RSK Labs has raised $1 million to further develop the first smart contracts platform secured by Bitcoin and fully compatible with Ethereum. This successful round allows RSK Labs to expand its current presence in Latin America to Asia, Europe and US, while securing the funding needed to ensure the complete execution of its roadmap.
The round is led by Bitmain Technology, the world’s largest bitcoin hardware mining producer, Coinsilium, a leading Blockchain investment firm based in London and Digital Currency Group, the prolific investor from New York,
RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK adds value and functionality to Bitcoin while creating the most robust and secure smart contract platform in the ecosystem. RSK connects the two most successful Blockchain platforms built to date – Bitcoin and Ethereum – to enable new smart contracting capabilities.
RSK Labs founders believe that decentralized Blockchains with smart contract capabilities will be the driving force behind global financial inclusion, new democratic political systems and the internet of things.
On this issue Barry Silbert, CEO of the DCG Group said:
“Our team at DCG feels that Rootstock developing is important for both the technical and business communities building on blockchain technology today, and will enable many new use cases that have not been possible to date”.
RSK Labs is led by Sergio Lerner, its Chief Scientist Officer, and Diego Gutierrez Zaldívar, its Chief Executive Officer. Sergio is a world-class security and cryptocurrency researcher. He created the first Turing-complete cryptocurrency Blockchain in early 2013, QixCoin, and collaborated to strengthen Bitcoin security as a Core team adviser. Diego has been leading Bitcoin adoption in Latin America for more than three years creating some of the strongest grassroots Bitcoin communities in the world. Their combined understanding of the technical, economical and social impact effects of Blockchain technologies have shaped the unique and transformative company culture behind RSK Labs.
Eddy Travia, CEO of Coinsilium, stated:
”I am very proud that Coinsilium supports the talented Rootstock team to develop a platform enabling smart contracts secured by the Bitcoin Blockchain which I see as an essential element in the transition to a world of Blockchain-based solutions for enterprises and public organizations.”
RSK private testnet will be opened by the end of April to a small number of miners, partner companies and users. During the following months, wallets, block explorers and further enhancements to the network will be implemented by the company and its partners and a public fully functional Beta testnet is expected to be launched in September 2016.
Meanwhile, the RSK team continues to strengthen its relationships with Bitcoin miners, who are a fundamental pillar of the project. RSK provides them with the opportunity to use all their installed capacity to run decentralized smart contracts while merge-mining RSK, creating an additional revenue stream in their current business model.
Wu Jihan, CEO of Bitmain Technology, commented:
“Rootstock is the most exciting opportunity for me among the startups in the Bitcoin ecosystem. The tidal wave of startups developing smart contract solutions based on RSK will bring countless miracles”
- Utrust Joins Forces with Alternative Airlines for Flight Bookings with Crypto - November 13, 2019
- Dark Web Drug Dealer Pleads Guilty To Using Cryptocurrency to Launder More Than $19 Million - November 13, 2019
- Dutch Police Bust CEO of Blockchain Game Firm, Komodore64 – €78 million Gone? - November 13, 2019
- Celsius Hits over $4 Billion in Crypto Loans – Leading the Industry - November 12, 2019
- Coinbase Introduces Staking Rewards on Tezos - November 6, 2019
- Volvo Cars to implement blockchain traceability of cobalt used in electric car batteries - November 6, 2019
- EU-Funded Acceleration Project, LEDGER, Offering Support Services and Up to €200k Equity-Free for Blockchain Data Governance Projects - November 6, 2019
- Global Financial System Regulators – the Financial Action Task Force – Issue Draft Guidance on Digital Identity - November 5, 2019
- David Chaum Releases XX Alpha Messenger Promising Unprecedented User Privacy - November 5, 2019
- Æternity Blockchain Developers Plan to Take On Ethereum With Final Hardfork – Handing over Governance to the Community - November 5, 2019
- Researchers Claim Cross-border B2B Blockchain Transactions set to Explode to $4.4 Trillion by 2024 - November 5, 2019
- Global Companies Unite to Unveil Comprehensive Framework for Tokenization – It’s About Time - November 5, 2019
- Microsoft Kicks Off Enterprise-ready Crypto Token Platform On Azure – Predicts Tokenization Is A Pillar Of The Coming Revolution In Multi-Party Applications That Blockchain Technology Ushered In - November 5, 2019
- Polish-British Blockchain Company Billon to Digitise Euro in Deal with Raiffeisen Bank International - November 5, 2019
- 500.com Limited Releases Intel on Blockchain Technology for China’s Lottery Industry - November 4, 2019
- Oxfam, Etherisc, and Aon Find Success with First Blockchain-Based Agricultural Insurance Policies for Smallholder Farmers in Sri Lanka - November 4, 2019
- Interview: Brock Pierce and Two Prime’s Alexander S. Blum - November 4, 2019
- Samsung Bullish on Blockchain – Pushing for Developers on New Samsung Blockchain Platform SDK - November 1, 2019
- Busted: SEC and CFTC Nail First Global Credit – a Swiss Security-Based Bitcoin Swaps Dealer That Allegedly Aimed at American Investors - November 1, 2019
- Zilliqa and Oxford Women in Computer Science Society Join to Bring Diversity to Blockchain Sector - November 1, 2019