Coinsilium, a blockchain technology investment and development company, has invested, and facilitated co-investment, of $100,000 in RSK Labs Ltd operating Rootstock smart-contract platform.

Rootstock, a sidechain aimed at raising functionality of the initial bitcoin network through smart contacts, is scheduled to launch in about half a year. By then, Coinsilium would own approximately 1% of RSK.



Rootstock uses tokens called Roots, which have no speculative value, live only on Rootstock’s blockchain and are convertible to bitcoins according to a fixed exchange rate.



"We're excited at the prospect that the Rootstock platform can potentially deliver the strength and security of Bitcoin with the smart contract capability of Ethereum," Coinsilium CEO Cameron Parry said, adding that jointly with its co-investor network Coinsilium contributed approximately 28% of Rootstock's initial seed funding round.



Rootstock's Chief Scientist and co-founder Sergio Demián Lerner claims that Rootstock provides bitcoin miners and mining pools with an opportunity to become a part of “the smart contracts revolution”. Lerner is known for adding many improvements to the bitcoin protocol and creating the very first smart-contract enabled cryptocurrency back in 2013.



According to a press-release, Rootstock was highly assessed by Bitcoin pioneer Nick Szabo, who called it “best of Bitcoin (currency and settlement system) + best of Ethereum (smart contract programming environment)” platform.



Coinsilium is a London-based investment and development company supporting early-stage blockchain start-ups by means of “investment, acceleration, development and education.” It was admitted to trading on an Exchange Regulated Market.



Earlier the possibility of using sidechains was announced by Switzerland's UBS.





Maria Rudina