We are pleased to announce our next AMA on January 19th 2021 at 12:00 PM UTC Time: Satoshi Club x RSK
⚠️Click to see the hour
⚠️Total Reward pool: $1000
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join RSK Telegram group
We will have the following structure:
Part 1: 150$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 150$/10 users – Open chat for 100 seconds. You can post Max 3 questions. RSK Team will select 10 questions and answer them.
Part 3: 700$ – A quiz about RSK
For more details:
RSK – @rskofficialcommunity
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
Marketing is the main factor that helps the project to prosper. So what is your strategy for attracting customers and developers to #RSK in the long term?
question:
Why does the RSK Blockchain chose to be around the Bitcoin Ecosystem and set it as the Priority?
question:
What is the difference between RSK’s 2-way PEG vs RSK’s Token Bridge Interoperabilty?
RSK protocol addresses the issue of scalability in blockchain by deploying the Lumino Transaction Compression Protocol (LTCP) in the RSK Smart Contract onchain layer, which has the ability to decrease transaction sizes 5 times, and in return increase scalability as much as 3x. You said this can help improve transaction speed as much as 2,000 TPS on the sidechain. Is this solution only available to the RIF Lumino Network second Layer Payment Channel Network (PCN) alone or covers the entire RSK Protocol transactions? Also, how can LTCP be implemented successfully without cutting back on user’s privacy or other security features?
RSK network is described as the first open source Smart Contract platform secured by the Bitcoin Network and it is also said to be highly compatible with Etherium at various layers. I can’t seems to marry these two points together. Can you explain how you are a Bitcoin secured network compatible with Etherium? Are you a hybrid of both chains and what functions of RSK network can be integrated with Etherium? Also, since most general smart contracts on Etherium are designed using solidity and Bitcoin scripting language may not be supportive of this, which language are employed in the development of your smart contracts?
We know that Bitcoin is the iconic network of decentralized finance, but it has problems with scalability and number of TPS. Doesn’t this affect the financial ecosystem that RSK has built on Bitcoin? How do you solve this current problem and carry out your operations and transactions efficiently and without delays while maintaining security?
At the top of your website, there’s a statement that caught my attention: “Building on Bitcoin to plant the seeds of a new global financial system. What strategies do you have in mind to bring this new financial system to all the people of the world? How will you facilitate access to your secure network for the unbanked?
What is the structure of the smart contracts that RSK has built for Bitcoin? How will these RSK contracts add value and functionality to the Bitcoin Contracts ecosystem, and in turn enhance and protect the value of people?
There are some smart contracts that take time to react when making a payment and this is not attractive, how fast or instantaneous is the action of RSK smart contracts in terms of the constant movements of the Bitcoin market?
As Bitcoin is a 99% decentralized and autonomous cryptocurrency, it is difficult to have updates and innovations unless they come from the community, what is the strategy of RSK smart contracts to add value and functionality to Bitcoin taking into account the few developments currently owns BTC?
I was reading on your website that it is possible to earn interest through RSK smart contracts, what has been the registration or movement of RSK smart contracts during the BTC transition from 20k-40k and what has been the positive aspect this season in trading?
You have highlighted in one of the posts posted in your community that multiple RSK peer scams have emerged. What has happened recently regarding RSK peer scams and what actions have you taken to avoid these misfortunes?
Platforms like RSK generally use a very large storage system to work unlimitedly with the data without any loss. Have you considered using a storage rental service or does RSK have enough capacity to continue operating without limits?
I have heard that RSK has some flaws to improve in terms of security model and PowPeg. What negative effects do these errors bring to your services and what solutions or updates have they developed to correct this?
There is a project established in the RSK roadmap that caused me curiosity, it is called Armadillo v2.0 … the armadillo is one of my favorite animals hahaha What is this project about and why is it called Armadillo? will generate this for RSK?
The RSK platform must have a constant flow of data and I suppose that the validation processes are endless. How high is the level of security, immutability and traceability in the data validation processes within the RSK ecosystem?
I think RSK needs the support of organizations willing to promote the benefits of blockchain technology. What platform does RSK use to obtain a constant flow of organizations interested in blockchain and how do they intend to unlock the power of value networks?
I read about Powpeg Federation which is made up of community members and some blockchain companies whose duty is to secure the RSK Hardware Security Module (HSM) and the RSK 2-way Powpeg which assist in the signing of the release transaction on the Bitcoin side. What conditions do you look at when selecting these Powpeg Federation members? Since each Powpeg Federation member has a set of public keys (used for Bitcoin multi-signatures, and others used for authentication and private communications) and can maintain control of others authentication private keys, how have you designed the system to protect the integrity of the RSK network in case a bad egg infiltrate the federation? Do you have or plan to introduce other alternative solution?
You provide your users with a large number of wallets to choose from. It wasn’t easier to pick one, but so that it combines all the necessary features to meet the needs of your ecosystem?
Why are these wallets and platforms that you offer good for you?
How is RSK related to platforms such as GiveTrack, Circles of Angels, SeSocio, MoneyOnChain, 88i, dexFreight, ActivΦs mmp?
On your website you state that “RSK is the most secure contract platform in the world”. That is a very powerful statement and one that certainly draws attention! My question is, what technology and security mechanisms does the RSK platform use to have such an incredible security? What makes your contracts invulnerable compared to those of the competition?
In the RSK roadmap for 2021, one of the first goals you have set yourself is with the implementation of BEGINSUB, JUMPSUB and RETURNSUB operation codes, and also with BLS12-381 curve operations. For those of us who are not experts in blockchain technology, could you explain to us the function of these two features that you have included in your roadmap, and what are the advantages that these will bring to users and to your platform?
Every day more and more companies are starting to get interested in the world of blockchain and cryptocurrencies. Which are the business sectors that would benefit most from using RSK Enterprise Cloud? Can all types of companies make use of your services or have you designed the system for a specific sector? How easy is it for a company to integrate RSK Enterprise Cloud into its IT systems?
Can you tell us about how RSK approaches node diversity? How many nodes does a healthy protocol need?
How can I retrieve my token from my jaxx wallet, which was the only one with RSK addresses, when the RSK key existed?
Is RIF really necessary for building RSK? Why issue RIF tokens? Why not use RBTC evenly?
What is the role of the PowPeg Federation? What value does it have?
Is it realistic to expect RSK to move away from PowPeg federation mode in the medium term future?
Is there an incentive to run a Lumino or RSK node for non-miners?
7.Is there a step-by-step guide for node configuration and mining?
How is the RSK blockchain protected from double-spend attacks?
RSK is safe from miners who abuse the gas system to acquire resources at low cost as in Ethereum?
Is RSK safe for users using blockchain resources (CPU, bandwidth, storage) for free?
How do confirmations on the Bitcoin blockchain compare to confirmations on the RSK blockchain?
Is there going to be an easier (more automatic) way to convert from BTC to RBTC, without going through an exchange?
Can you talk about the effect that the ETH-RSK bridge has on the ecosystem?
Could you let me know which was the major vulnerabilities you found was ther most critical one in Bitcoin?
In looking over the whitepaper there is both “Smart Bitcoin”, RBTC, and the native token, RSK, which appears to be only to pay for tx fees/gas. Is there a reason that RSK is truly necessary, or in theory could everything have been done with RBTC?
Why did you decide to use open source? I understand that it has many advantages, but everyone can create their own copy of the platform, wallet or open source application and inject malicious code. How secure is your platform?
Q: How is the RSK peg system different from Liquid’s?
Q: Do you trust the RSK federation functionaries? Why?
From a user standpoint what are the advantages or disadvantages one could draw from it?
Q: Do you see RSK gaining traction and do you feel it’s already become a true part of BTC ecosystem ? And do you feel supported by other parts of bitcoin community, like Square, the different Lightning teams or Core ?
It is a bit complex to have an infrastructure that is easy to use and offers a good interaction with developers. What is the design of RIF services in RSK for the global community of developers and how do you guarantee a satisfactory interaction in your services?
RSK Infrastructure Framework has a good vision about how the internet can evolve but what contributions does your creation of blocks bring in decentralized collaborative economies and what means do they use to protect the value of people?
I read about an RSK system called Merged Mining and I didn’t understand what they mean by bidirectional bridges. How do RSK bidirectional bridges work and what use are they within the BTC ecosystem?
Bitcoin is using pow mechanism and you are implementing a pos on top of it. And because your block times are way faster than BTC, after you transfer the BTC to R-BTC, will it be possible to transfer it back to BTC anytime the investor wants?
The oracles subject is becoming very popular because of the advantages of connecting with precise off-chain data in a real time, therefore, RIF has integrated Chainlink Decentralized Oracles into the RSK Ecosystem, why did you choosed Chainlink?
When I research about the RIF Marketplace, all I read is about Storage, Communications, Data Services, Name Services, and other features that proves a variety of decentralized services, the question is what is the capacity of storage of this services? Are all this features adaptable to the needs of each consumer?
I’d like to ask you about Merged Mining with rsk. When a bitcoin miner starts to mine rsk’s sidechain, what will he get from this? Does he get only rsk from this mining or is it possible to get both BTC rewards and rsk rewards at the same time. Could you please enlighten me?
⭕️ The combination BTC + Smart Contracts is not something really new, there exists other types of BTC SM integration like renBTC, so can you explain which unique scenarios usages will can be done with your “ERC BTC”?
The RSK website says clearly that is “the most secure smart contract platform in the world” so can you explain with security elements do you have to support such sentence?
Thanks to RSK the BTC users will be able to Lend and Borrow, but how exactly the BTC are integrated to Smart Contracts? Collaterization or a sythetization?
Slow transaction throughput and expensive gas fees are common issues that Ethereum DApps have to face. What are the improvements RSK propose to fix these problems? Can you explain the mechanisms you will apply to tackle those problems?
The RNS feature allows users to have a domain instead of a long and unreadable address, but is it the only utility of the RNS or there are more advantages of the alias? Also, are the users the ones that choose their names as if they were Telegram usernames?
The RBTC is two-way pegged to the BTC. Can you explain what does that mean and how we can trade RBTC for BTC and vice versa? How can this two-way pegged token be created without intermediaries since Bitcoin does not support smart contracts?
I must admit that RSK has a quite complete and detailed documentation (I think for reading days) but I would like to ask directly about the RSK core, that is Bitcoin. The truth is that although its currency is one of the most attractive to invest, its network is very little used and named in the DeFi protocols, the main reason is that it was not thought for this initially, very different from what happens with Ethereum or Polkadot. So, why choose Bitcoin? What potential have you seen that you haven’t seen in other DeFi protocols or ecosystems?
You claim with complete certainty that you are the most secure intelligent contract platform in the world. What evidence do you have to support this? What do you base this claim on?
Is there any utility of rbtc tokens apart from paying fees? do you think this token is also suitable for investment, or do you recommend the other one (RIF token)?
I found in the FAQ that Tps is 11 tx/sec and in the future will be 100 tx/sec (on chain). Are there any attempts to improve beyond this? considering other blockcain can be up to 1000 tx/sec
I read that RSK project is a fork of an Ethereum codebase and the interesting thing is people said that ETH and RSK is like twin brother, but what makes you different with Ethereum? Do you have any unique feature that Ethereum not have?
What is the marketing strategy to attract more users?
There are a wide number of projects with the same purpose as yours. What do you do to defend yourself against the competition and become the leader in smart contracts in the world?
What are the special, unique aspects and advantages of RSK that differentiate it from the rest?
I’ve seen in your roadmap the becoming of Armadillo v2.0, I can’t avoid to think about an armor, how is this system going to protect the RSK platform?
RSK’s goal is to add value and functionality to the bitcoin ecosystem, is this even possible? What is the role of this project at the Bitcoin functionality?
RSK project have ever do AMA with Satoshi Club on July 2020, there must be so much update from last 6 month. So can you please tell to us what new update that RSK have for now? As I know from 1st ama, RSK plan to port RIF token and RIF marketplace to other crypto economies (EOS, Cardano, eth classic) how is it going for now?
It strikes me that your product offers two-way communication with Bitcoin, while on the other hand, at the programming level, they say it is very similar to etherium. What are these interesting design decisions behind?
Do you have plans to develop your own wallet manageable from android and iOS?
The waiting time to transfer from BTC to RBTC is simply unaffordable. Is it expected that in the future this feature can be improved? Considering that ease of use should be one of the main characteristics of a product, how do you expect to cope with this difficulty?
One of your key services is “rif Storage”. Storage is a service which needs to be handled seriously. How will you perform this service? Will it be centralized or a distributed approach by some collaborations? What measures will you take in order to provide a secure and uninterruptible service?
According to your documentation RSK connects to Bitcoin in two ways, through Merged mining and through 2-way peg. What’s the reason for using two BTC connection mechanisms? Doesn’t this increase the probability of making a mistake and affect the security and performance of RSK?
Has RSK Blockchain been designed strictly to work with Bitcoin? Or does it have the potential to scale to connect or work with other blockchains?
Why is RSK based on development in BITCOIN? Why not build on other successful cryptocurrencies? Is finance really safe and transparent in Bitcoin? How is this possible ?
Really the ‘’ Smart contracts of RSK Blockchain
for Bitcoin ‘’ Are they completely stable and beneficial? How is it possible that RSK is the most secure smart contract platform in the world and with very fast payments?
How is it possible that the RSK Enterprise Cloud platform achieves: high level of security, immutability (which are fundamental for data transparency and validation) and traceability?
what is the relationship between the RSK project and bitcoin, so you call combined mining bitcoin, and why did you choose bitcoin for RSK exchange and for shipping costs, currently bitcoin is so costly. Does your token affect the price of bitcoin?
Can you tell us some basis that RSK is the Most Profitable Bitcoin Merged Mined Platform?
Can you explain a little bit about Merged Mined? How profitable this mining program would be? Aside from Bitcoin, do you plan to add more currency for mining in Merged Mining in RSK? Thank you
Rsk helps the Bitcoin ecosystem grow in the areas of scalability, functionality and interoperability.So can you tell us what is the connection of RSK to Bitcoin? Why did RSK focusing with Bitcoin ecosystem growth? What are the benefits does RSK gets by favoring Bitcoin?
Is a $RBTC token designed only to pay for transactions within RSK or what other utilities it has? How do we get the most out of it?
What is the step-by-step approach to start investing in RSK? How can I get more out of my BTC? Do I buy $RIF or $RBTC?
What type of daily activity does rootstock see compared to eth? Is there a website comparing like number of txs, or btc/eth/value locked in smart contracts?
What are your plans and contributions to foster RSK decentralization?
Is the RIF token essentially ERC20 on the Rootstock network? I was under the impression that there is some fee/founder’s reward as well – is that true and is that paid out in RIF tokens?
Was rWallet created by you or the community? What features does it have? Is it possible to buy a RIF token inside the wallet for different cryptocurrencies without the participation of centralized exchanges?
I see that you have a mobile rWallet, but apparently you do not have your own browser wallet or extension. In the Rif Marketplace, I am offered to connect using MetaMask. What can be purchased in your Marketplace? Will there be a connection to your own wallet, or at least a convenient interface for select a wallet. I have some rBTC on Math Wallet, but I do not see an option to connect it on the Rif Marketplace page
The rest of the blockchain like ETH, tron and more provide their users much more rewards, but they don’t really empower their users like RSK of the bitcoin chain right? but what do you mean “empower”? will it be many more tools?
All the smart contracts of the different blockchains are said to be the “safest”, right? But are RSK contracts really the safest? why just for being from the Bitcoin chain?
does the BTC blockchain really provide decentralization for RSK? Because since there are very few projects developed in this chain and these are centralized, I came to think that they could only develop Cex platforms, is that true?
One of the problems of being a btc holder is that withdrawing money from one platform to another requires high fees, will it be the same with RSK? or how to reduce them using the same blockchain?
really to implement a “new system global financial “is it necessary to be built with Bitcoin? I understand that it is the most solid cryptocurrency on the market, but why not being able to develop that financial system with other currencies as well?
really what functionality does “Merged Contracts Mining “and the” bidirectional plug “in RSK? Certainly without them it would be impossible to connect to the BTC blockchain?
If really the bitcoin blockchain is the “most secure, immutable and transparent”, then why make it fully compatible with the Ethereum network? why not just give RSK totally independent functionality?
In the decentralized projects of the ETH blockchain, it is very common for the governance to be directed by the community, in RSK that uses the BTC blockchain, will governance by the DAO community also be supported?
With RSK’s infrastructure and its completely decentralized Internet, will they be able to fully build any type of platform? both decentralized exchanges and high-performance platforms?
RIF Lumino Network is a third-layer solution to the Bitcoin Blockchain. What opportunities open up when using the third layer? This is a bit surprising to me, because everyone knows about projects trying to fight against fees and low speeds on the Ethereum network using the second layer.You already the third layer based on the main cryptocurrency. It must be something fantastic :))
RIF Payments providing fast, scalable, and low-cost off-chain payments, could it compete with or even replace payment networks like PayPal or Visa?
Can you please tell me the branding structure of IOV, SSR, RIF. Will RIF and SSR become one organization in #RSK?
Do you have plans to add support for smart contract programming languages other than Solidity in the #SRK?
How exactly do the 2-way pegs work for RBTC and Is there a correlation between the BTC address and the #RSK address even though it looks like an ETH address?
This is a project that seems to avoid the “wen lambo” mentality, so I apologize for this topic but I’m curious how you see the token price being affected by adoption, and the connection to rif.
Is rbtc basically a pegged bitcoin token, whereas rif (token) is a method of investment exposure? I.e. is it the rif token that will be affected by the adoption/success of rsk?
What Is The Main PROs Over Blockstream’s Liquid (RSK Main Competitor)?
I have a few questions, hopefully you can answer them all:
1) Is there a DEX where RSK tokens can be easily listed on? Recently it was discussed in the telegram group, wondering if you could share some more light into it?
2) Should dApps set up their own nodes?
3) What is RSK scalability plan based on?
Again thank you very much for doing this AMA, looking forward to your responses!
I read that RBTC is a native token from RSK mainnet and pegged with BTC 1:1, its really interesting but what is the real use of RBTC ? And how to get this RBTC? Is it from token sale?
You are claiming that RSK is the most secure contract platform in the world. How did you come to this conclusion? What is the difference and advantage of RSK Contract to the popular Eth Smart Contract?
On your telegram, you said Bitcoin is layer one, RSK is layer two and RIF is 3rd layer solution , can you please describe what is the different between these layer and what is the benefit that user (your community) will get?
I understand the marketing of Rsk as the most secure smart contract network in the world but can you explain how do the platform can empower people and improve the quality of life of millions as your website says.? Is there some kind of case study that RSK did that can back up this statement?
What hardware do we need to acquire to run the RSKj software and what OS will you recommend to run the RSK nodes efficiently?
The smart contract language is Solidity , I am still not getting the idea why using this language instead of hunderds others ? May I know why have you headed to this one ?
Thanks
So RBTC is used to pay gas fees for both Smact Contract execution and for Ethereum, so I am paying double fee or what ? My fee will be higher than usual with this way right ? Can you please explain this point for me , as I am still not getting it
Thanks
Expand functionality to the Bitcoin ecosystem by providing smart contracts and greater scalability, the clarfication is too short , and I still I don’t know al all the functions your project are trying to provide so can you please tell me more functions you provide ?
RSK have been working on a decentralized infrastructure for Bitcoin for many years. Tell for non-tech users what you have already developed that i can use daily? What big things from RSK are waiting for us in the nearest future?
Does RSK compete or collaborate with projects like Stacks? What are your similarities and differences?
If, for example, I want to build infrastructure for a certain area in the city, it will be difficult if its residents are against it. What is your relationship with Bitcoin maximalists? Criticism, ignorance or complete understanding? What people is your community primarily build from – bitcoiners or altcoiners?
RSK is said to be compatible with Ethereum network at different layers. How does RSK integrate these layers for the community