RSK: Bitcoin-Secured Smart Contracts

Published on
February 22nd, 2021
Duration
54 minutes

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9

RSK: Bitcoin-Secured Smart Contracts

The Interview - Crypto ·
Featuring Diego Gutierrez Zaldivar and Sebastian Moonjava

Published on: February 22nd, 2021 • Duration: 54 minutes

Diego Gutierrez Zaldivar, CEO and founder of IOV Labs, joins Sebastian Moonjava, Real Vision associate crypto editor, to discuss RSK, merged mining, and the different layers in the Bitcoin technology stack. Zaldivar describes RSK as extending Bitcoin, enabling it to become a full financial system and support automated agreements by using smart contracts. RSK is merged mined with Bitcoin, meaning that blocks of RSK are mined simultaneously with Bitcoin blocks using the same hardware devices. This allows RSK to utilize most of the existing Bitcoin miners for securing the RSK sidechain—making it nearly as secure as Bitcoin itself. RSK shares the security infrastructure of Bitcoin, utilizes Bitcoin as its native currency, and brings Ethereum-style smart contract capability to Bitcoin. Filmed on February 4, 2021.

Key Learnings: RSK brings smart contracts to Bitcoin, and merged mining enables RSK smart contracts to be secured by the Bitcoin miners. RSK’s native currency is Bitcoin, enabling its smart contract platform to benefit the Bitcoin ecosystem and potentially its value.

Comments

Transcript

Chapters

  1. 00:01:12
    Background
  2. 00:09:05
    What is RSK?
  3. 00:13:27
    Layers of the Blockchain Stack
  4. 00:19:55
    Merge Mining and Security
  5. 00:26:14
    RSK and Ethereum
  6. 00:33:26
    RSK Compared to Other Bitcoin Projects
  7. 00:40:43
    Can Bitcoin Have Smart Contracts on Layer 1?
  8. 00:44:04
    RSK Roadmap
  9. 00:47:31
    Wrapped Bitcoin
  10. 00:49:58
    Final Thoughts

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