How much btc did rsk melt

①What is a Bitcoin sidechain

Since the concept of sidechain was first publicly discussed in 2014, this concept has received a lot of publicity from the Bitcoin community. Essentially, sidechains allow users to transfer bitcoins to and from the bitcoin blockchain and other blockchains with different functions.

Sidechains currently under development include RSK (Rootstock), an Ethereum-style and more flexible smart contract platform; Experimental approach; Bitcoin Hivemind, a blockchain-based prediction market platform.

To transfer bitcoins from the main chain to the side chain, these bitcoins will first be frozen on the main chain and then activated on the second chain; this is a two-way peg ). There are currently 5 well-known solutions based on who or what controls these funds frozen on the Bitcoin main chain for a two-way peg mechanism.

1. Single Custodian

2. Alliance Mode

3. SPV side chain

4. Drive chain

5. Hybrid chain

② What is cross-chain technology

Cross-chain, as the name implies, is to use technical means to enable value to cross the barriers between chains and carry out direct circulation. Cross-chain is essentially the same as currency exchange. Cross-chaining does not change the total value on each blockchain, just an exchange between different holders.

Cross-chain is a complex process, which requires the acquisition and verification of information outside the chain, and requires nodes to have independent verification capabilities, etc. There are four main implementation modes of cross-chain technology: notary mode, side chain/relay, hash locking and distributed private key control.

1. Notary Mode

Notary schemes are the simplest way to use chain-to-chain interoperability. Groups come to claim that something happened on chain A vs. chain B. A well-known application of the notary model is the Ripple Interledger protocol.

The Interledger protocol was proposed by Ripple Labs in 2012 to connect two different blockchains (bookkeeping systems) through a third-party “connector” or “validator”, enabling They are freely exchangeable for currency. In this process, the accounting system does not need to trust the “connector”, because the protocol uses a cryptographic algorithm to create fund escrow for the two accounting systems, and only when all participants reach a consensus on the transaction can they trade with each other.

Second, side chain/relay

The side chain is also a blockchain, it can verify the data from other blockchains, and can realize Bitcoin and other assets in the The transfer between blockchains has formed a new and open development platform. The Ethereum Raiden Network, a popular project some time ago, adopts the side chain technology. Participants using Raiden Network do not need to confirm transactions through the Ethereum main chain when transferring money to each other, but complete the transaction under the main chain through the creation of micro-payment channels between participants. The main applications of side chains are: RSK, BTC Relay, etc.

We have already talked about side chain technology. If you want to know more about the small partners, you can click here to review.

III. Hash locking

Hash-locking originated from the HTLC (Hashed TimeLock Contract) of the Lightning Network. It ensures that the transfer between any two people can be realized through a “payment” channel by forming a smart contract, completing the role of “intermediary”. Both parties to the transaction first freeze part of the money through smart contracts and provide an Hsah value. Who can match the Hash value within the contract setting time, then this part of the frozen money belongs to whoever.

Although hash lock realizes the exchange of cross-chain assets, and most scenarios can support the mortgage of assets, it does not realize the transfer of cross-chain assets, let alone cross-chain contracts, so its application scenarios relatively limited.

Fourth, distributed private key control

Distributed private key control (Distributed private key control) uses a protocol-based built-in asset template to deploy according to cross-chain transaction information New smart contracts create new assets. When a registered asset is transferred from the original chain to the cross-chain, the cross-chain node will issue tokens of the corresponding equivalent value to the user in the existing contract.

The operations to implement and release distributed control rights management are called: Lock-in and Lock-out. Lock-in is the process of realizing distributed control rights management and asset mapping for all digital assets controlled by keys. At this time, it is necessary to entrust a decentralized network to manage the user’s private key, and the user himself masters the private key of the proxy assets on the cross-chain. When unlocked, the control of the digital asset is returned to the owner. Distributed private key control masterThe required applications are: WanChain, FUSION, etc.

③ OPPO rsk mobile phone. How to restore when it is set to English

oppo mobile phone, you can convert English to Chinese in the settings, if you can’t consult the telecom department or the dealer, they will help you solve it.

④ When will rsk bitcoin be listed?

At least a few months later, rsk is a bitcoin side chain


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