Thursday March 04, 2021
Bitcoin (BTC) $49,259.00   Ether (ETH) $1,579.04
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Blockchain Technology

RSK surpasses 45% of the hashing power of the Bitcoin network

Published by CryptoNinjas.net
02/14/2019
RSK surpasses 45% of the hashing power of the Bitcoin network

RIF Labs, the purpose-driven organization led by RSK Labs’s founding team and other top executives, has announced that the RSK platform has become the most secure smart contract platform in the world, and second most secure blockchain behind the Bitcoin blockchain.

As reported by the Crypto51 website, which aggregates data from Mine the Coin, CoinMarketCap, and NiceHash, the cost to execute a 51% attack on Bitcoin costs US$ 244,853. By surpassing 45% of the hashing power of the Bitcoin network, an attack on the RSK Smart Contract Network would cost approximately US$ 112,000 per hour.

This makes RSK one of the most secure and reliable platforms for developers to build their dApps, and proves that merge-mining can succeed in securing Bitcoin sidechains.

“With Bitcoin miners able to secure both the Bitcoin blockchain and associated sidechains at essentially no added cost to operations, not only can these layer-2 solutions be confidently built out, but it facilitates the development of layer-3 services -— such as RIF OS — which will be vital to scale Bitcoin and RSK to service tens of millions of users while providing peer-to-peer financial services, secure messaging, data storage, and other forms of decentralized services powered by Bitcoin.”

Diego Gutierrez Zaldivar, CEO of RIF Labs/RSK Labs

RSK brings smart contract capabilities to the Bitcoin blockchain with a two-way 1:1 Bitcoin peg. RSK recently celebrated its one-year anniversary with several notable achievements, including an increase in merge-mining hashrate from 4% to over 45%; more than 50 partnerships between RSK and key partners across several industry verticals; and the launch of the Root Infrastructure Framework Open Standard (RIF OS), which provides blockchain and non-blockchain developers with P2P infrastructure services and software libraries to support easier and scalable dApp development.

RSK Labs has also developed a double-spend protection method for high-valued payments (>30 minutes of confirmation) on merge-mined side-chains, requiring the sole assumption of good network connectivity. The method works by enabling RSK nodes to monitor RSKBLOCK tags on Bitcoin blocks in order to detect partially hidden and selfish chains of RSK blocks that could represent a double-spent attack preparation. With this development, RSK has closed a previously unsolved security gap between merge-mined sidechains and their mainchain.

“The new Internet of Value is emerging, and its future is brighter than ever as evidenced by the incredible progress the Bitcoin ecosystem had over the past year,” added Zaldivar.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

IOV Labs integrates Chainlink oracles within the RSK ecosystem
Networks & Protocols

IOV Labs integrates Chainlink oracles within the RSK ecosystem

08/31/2020
Bitcoin-smart contract platform RSK launches bridge to connect with Ethereum
Vendor Technology

Bitcoin-smart contract platform RSK launches bridge to connect with Ethereum

02/04/2020
IOV Labs and Coinsilium expand partnership to promote RSK and RIF platforms in Asia
Industry Deal

IOV Labs and Coinsilium expand partnership to promote RSK and RIF platforms in Asia

01/28/2020
dexFreight integrates RIF blockchain solutions to decentralize logistics
Vendor Technology

dexFreight integrates RIF blockchain solutions to decentralize logistics

01/20/2020
Money on Chain launches first Bitcoin-collateralized stablecoin on RSK network
Networks & Protocols

Money on Chain launches first Bitcoin-collateralized stablecoin on RSK network

12/12/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
CasinoCoin to migrate to XRP Ledger amidst rebranding

CasinoCoin to migrate to XRP Ledger amidst rebranding

03/01/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures

Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures

03/02/2021
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Crypto exchange BiKi cooperates with Hacken on security test

Crypto exchange BiKi cooperates with Hacken on security test

03/02/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version