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Author Topic: Rootstock (RSK) - Smart Contracts for Bitcoin  (Read 173 times)
denis-z12
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March 24, 2018, 12:20:06 PM
 #1




RSK is the first open-source smart contract platform for Bitcoin.
The goal of RSK is to give added value and functionality to Bitcoin's ecosystem by enabling smart contracts, instant payments and more system scalability.

RSK network can withstand 400 tx/sec (simple payment transactions). However, RSK goal is to reach 2K transactions per second using its Lumino technology. It will be possible to make Instant Payments, Payments in Stores  and Shops and payments for Online Gaming.
According to the information from their site, RSK Platform will use Bitcoin as its original currency and have already released their network test phase while working on the final product.

Take a look at what RSK is all about on their site
https://www.rsk.co/


What do you think about RSK and smart contracts for Bitcoin?

 
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March 24, 2018, 12:34:17 PM
 #2

this is a very nice project that is adding a lot more utility to bitcoin than before. it won't have the scaling problem that the current platforms for smart contract like Ethereum are facing and it will also be a lot cheaper than them too.

the only problem, or maybe concern that I see is that a lot of ICOs may give up all those other platforms and switch to bitcoin and that may pump the price into a fake bubble that those platform tokens are currently in and also they can bring in all the problems that ICOs have and pose some problems for bitcoin.

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March 24, 2018, 12:51:58 PM
 #3

this is a very nice project that is adding a lot more utility to bitcoin than before. it won't have the scaling problem that the current platforms for smart contract like Ethereum are facing and it will also be a lot cheaper than them too.

the only problem, or maybe concern that I see is that a lot of ICOs may give up all those other platforms and switch to bitcoin and that may pump the price into a fake bubble that those platform tokens are currently in and also they can bring in all the problems that ICOs have and pose some problems for bitcoin.
RSK will be able to scale to 100 transactions per second Smiley
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March 24, 2018, 12:58:25 PM
 #4

RSK should be the best ico currently available, but it has been under development for too long. Perhaps by the end of the development, the market for encryption has passed.

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March 24, 2018, 01:07:48 PM
 #5

RSK should be the best ico currently available, but it has been under development for too long. Perhaps by the end of the development, the market for encryption has passed.


I dont mind that at all. I would rather wait and have everything working properly whenever its released than seeing a partly finished product hit the market full of bugs and uncertainty.
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March 25, 2018, 10:33:25 PM
 #6

RSK is an evolution of QixCoin, a turing-complete cryptocurrency created in 2013 by the same development team. RSK provides an improved payment experience with almost immediate confirmation. It currently achieves 300 tps and confirms most payments in less than 20 seconds. Yet, it still relies on the same security guarantees as Bitcoin, which supports SHA-256 merged mining.

It is a great development. They are  now on track to reach 400 transaction per second. Though this is new to me but it seems  very promising specially as a bitcoin smart contract. 5 years since it started, I hope it is reliable and fast true to its announcements.Recently this is the problem with bitcoin, too long to confirm.




















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March 26, 2018, 12:30:58 PM
 #7

This is amazing. Seems pretty much secured and fast. 100 tx/sec seems well enough already. Some good therenames as their partner. Hope the project will be completed soon.
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March 26, 2018, 12:42:00 PM
 #8




RSK is the first open-source smart contract platform for Bitcoin.
The goal of RSK is to give added value and functionality to Bitcoin's ecosystem by enabling smart contracts, instant payments and more system scalability.

RSK network can withstand 400 tx/sec (simple payment transactions). However, RSK goal is to reach 2K transactions per second using its Lumino technology. It will be possible to make Instant Payments, Payments in Stores  and Shops and payments for Online Gaming.
According to the information from their site, RSK Platform will use Bitcoin as its original currency and have already released their network test phase while working on the final product.

Take a look at what RSK is all about on their site
https://www.rsk.co/


What do you think about RSK and smart contracts for Bitcoin?




 

Ethereum have increased a lot in value due to their smart contracts. Thousands of token creators have flooded the ethereum platform and causing the value of Ethereum to go sky high. If we are going to apply the same system to bitcoin the possibly bitcoin could increase in value again since many investors will be clinging to bitcoin in order to launch their token.


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March 26, 2018, 01:20:00 PM
 #9

Ethereum have increased a lot in value due to their smart contracts. Thousands of token creators have flooded the ethereum platform and causing the value of Ethereum to go sky high. If we are going to apply the same system to bitcoin the possibly bitcoin could increase in value again since many investors will be clinging to bitcoin in order to launch their token.

maybe, maybe not.
the reason why the ethereum bubble happened was because ICOs were somewhat new and they were starting to become popular by that time. something like the premined altcoins. so they were giving good returns and the scam ones weren't yet started their scamming so there was a lot of investors pouring their money in ETH to get these ICOs.

now it is a different story, people are more scared of ICOs and we are starting to see them treat ICOs like premine altcoins. so i don't think there will be the same "pump" happening to bitcoin but it will definitely add a new and interesting feature and smart contracts can attract a lot of people to bitcoin and that can increase bitcoin's price.

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March 28, 2018, 09:16:50 AM
 #10

Looks like it uses the same Solidity language that is used in Ethereum. Having compatibility is very good, not sure about the language itself...

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April 01, 2018, 10:39:31 PM
 #11

RSK currently has a running BUG BOUNTY PROGRAM. So if you are good at coding, security, hacking there might be some work for you.
https://bounty.rsk.co/
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April 01, 2018, 10:52:13 PM
 #12




RSK is the first open-source smart contract platform for Bitcoin.
The goal of RSK is to give added value and functionality to Bitcoin's ecosystem by enabling smart contracts, instant payments and more system scalability.

RSK network can withstand 400 tx/sec (simple payment transactions). However, RSK goal is to reach 2K transactions per second using its Lumino technology. It will be possible to make Instant Payments, Payments in Stores  and Shops and payments for Online Gaming.
According to the information from their site, RSK Platform will use Bitcoin as its original currency and have already released their network test phase while working on the final product.

Take a look at what RSK is all about on their site
https://www.rsk.co/


What do you think about RSK and smart contracts for Bitcoin?

 

It can be a game changer for all the crypto industry and especially for bitcoin, the possibility of making instant payments in stores is very interesting in terms of bitcoin adoption.


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May 14, 2018, 09:33:46 PM
 #13

Is there an official thread for RSK on Bitcointalk? I couldn't find one. Is OP from the RSK team?

I want to learn more about this project because this could be groundbreaking for all coins without smart contracts like LTC, Dash, Monero, etc. This will be one of best ICO's to invest.

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May 14, 2018, 09:45:55 PM
 #14

RSK is not using actual bitcoins. its using a separate token that represents a 1 for 1 peg against a bitcoin.. and then that token is used offchain.
thus its not adding any smart contract features into bitcoin protocol. its getting people to swap thir bitcoin for RSK token and then having RSK network

though rsk is trying to be another "choice" of another second layer service thats not LN. both LN and RSK are trying to ppretend they are part of the bitcoin protocol, but in reality both not using bitcoins original peer-to-peer onchain, immutible permissionless ethos.

so treat it as a side service for niche usage. and not a thing you want to lock your funds into forever as a solution to bitcoin scaling

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May 14, 2018, 10:51:19 PM
 #15

RSK is not using actual bitcoins. its using a separate token that represents a 1 for 1 peg against a bitcoin.. and then that token is used offchain.
thus its not adding any smart contract features into bitcoin protocol. its getting people to swap thir bitcoin for RSK token and then having RSK network

though rsk is trying to be another "choice" of another second layer service thats not LN. both LN and RSK are trying to ppretend they are part of the bitcoin protocol, but in reality both not using bitcoins original peer-to-peer onchain, immutible permissionless ethos.

so treat it as a side service for niche usage. and not a thing you want to lock your funds into forever as a solution to bitcoin scaling

I agree with you whatever you said above but RSK is not pretending to be  part of the bitcoin. They clearly mention that they have their own RSK blockchain. They are adding value to bitcoin as they have platform in which smart contracts can be done on bitcoins. They are clearly stating they will use GHOST + DECOR  protocols.
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June 02, 2018, 09:31:52 PM
 #16

Is there an official thread for RSK on Bitcointalk? I couldn't find one. Is OP from the RSK team?

I want to learn more about this project because this could be groundbreaking for all coins without smart contracts like LTC, Dash, Monero, etc. This will be one of best ICO's to invest.
Hi, sorry I only saw your message now. No, I have nothing to do with RSK I just read about the project and shared some info about it here because I also find it quite interesting.

Their latest tweet says:
Quote
Say hello to the future of #SmartContracts! @RSKsmart  Bitcoin sidechain is here #BeRSK
so they seem to be making some progress, I am really curious where this might go...
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September 12, 2018, 04:18:50 PM
 #17

RSK can scale far beyond Bitcoin capabilities, as RSK scales to 100 transaction per second, which can act as a temporary solution to Bitcoin's problems, decreasing costs of transactions and increasing their speed. The amount and quality of partners is very impressive with projects like Bitmain, BTC.com, Jaxx or BitPay to name a few.

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September 12, 2018, 06:55:39 PM
 #18

While RSK (and various side-chain/off-chain technology) have great potential, but we know that all of them are ignored by Bitcoin community to the point the technology are used by altcoin or the developer make their own altcoin Sad
Besides, it's too complicated to peg/lock your Bitcoin and looking for the receiver who also use RSK. It's more convenient to exchange Bitcoin with smart-contract cryptocurrency whether through centralized exchange, DEX or atomic-swap.

RSK is not using actual bitcoins. its using a separate token that represents a 1 for 1 peg against a bitcoin.. and then that token is used offchain.
thus its not adding any smart contract features into bitcoin protocol. its getting people to swap thir bitcoin for RSK token and then having RSK network

though rsk is trying to be another "choice" of another second layer service thats not LN. both LN and RSK are trying to ppretend they are part of the bitcoin protocol, but in reality both not using bitcoins original peer-to-peer onchain, immutible permissionless ethos.

so treat it as a side service for niche usage. and not a thing you want to lock your funds into forever as a solution to bitcoin scaling

You don't need to mention the obvious details since it's already explained on it's main page.

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September 12, 2018, 07:06:47 PM
 #19




RSK is the first open-source smart contract platform for Bitcoin.
The goal of RSK is to give added value and functionality to Bitcoin's ecosystem by enabling smart contracts, instant payments and more system scalability.

RSK network can withstand 400 tx/sec (simple payment transactions). However, RSK goal is to reach 2K transactions per second using its Lumino technology. It will be possible to make Instant Payments, Payments in Stores  and Shops and payments for Online Gaming.
According to the information from their site, RSK Platform will use Bitcoin as its original currency and have already released their network test phase while working on the final product.

Take a look at what RSK is all about on their site
https://www.rsk.co/


What do you think about RSK and smart contracts for Bitcoin?
 
The advents of  all these blockchain that is trying to resolve the scalability problem of bitcoin and ether is welcome developments as they will now strive in the market with bitcoin which will force the developers of bitcoin and ethereum to work hard and  fix the lapses found in their systems. RSK will be well  received by the community and work with it because of the massive speed of completion of transaction 400tx/sec comparing with ethereum which has 77 tx/ sec and bitcoin having only 7tx/sec.
 

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