It is as good as you just described but it's price is just insane right now lol.
They are still in test net era, the chances it may become as good (or better) than Etherum isn't gonna be in the next couple months or even years for sure unless they were mass adopted like Bitcoin or Etherum in their first days.
They are still in test net era, the chances it may become as good (or better) than Etherum isn't gonna be in the next couple months or even years for sure unless they were mass adopted like Bitcoin or Etherum in their first days.
Well, 1 RSK is worth the same as 1 BTC. But anyone could get access to it, by buying fractions of a coin. I believe that smart contracts operating on the "RSK" sidechain would require a very small amount of "RSK" just like it's the case with "ETH". We'll have to see which smart contract platform will be able to provide security/decentralization, as well as, scalability for true adoption of decentralized applications within the mainstream world. Since Ethereum was the first smart contract platform ever created, it has the most support from people worldwide. Other platforms may be better in terms of their technical design, but they lack branding/recognition in the mainstream world. The number of developers on the ETH blockchain far surpasses those on other competing chains like EOS, Cardano, NEO, and even "RSK".
It's no doubt that "RSK" is still experimental. A lot of years of research and development are needed in order to make "RSK" a robust smart contract platform that would "tackle" ETH and other competing chains in the crypto space. The fact that "RSK" is behind other big players on the market (ETH, EOS, etc.) means that it's very unlikely it'll become the leading smart contract platform in the future. At least, we have another alternative of the ETH blockchain to deal with. In case ETH or any other smart contract platform fails, we could resort to "RSK" as it's proven to be extremely secure against external attacks (thanks to its dependence on BTC's hashrate for security).
Nonetheless, I hope that "RSK" becomes widely successful in the future in order to increase the adoption of Bitcoin within the mainstream world. "RSK" adds up to the ever-growing list of sidechains leveraging the security of the main BTC blockchain. With it, Bitcoin can finally become a powerful smart contract platform like Ethereum within a couple of years from now.
I am not sure if that's what I think it is but I see there is a huge spike on RSK's marketcap in January. ($476k to $1,339k) The first one was in October 2019. (from $0 to ~$470k)
If this means what I think it does which is the locked BTC amount on RSK, then that means somebody started to use this finally.
If this means what I think it does which is the locked BTC amount on RSK, then that means somebody started to use this finally.
That's because RSK is pegged 1:1 to the value of 1 BTC. After all, it's called the "RSK Smart Bitcoin". If I'm not mistaken, it's the same token used on the "RSK" sidechain for the development and execution of smart contracts. It's like using the "BTC" cryptocurrency in a smart contract platform. Still though, I believe that the "RSK" platform is experimental. It may need some time of development and innovation if it wants to "tackle" the ETH blockchain anytime soon. But I doubt this will ever happen, since ETH is already in the lead of the smart contracts space. Developers would use something that's already established (tried-and-tested) than something that's untested and new to crypto land. But who knows? Maybe if developers care about decentralization/censorship-resistance, they'll migrate to the "RSK" sidechain instead? In crypto land where everything is unpredictable, anything could happen.
