RSK launches beta platform smart contracts on the Bitcoin blockchain

The company RSK Labs has announced the beta launch of the platform smart contracts the core Bitcoin network, which lasted two years. According to the company, they managed to retain the support of 90% of the hashing power of Bitcoin for combined mining of sidechained RSK. During beta testing, the developers are invited to participate in the rewards program.

The launch of the beta version of core network RSK

On Monday, the company RSK Labs announced the official beta launch open platform for smart contracts RSK called Bamboo.

Competitor Ethereum became a sidechained Bitcoin blockchain that offers a platform for smart contracts, which uses bitcoin and simultaneously provides the benefits of scale in the second layer. Chief science officer Sergio Lerner (Sergio Lerner) commented on the launch:

«We are very pleased that we can share with the community source core network RSK. Very important for us to get feedback and reviews. Project RSK belongs to the whole ecosystem, and we need to work together to create the network of bitcoin is the Internet of values».

Unlike the previous test platform RSK called Ginger, Bamboo uses the main blockchain and the network of RSK. «The main network will be in beta testing for four months», — said Director and co-founder of Diego Gutierrez Zaldivar (Diego Gutierrez Zaldivar), noting that the Bamboo will first use tokens RSK (smart bitcoins), which will be distributed among the participants of the test within 4 months. «During the beta stage, the growth rate of the ratio between price and profit will be limited, then we remove all the restrictions…», — he explained, adding that bitcoins will be distributed between developers of decentralized applications, and companies involved in decision-making.

For sidechained RSK necessary for his mining was carried out in parallel with bloccano Bitcoins through a process called merge mining (combined mining), providing simultaneous mining of both blockchains.

According to the company, Bamboo «is now provided by the bitcoin miners, representing over 60% of the total hashing power of bitcoin», which already use the plugins mixed mining RSK. In addition, «30% of the network Bitcoin has already announced support for RSK and begin to combined mining in the next two weeks.»

«RSK allows bitcoin miners to increase revenue and get a Commission on all smart contracts functioning on RSK with the same hardware, energy consumption and preserving the performance of their still the main business of bitcoin mining».

Founder of mining pool Slush Pool, Marek Palatinus (Marek Palatinus), commented on the launch of Bamboo: «This is an important event for RSK and the bitcoin community as a whole. We are very pleased with the innovation and usage scenarios, which can bring into the ecosystem managed by the bitcoin smart contracts». He added:

«At Slush we finished the integration of mixed mining, provides smart contracts RSK and giving our miners a new source of income.»

Premium program

To ensure that none of the security issues, code of Ethereum will not be repeated with RSK, the company is focused on «conducting additional inspections,» despite the fact that the platform has already passed two external audits of the code. Was developed a set of tools for monitoring the status and operation of the network and obtain network statistics.

With the launch of the Bamboo RSK is taking additional security measures, inviting developers to «be a review of the source code and become part of the Reward (bounty) programs.» The company adds:

«A global community of developers launched a bounty program, inviting all the developers of blockchain, partners and auditors to participate in the program, leave product reviews and to help optimize the technology.»

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