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Startup from Buenos Aires RSK has announced the accession of a number of well-known firms kriptovalyutnyh initiative called RSK Federation.
The creation and growth of the number of participants in the federation is a signal for the Bitcoin ecosystem and evidence that many companies are willing to financially guarantee the use sidechain, says co-founder and CEO of Rootstock Diego Guttierez Zaldivar
"This extension of majority decision Bitcoin and the challenges facing them, will help to block many of his shortcomings, at the same time protecting its actual value", - said Zaldivar.
Combining RSK Federation was created to support a platform for smart Rootstock contracts, representing a Turing-complete virtual machine, backward compatibility with Ethereum and launched in test mode in May this year. It generates blocks every 20 seconds and allows you to make 300 transactions per second, followed by the announced extension of up to 1,000 transactions per second. The undeniable advantage over other platforms is to use your own blokcheyna, which is a mining, united with Bitcoin. This was done to ensure the necessary level of security.
From a technical point of view Rootstock is a sidechain blokcheyna, ie blokcheyn, existing separately from the main circuit blocks. In this case means can move freely in both directions on a predetermined rule. This allows you to perform additional operations, without compromising the level of protection that offers blokcheyn Bitcoins. The accounting unit in Rootstock RTC received a name and is linked to Bitcoins. To complete the transaction, you need to transfer a certain amount of Bitcoins in sidechain, where they will be blocked and their equivalent in RCT will be unlocked on Rootstock. Back translation is done similarly, ie, RTC blocked and Bitcoins become available.
To carry out such transactions, in practice the necessary guarantees to transfer credits between chains, as Bitcoin "knows" about the transaction in other blokcheynah. That's what was created RSK Federation, whose members are rewarded for carrying out transactions in one direction or another.
Among the companies that have supported the initiative are mentioned such names as Bitcointoyou, Bitex, Bitfinex, bitFlyer, Bitgo, Bitoasis, Bitpay, Bitso, Bits of Gold, Bitstamp, Blockchain, Blockchain Intelligence Group, Blocktrail, BTCC, BitKan, SurBTC, CoinBR, Huobi, OKCoin, Paycase, Tether, Unocoin. Manual startup claims that the number of participants RSK Federation is growing every week.
Recall that in May this year start RSK has announced receipt of additional investments of $ 1 million to fund smart contracts Rootstock development platform. This round of financing the company held mayningovaya Bitmain Technology, the project also supported by investment companies and Coinsilium Digital Currency Group (DCG).