Topic: Bitcoin-Based Ethereum Smart Contract and Sidechain Rival RSK Launches Today (Read 185 times)

RSK Labs has announced that the main network of their Bitcoin-powered smart contract platform is launching in beta on Monday after more than two years of development. The company claims to have secured the support of 90 percent of Bitcoin’s hashing power for merge mining the RSK sidechain. All developers are encouraged to take part in a bug bounty program during this beta phase.

The company’s Chief Scientist, Sergio Lerner, commented:
"We’re very excited to share the RSK mainnet source code with the community. It’s very important for us to get everyone’s feedback and peer review. The RSK project belongs to the whole ecosystem and we need to work together to build the Internet of Value over the Bitcoin Network."

"RSK allows bitcoin miners to increase their profits receiving fees from all smart contracts running on RSK with the same hardware, energy consumption and zero-efficiency loss in their so far primary business – the bitcoin mining."

"We at Slush have completed the merge mining implementation to secure RSK smart contracts while providing a new revenue source to our miners."

"A Bug bounty program has been released to the global community of developers inviting every blockchain programmer as well as audit companies and partners to be part of it, providing feedback and helping to improve the technology."

Source: https://news.bitcoin.com/bitcoin-ethereum-smart-contract-sidechain-rsk-launches/

They said that majority of Bitcoin miners supported RSK and it will be mined alongside Bitcoin’s blockchain in a process called merge mining that will increase the profiability of Bitcoin mining which is good but honestly I do not quite understand everything so I want to ask people who know about this.
What do you think about RSK? Thoughts? What will be the good and bad effects of this? Any impact on Ethereum?