First Bitcoin sidechain marks major technical milestones one-year after launch

RIF Labs, the purpose-driven organization led by RSK Labs’s founding team, is celebrating the one-year anniversary of the launch of the RSKSmart mainnet with a report highlighting its progress since.

Following its launch in 2018, the growth of RSKSmart in its first year of service has set the stage for continued momentum in 2019:

“The founding motivation of the RSK Smart Contract Network was the creation of the Internet of Value, a network of networks that takes the vision and values of Bitcoin one step further – an open network where individuals can transfer value from point A to point B without intermediation, which is one of the main reasons for inequality our world,” said RIF Labs CEO Diego Gutierrez Zaldivar, who was CEO of RSK Labs prior to the recent acquisition. “There is still much to achieve in the years ahead, but the growth and development we’ve seen with RSK since its official launch last year is a positive message for Bitcoin, RSK, and the ecosystem as a whole despite market conditions.”

For 2019, the focus will be on further developing RIF OS-compatible service providers, running on top of RSKSmart – helping bring the ‘Internet of Value’ and its potential to enable financial equality and prosperity around the world to fruition.

In addition to the launch of the RNS, other protocol implementations planned for the RIF OS include off-chain payments, data storage, data feeds, and secure communications. And as the first Bitcoin sidechain, one of the main priorities for RSKSmart will be continued work and collaboration on blockchain scaling efforts – including further build-out of the Shrinking-Chain scaling solutions proposed by the RSKSmart team in 2018.

[perfectpullquote align=”full” bordertop=”false” cite=”RIF Labs Chief Scientist Sergio Lerner” link=”” color=”” class=”” size=”16″]“There are still many technical challenges we need to overcome to achieve our goal of financial inclusion across the globe. However, I’m very happy of the significant progress we’ve made over the past year with RSK’s launch. I only expect our progress to continue in year two, particularly in scaling the RSK blockchain with both on-chain and off-chain improvement proposals,  an improved core, and the launch of the RIF OS, and I’m looking forward to the continued development of critical decentralized infrastructure services on RSK.”[/perfectpullquote]

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