Smart Bitcoin (RBTC) Intro
Rootstock is a smart-contract platform that incorporates a Turing Complete Virtual Machine to Bitcoin. It also provides other enhancement to the network such as faster transactions and better scalability, features that will enable new usage scenarios.
RSK is an evolution of QixCoin, a turing-complete cryptocurrency created back in 2013 by the same development team. RSK provides an improved payment experience with near instant confirmations. It achieves currently 300 tps and confirms most payments in less than 20 seconds. And yet, is still based on the same security guarantees Bitcoin has, supporting SHA-256d merged mining.
RSK works as a Bitcoin Sidechain. When Bitcoins are transferred into the RSK blockchain, they become “SmartBitcoins” (RBTC). SmartBitcoins are equivalent to bitcoins living in the RSK blockchain, and they can be transferred back to Bitcoins at any time at no additional cost (except for standard RSK transaction fees). RBTC is the base currency used on the RSK sidechain to pay miners for transaction and contract processing. There is no currency issuance: all RBTC are created from Bitcoins coming from the Bitcoin blockchain.
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