As of May 31 , Lykke Exchange will enable deposits, withdrawals and trading of the RBTC cryptocurrency in the RBTC/BTC, RBTC/ETH and RBTC/USD trading pairs.

RBTC cryptocurrency profile — Why Rootstock? In brief.

Latin America, and especially Argentina, has been a breeding ground for successful entrepreneurs and developers ever since Bitcoin was created. Many seem to share a common vision and loyal support for cryptocurrencies, perhaps a consequence and reaction closely linked to decades of unstable and uncertain economic periods in the region. Rootstock is another prime example of these developments. Rootstock is a project which started almost four years ago and which can be most easily explained as an open-source smart contract platform (à la Ethereum) but built on top of the Bitcoin network.

As stated on the project’s website, “RSK is the first smart contract platform built as a sidechain to Bitcoin that rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the RSK Smart Contract ecosystem”. On SmartBitcoin, “RBTC is linked 1: 1 to Bitcoin (1 RBTC = 1BTC), and can be converted in a decentralized manner to and from BTC through the so-called “bitcoin bridge mechanism — RSK “, which links the Bitcoin protocols and RSK.”

At this point, the potential that smart contract technology harbors is widely known — even by people outside the industry — after it was popularized predominantly by Vitalik Buterin’s Ethereum. It was a successful launch and a constant development that inspired the RSK team to do what Ethereum didn't: give Bitcoin smart contract capabilities. This recognition is mutual and this is the reason why, among other things, the team has made it compatible with Web3 standards and Solidity, Ethereum’s programming language.

However a decisive, differentiating factor worth mentioning is the contrast between the mining mechanisms chosen to secure each network. While Ethereum will soon be moving to Proof of Stake (POS) — an innovative, yet still unproven technology for many — RSK is Proof of Work (POW), Bitcoin’s underlying consensus protocol that gives RSK’s team and community the most confidence and certainty moving forward, both in terms of stability and network security.

RSK also holds an impressive 45% mining support (with five major mining pools among them), a long list of partnerships and many wallet options available, including hardware wallet support. It is safe to say Rootstock has so far achieved enough recognition and adoption to be considered a key player and an alternative option for running and securing decentralized applications.

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