high but cap is nothing to ETH though.

It seems like rsk is somehow pegged by btc's price, but as you mentioned cap is literally nothing.
Also eth is backed by ethereum projects which has the most devs compared to other crypto projects at the moment which is damn insane.
On the other hand this is the second time I see Rsk mentioned on this forum so yeah.

It still depends on how the developer market their platform and how the developers tested and recommended their platform, Ethereum was adopted and still being used and adopted because they are the first smart contract token deployment and early developers and investors have adopted them, it's a big challenge for RSK.

I don't know much about this project but one thing I do know is you need to change your topic heading, even with the question mark still make it sound like something with certainty,
I have heard so many project coming up and be considered as ethereum killer but none  has been able to do the job, this will probably follow same part as others, eth may has its flaws but still remains the second most sort out for after btc.

too many people over confidence with new project that will able tobe ethereum killer. from credits, aeternity till binance but the fact ethereum still be most favourite platfrom in cryptomarket although its often have problem with network scalability. and i am agree we just said it properly that many blockchain better that ethereum , but dont ever said it as killer.

Good point. It's not about features/tech, but what real use cases you're able to provide as a project for the mainstream world. There are so many ETH competitors out there on the market with greater speed and lower costs. Yet, none have been able to overcome ETH's second position on market cap. This is largely because Ethereum has a proven track record of development and innovation since inception. Not to mention, it's the most trusted smart contract platform in the world today. Developers and everyday people will not be interested in something new that's not been tested thoroughly. While RSK is completely compatible with Ethereum's Solidity programming language, it's still in its infancy. The biggest advantage RSK has over Ethereum is that it leverages the security of the main Bitcoin blockchain. This will allow it to be much more resilient against 51% attacks and disruptions from buggy smart contracts on its platform. By being pegged 1:1 to BTC, RSK's possibilities could be expanded far beyond reach.

I'd say that there's a slight chance RSK will be able to rival Ethereum in the future, if it continues to improve over time. But it's nearly impossible for RSK or any other smart contract platform to take ETH's place on the market because of the aforementioned reasons. RSK would better off serve as a complement to Bitcoin and Ethereum than anything else. The more smart contract platforms emerge in crypto land, the better, as the Blockchain industry will mature like never before. Each smart contract platform has its unique features and real use cases for the mainstream world. Whenever it's RSK, Tron, Cardano, or EOS, all decentralized applications have one thing in common. And that is the dependence on Blockchain technology for truly unstoppable computations across the world.

Nonetheless, if developers continue to work on the RSK smart contract platform, it could become a big player in the Blockchain industry. But I don't think it'll be able to replace Ethereum anytime soon, as the latter has first-mover advantage. Basically, all of ETH's rivals clam themselves to be "Ethereum Killers. But at the end of the day, they're just another "kid on the block". They even have greater transaction capacity than ETH, they're still missing adoption within the mainstream world. RSK and other smart contract platforms would only serve as "experimental grounds" for smart contracts, while Ethereum will be the "real deal". It'll be interesting to watch how everything unfolds in the future with RSK as a smart contract platform which depends on Bitcoin for security and reliability. Just my thoughts ;D

RSK isn't the Ethereum killer. Y'all need to stop saying RSK is the ETH killer. It's the same way people got caught up in the hype about Ethereum being the bitcoin killer and then we had a flippening attempt and today, it's a different story all together. No doubt, RSK is one the very few projects that are actually developing. Let's see it this way, both projects have their own purpose and ecosystems.

Yelp, I bet some people still believe ethereum will kill btc one day ;D they are waiting for that day to come anxiously (which may never happen) same thing is happening with rsk,
The only thing I know it kills eth with is the price, I mean, this coin is literally almost the same price with btc, ATH was at $63,368 :o couldn't believe it on coingecko...... except this is another coin we are talking about,
Tech wise and widely use and know aspect, I don't think this can match up with ethereum yet, but price wise, definitely kicking eth ass ::)

How many Bitcoin killer and Ethereum killer have we seen so far? I have never counted.
I think it is very pointless to be in search of this issue. Ethereum number 2 cryptocurrency. If RSK aims to be a good crypto project, it should be done by doing better by not disparaging other successful projects.

In a market, as long as the development never ceases, there is always a possibility that the one lagging behind will outperform the one who is leading.  What I mean to say is that it is early to say something about RSK to beat ETH or to be a real contender since the project is still young and still at its early phase of development.  I am also not removing the possibility of RSK to be an ETH killer, we never know what the future will be and only time will tell.  And always consider that "the only permanent in this world is change" so let us not close the door for the possible ETH killer in the future if we see potential, better to grab the opportunity than be left behind.

Your elaborate about this RSK smart contract platform was so good. More transaction per seconds coin already exists in cryptocurrency but Bitcoin is top. In some way or security this coin could good but Ethereum is second largest coin and RSK can't kill Ethereum Blockchain.

Yes. I've noticed how many competing Blockchain platforms have claimed to be "The Ethereum Killer" when none have been able to outpace the world's second-largest cryptocurrency by market cap. Competing smart contract platforms may have greater speed and lower costs than Ethereum, but they're lacking mainstream adoption. With ETH's first-mover advantage on the market, it looks very unlikely that another smart contract platform will be able to overcome its dominance within the mainstream world.

The concept of RSK may be interesting, but it's still highly experimental. At least, the RSK platform expands Bitcoin's functionalities via a smart contract based sidechain. In terms of security and reliability, the RSK platform greatly outpaces Ethereum by a long shot (as it relies on BTC's hashrate for resistance against 51% attacks). Yet, RSK doesn't have a programming language of its own. Instead, it uses Ethereum's Solidity programming language for smart contracts. This dependence on Ethereum, may not allow RSK to compete with the world's second-largest cryptocurrency by market cap directly. Even TRON is widely compatible with Ethereum's EVM. The only ETH competitors that have true originality and creativity are Cardano and EOS. These platforms have a greater chance of outpacing Ethereum in the future, than RSK itself.

Nonetheless, it's no secret that RSK is not well-known within the crypto space. The team may need to ramp up their marketing/promotion efforts if they want to increase the adoption of RSK within the mainstream world. As long as the platform is "under the radar" I don't see it going anywhere. But it's nice to know that there's a smart contract solution out there that relies on the main Bitcoin blockchain for added security. Just my opinion :)

Let's see what we have here. Another ether killer.
Amazing If I’m not mistaken, such murderers are at least more than 10, and all of them have been trying together several years to overthrow the king of alternative coins.
How much they succeeded we can observe now in the current market. Perhaps in the future one of them will be lucky.

Yes, many have attempted to beat, compete, kill eth but i don't think they can catch up with eth in terms of popularity and usage. and we are not talking the solid development team of eth yet. there is no problem for other projects to try hard enough in competing with bitcoin or eth, as long as they will give a good fight and not screwing their investors by promising that their project will be the next eth or btc. they may create few advantages in features but what they will tackle is the mass adoption. normally, the initial introduction is very hard for every project as they need to gain trust from the users.

The funny thing is If you are talking about ethereum killers and the all of the new smartcontract platforms are exist today have already claimed to be ethereum killer but if we are talking about bitcoin killer and even ethereum has already declared to be bitcoin killer and these projects are having their own capacity for where they will be exist. The result of RSK is not so good as when it was introduced first.
We don't need platform that tried to beat another project but what we need to see a project that created a new innovation.

That's certainly true, mate. There have been so many alternative versions of Ethereum aiming to compete with it directly. I've seen many times where new projects have claimed to be the next "Ethereum Killer", yet unable to surpass ETH's level of adoption within the mainstream world. The RSK blockchain is just an experimental platform for smart contracts just like the rest of competing chains on the market like TRON and EOS. Considering that Ethereum has first-mover advantage on the market, it's hard (if not impossible) to take down its place anytime soon. Ethereum competitors may have technological superiority (greater scalability, additional features), but they're not as widely supported as the original smart contract platform.

In the end, RSK will be just another Blockchain network like the rest on the market right now. It may complement Ethereum in every way, but it cannot serve as a replacement for many obvious reasons. The fact that RSK relies on BTC's hashrate, will allow it to be widely resistant against 51% attacks. Since Ethereum is less secure than Bitcoin, people could easily migrate to RSK in case the ETH blockchain experiences such attacks. After all, RSK is widely compatible with the EVM. Even TRON is compatible with the EVM. With so many options to choose from, people and developers can decide whenever to build or interact with decentralized applications from one chain to another. What's important is blockchain interoperability than anything else. As long as different crypto projects work together in order to make the world a better place, nothing can go wrong. Just my opinion :)

All these issue of one project will kill another existing project, most times I don't really get it. We can only point out the features in new projects which we think might be a good opportunity to kill another existing project and we ends up being wrong. This has been happening since inception and will still continue but the funny thing is, those project killers still don't succeed in killing any project. Just like someone saying ETH will take over Bitcoin, we all know it won't be possible. In my own view, I say, let the project team go ahead and develop whatever they think is capable of attracting invested, users etc which will make them shift their attention to the new project. Most of these new projects have good ideas, but the main question is, are they willing for the competition ahead? Binance came with a winning spirit and look at where it is today, how many are ready to take up that same spirit to beat any project whatsoever? No project is beating Ethereum anytime soon because Ethereum blockchain is also improving as well, but if they are willing for the future competition maybe, just maybe they might stand a chance, till then let me keep my fingers crossed.

Agree. RSK may never replace Ethereum no matter how hard it tries. But at least, it could complement Ethereum in many ways. Being "attached" to the main Bitcoin blockchain, brings its benefits. The RSK blockchain can enjoy greater security and reliability unlike any other smart contract platform in existence today. At least, that's an advantage RSK has over its competitors. With different smart contract platforms in existence, the competition gets tougher day by day. Each have their own features and unique use cases for the mainstream world. Since Ethereum was the first smart contract platform ever created, it has obtained first-mover advantage on the market. At this point, it's nearly impossible for any other smart contract platform to take over ETH's place as the world's second-largest cryptocurrency by market cap.

Even Binance Chain was hailed to be the next "Ethereum Killer". But what matters most is mainstream adoption and real use cases instead of the technology or features of a smart contract platform. Binance Chain may be faster and cheaper than Ethereum, but it's way behind in terms of mainstream adoption. Same applies for RSK, Cardano, EOS, and any other smart contract platform created to date. Despite this, I believe that the future is bright for alternative smart contract platforms like RSK and EOS as they provide unique use cases for the mainstream world. Some businesses or companies would prefer a platform that focuses on security above all else. While others would prefer convenience (greater speed, lower costs) above all else. With so many options to choose from, I believe that each smart contract platform will shine on its own.

That said, RSK is still an experimental platform not ready for mainstream use. Cardano is in the same path, so I think we're still early to talk about them. Whenever RSK will prove to be successful in the long run, it's yet to be seen. It's an interesting concept that proves the power of sidechains on the Bitcoin network. Since RKS is widely compatible with Ethereum's Solidity programming language, developers could easily migrate their dApps into the platform to enjoy a greater level of security/reliability than Ethereum. Whatever the case may be, RSK could experience greater adoption once it's finalized for mainstream use. Just my opinion :)