RSK Labs Launch Release that Combines Ethereum and Bitcoin in One Network
The creators of RootStock has launched a public network Tumeric that combines benefits and flexibility of Ethereum with the security and stability of the Bitcoin network.
RSK Labs, the creators of RootStock, a smart contract platform with a two-way peg and merge-mining to the Bitcoin Blockchain, has launched a public network called “Turmeric,” that integrates it core components.
Anthony Di lorio, CEO and Founder at Jaxx, one of the companies that are already developing smart contracts on RSK’s Testnet, says to Cointelegraph:
“We at Jaxx have integrated RSK testnet into our wallet and are excited with the project's overall ambitions to scale and support Bitcoin.”
RSK’s core components includes a turing complete smart contracts virtual machine, a bridge enabling transfers to and from the Bitcoin Network, a set of plug-ins to allow Bitcoin miners to merge-mine both Blockchains at the same time, a federation of leading exchanges and wallets providing extra security and services to the network as well as the initial group of partners running their solutions.
Flexibility and stability
In its announcement, the company describes Turmeric as a creation that is backed by around five petahashes from Bitcoin miners that are running the merge-mining plugins that were developed for CKPool, Eloipool and Stratum-mining software pools.
Alena Vranova of SatoshiLabs, a company working with RSK, describes the Turmeric platform as a sidechain that allows individuals to issue smart tokens and contracts easily, and transfer them securely and with very low cost.
“It should be the next big thing, the Internet of Value. I'm quite curious.”
According to Vranova, what interests her about RSK the most is that they combine all the benefits and flexibility of Ethereum with the security and stability of the Bitcoin network. “That's where SatoshiLabs will help with merged mining of Bitcoin and RSK at the Slush Pool. At the same time, everyone will be able to securely hold any RSK tokens on his TREZOR,” concludes Vranova.
A procedural transition
The announcement notes that the initial testnet was launched with 35 nodes globally distributed. It is currently being tested by a limited number of partners and will be opened to the whole community in early 2017.
“We are very excited about RSK platform and how merge-mining has been seamlessly working on the Testnet. We will continue providing hashing power to be ready for a 100 percent merge-mining scenario once RSK launches its Mainnet early next year,” says Yoshi Goto of Bitcoin India and BitmainWarranty.com.