Place/Date: Gibraltar, United Kingdom - October 5th, 2021 at 2:00 pm UTC · 4 min read
Source: Rootstock (RSK)
Rootstock (RSK) is a smart contract platform secured by Bitcoin’s hash power through merge-mining. The project makes inroads in El Salvador, a country recently embracing Bitcoin as legal tender. Over 700 commercial outlets will use Kripton Market, built on RSK technology, to sell products and services priced in BTC.
Making Bitcoin legal tender is a pretty important deal for El Salvador. Doing so introduces new opportunities for service providers leveraging Bitcoin’s network to make a meaningful impact. One such solution is Kripton Market, a decentralized marketplace built on the Rootstock platform. Through this online marketplace, anyone can offer products and services to Bitcoin users across the country of El Salvador.
To date, 150 stores have enrolled to experiment with the Kripton Market and, through the agreement with Procom and Innovacion y Desarrollo which will be incorporating Kripton Market to their software update, another 564 stores will be added. Moreover, every supporter will bring more utility to Bitcoin in El Salvador, whether it is through sending payments, paying for goods and services, QR code payments, and door-to-door shipments.
All of the participating businesses in the Kripton Market have many associates, creating a trickle-down effect for Kripton Market. Besides the 700 stores reached directly and through Procom and Innovacion y Desarrollo, Kripton has made a preliminary agreement with 29 cooperatives, among them Acomi, Comedica, Acofinges, and Bancovi that have a network of over 509,000 associates to evaluate the platform confirming a massive market to tap into. Moreover, one can find the participating stores in San Salvador, La Union, Cabañas, San Miguel, Ahuachapan, Juayua, La Libertad, Morazan, and San Vicente.
This campaign also focuses on educating the merchants and the general public of El Salvador. Solutions built on RSK provide a convenient and accessible gateway to making the most of this new form of money in the country.
The following RSK-based solutions will all participate in the El Salvador campaign:
With the help of these partners, the team will organize various meetups and training courses throughout El Salvador. Education on Bitcoin and how RSK makes everything more accessible will create the foundation for broader cryptocurrency usage.
RSK blockchain is the most secure smart contract platform in the world, secured by Bitcoin’s unparalleled hash power via merge-mining that adds value and functionality to the bitcoin ecosystem by enabling smart contracts, near-instant payments, and higher scalability.
The network scales to up to 100 transactions per second without sacrificing decentralization and reduces storage and bandwidth using probabilistic verification, fraud detection, and more. RSK Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment to enable mass adoption of Bitcoin and RSK.
Kripton Market is an online marketplace focused on offering products and services to bitcoin users. Among its objectives is to promote a global, decentralized, inclusive, and secure economy. At Kripton Market we make people send value using the internet, in the same way, they send an email, regardless of their place of residence, if they have an account in a bank or if they use different currencies.