RSK: The Ethereum Killer?

[Abiky]

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?

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[ansi]

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.

[Kotone]

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?

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.

[mindrust]

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)



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.

[pakhitheboss]

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.

[Ozero]

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.

[TravelMug]

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).

[Diced90]

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.

[antsam]

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

[ahyadinnn]

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.

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

[hirngespenst]

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.

[joseyphil82]

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

[Abiky]

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.

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.

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)



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.

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.

[rdewilde]

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.

[Latines]

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.

[cabron]

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.

[saifoufa]

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.

[smyslov]

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 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.

[nicecrypto]

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.

[NewRanger]

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.

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.