Aofex

RSK and iExec Partner to Bring Smart Contracts to the Bitcoin Ecosystem

| Updated
by Alexandra Sayapina · 3 min read
RSK and iExec Partner to Bring Smart Contracts to the Bitcoin Ecosystem
Photo: Pixabay

The two companies have united their efforts to improve the most famous blockchain platform; the plans include smart contracts, near instant transactions and better scalability.

Bitcoin is definitely the most famous blockchain platform, but it does not mean that it is perfect. The team behind RSK believes that creating Turing-complete smart-contract capabilities for the Bitcoin blockchain may significantly improve the whole ecosystem. The platform has recently announced the partnership with iExec – company working on blockchain-based decentralized cloud computing. This collaboration has all the chances to become a beginning of the new blockchain boom as two companies are aimed at developing smart contracts and scalable computing provided by off-chain protocols.

Ethereum has done its best to popularize smart contracts. Today they are an essential part of the blockchain community. One of the examples of projects built on Ethereum smart contracts is iExec. This decentralized platform is developing the cloud computing network. The marketplace for cloud resources is beneficial for both developers and providers.

The iExec platform has gained lots of attention. Its native coin iExec RLC was not very popular when it was introduced to the public. But the early supporters turned out to be lucky investors as the coin has been trying to shoot to the Moon several times – and it succeeded. The latest significant boost of RLC’s market capitalization must be associated with its new collaboration.

iExec has partnered with a progressive RSK platform. This company is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining. It is the pioneer in the sphere of general purpose smart contract platforms secured by the Bitcoin network. The company has every reason to believe that bringing all the benefits of smart contracts to BTC ecosystem is a way to create a successful project. Especially, with the help of iExec.

Bitcoin is not only the dominant cryptocurrency, this is also one of the safest blockchain protocols. The collaboration of RSK and iExec significantly adds value to this platform. The companies have already declared their intention to bring to the users on the BTC platform smart contracts, near instant payments and higher scalability. The first steps are already taken: iExec deployed its smart contracts on RSK. However, this is just the beginning.

iExec is about to release its V2 – it is scheduled for the 29th of May. This event has already caused lots of discussions and the reason is clear: the new component opens the peer-to-peer market for cloud resources’ monetization. The partnership with RSK has seriously influenced the new release: all the RSK apps and smart contracts will get the ability to use the decentralized cloud. This approach has already proved its efficiency – Ethereum is an obvious example.

The collaboration of iExec and RSK is not only about creating trustworthy business relationship or multiplying the income. This partnership is working on the fundamental changes that can stimulate the development of the whole Bitcoin ecosystem.

News
Alexandra Sayapina

Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.

Related Articles