RSK - Official Site
That is certainly possible if the platform becomes popular and the volume of contracts being run on it amounts to a sizable number. Diego Gutierrez Saldivar, the Rootstock platform is said to be completely open-source and more information will become available at the 2015 Latin American Bitcoin Conference, Labitconf Mexico on December 4 and 5, when the Rootstock whitepaper will be released. If anything, the added pressure of Rootstock using them is likely to speed up sidechain development and be a boon for the whole crypto community. However, the development team at Rootstock has made the call to move ahead with implementing Roots on a sidechain anyway. Ethereum is only one, albeit the largest, out of a number of projects that use their own internal cryptocurrency token.
What is Rootstock
First there will be a Turing-complete Virtual Machine, it will also be backwards compatible with the Ethereum VM by including Ethereum VM opcodes. These group will be in charge of releasing locked Bitcoin when required. If you havent heard of the sidechains proposal you can review the whitepaper here, or read our explanation of sidechains here.
Rootstock, smart, contracts on the Bitcoin Blockchain
Not only is this a great feature for BTC miners, it's also great news for the environment. These RSK coins can be used to deploy or to interact with smart contracts and dApps on the RSK blockchain.
Bitcoin Mining, pool Backs Rootstock Smart Contracts Effort
Buterin described Ether as simply a token useful for paying transaction fees or building or purchasing decentralized application services on the Ethereum platform. Rootstock :.0 million - Seed 21-Mar-2016 Financial Services, description: RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution.
Wilshire Coin, rootstock, software
In order to allow the drive chain mechanism to take its course, we must rely on Bitcoin miners to behave honestly when dealing with the release of locked BTC. Since RSK is connected to the most popular, secure and oldest blockchain there is it possesses an inherent advantage over other smart contract platforms, given that Bitcoin already has the biggest user base in crypto. It is not clear how far along the company is with the development. The token sale or exchange event is entirely unrelated to TokenMarket and TokenMarket has no involvement in it (including any technical support or promotion).
Rootstock Is Coming, Are Ethereum
Rootstock claims that it can help miners become more profitable, if the fees the miners earn for running Rootstock contracts will provide a significant boots to revenue. As soon as the car starts moving an insurance contract is entered into and when the trip is finished, based either on user input or on the preprogrammed destination, the insurance contract is terminated.
Brave New, coin
The platform will be backwards compatible with Ethereum. RSKs blockchain is secured by merge-mining, which means that we can achieve the same security as Bitcoin in terms of double-spend prevention and settlement finality. RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. Instant payments allow new use cases, such as retail store payments, and transactions in online games. Instead in order to pay for Rootstock transactions there will be a two way peg between the native Rootstock token called RTC, and bitcoin.