Topic: What about RSK? (Read 171 times)

At least, the project is alive thanks to the continuous support of the community. It won't be able to gain traction, but it'll be able to stand the test of time. RSK serves as an alternative smart contract platform for those seeking unmatched security reliability. Since RSK is a Bitcoin sidechain, it's much more secure than other existing platforms such as Ethereum and Cardano. If developers want the project to succeed, they're going to have to ramp up their marketing/promotion efforts. Otherwise, it'll slowly fade into oblivion as other projects gain all of the attention from people in the mainstream world.

To my surprise, two small projects have been working with the RSK sidechain. It's not much, but at least it's something. Whenever they'll benefit RSK in the long run or not, it's yet to be determined. With fierce competition in the crypto/Blockchain space, it's hard to believe RSK will gain traction in the future. Yet, anything could happen in this strange and bizarre world of crypto. As long as RSK remains decentralized, there should be nothing to worry about. Just my opinion

RSK will be able to compete with other projects, but the task of developers is to draw attention to themselves.I also know only two working products on the RSK that were mentioned above, but this is very small.

Agree. The RSK team needs to ramp up their marketing/promotion efforts if they want the project to succeed. The project is indeed old with years of research and development behind it. It was there before Wrapped Bitcoin came into inception some time ago. Now with WBTC in play, the future of RSK is uncertain. Developers should focus on bringing innovation to the smart contracts sidechain. Unique features should help attract people from WBTC into RBTC. But with new smart contract platforms "popping up" every once in a while, staying ahead of the game will be extremely difficult.

At least, there are two projects using the RSK sidechain. The more projects join the network, the better it'll be for its longevity. For now, RSK will be a "niche" smart contracts platform used by a very small number of people. As the network further develops, we'll be able to see the number of real use cases expand like never before. Who knows what the future holds for sidechains which rely on the main Bitcoin blockchain? Just my thoughts

As far as i know, RSK already released RBTC and i have been using it to invest in sovryn too. The problem is RBTC is not so popular as WBTC that issued on ethereum chain. The most difficult thing to attract users from another platform like ethereum tries to use a new platform like RSK. RSK is focusing on the smartcontract development for bitcoin side chain but these days their bunch of competitors was working in the same line.

I believe Sovryn is a defi project that is building on RSK. It looks interesting but outside of this I haven't seen to many others that are using this sidechain. Bitcoin sidechains such as RSK and Liquid haven't gotten much attention because they are not get rich quick altcoins. In order to use these sidechains' native token you need to have bitcoin locked up, it is not as simple as printing money out of thin air and giving it away for free to promote your altcoin.

Or maybe RSK is ahead of his time, been in the space for 3 years introduce PowPeg and yet people are late in reacting to it. Either they really don't know the technology behind, or technically, it's too complicated for them.

And when WBTC arrived, timing is perfect, we are in a bull run, easy for them to interact, that not technical, they heard the word "dApps", all good for them instead of RSK sidechain.

Let's hope it will not be lost to oblivion and became a failed experiment because it has real application as a sidechain.

With WBTC, there might be no need for a separate sidechain for Bitcoin users to enjoy all of the benefits of the Ethereum blockchain. I guess the RSK project came too late to the scene, as Wrapped Bitcoin is taking the world by storm. People would prefer to exchange their Bitcoin to WBTC to interact with dApps instead of using the RSK sidechain. The project needs to innovate in order to attract the masses. Otherwise, big players like ETH and BSC will stay ahead of the game. Who knows if RSK becomes a failed experiment in the long run?

Nonetheless, the RSK sidechain tells us that it's possible to expand Bitcoin's capabilities. The pioneer cryptocurrency could become an "All-in-one" solution if various sidechains with unique features are developed in the long run. Bitcoin users will be able to enjoy many of the benefits present in alternative blockchain networks by simply choosing a sidechain of their choice. We now have the RSK and Drivechain sidechains. More will come if Bitcoin's adoption increases in the mainstream world. At least the idea is there. The project is open source, so anyone can create another smart contract platform which acts as a sidechain to the BTC blockchain if RSK fails. WBTC does the job nicely, but it doesn't hurt to bring alternatives to the scene in order to ramp up the competition. RSK could find its place in the mainstream world if the project improves its marketing/promotion efforts. Just my thoughts

They didn't have to say that. An altcoin with a mere association with bitcoin, either by name or by feature, made people allergic because of the other projects that turned out to be scam/dead. If I heard about this project back in 2018 when everything is falling apart, I would have shrugged it off too.

As far as I can remember, they never sell themselves as a bitcoin killer, it's a sidechain.

Nevertheless, I can't see their social presence and they seems to be quiet as compare to the rest of cryptos who's currently been pump. And maybe there are really projects that can't seems to gain the needed traction and consensus from crypto communities even though if you look at it, the project is very good and the potential is really there. Sad to say, no one is supporting it right now except maybe hard core fanboys.

I've been thinking of reasons why projects like this didn't gain traction and this somehow explains it. They entered the market at a wrong time and they probably didn't have the popular figure in their team that makes people stick with them.

Another possible reason is associating the project to Bitcoin blockchain. Around 2017, there were so many projects that says they are the next bitcoin or bitcoin killer which ended up as scam/dead projects. People got tired of that.

Yes, it's been so quiet that we totally forget about this project.

They even introduce Powpeg in December 2020, but it didn't get so much attention from the community. And obviously, Wrapped BTC seems to be the one that investors wants at this point. But RSK I would say will take a while before investors realised how good this project is. It it not new, been in the market since 2018, but it doesn't have the traction so far.

RSK lack promotion and that makes people didn't know about this too. The bitcoin side chain less popular among crypto users while it has very cheap fees.
It's working very similarly to BSC chain. If RSK was not doing something good and then it will be stuck in the same place. RSK is a bit difficult to be implemented to the DEFI.
that's why sovryn makes me interested to see how it will be going on.

RSK (formerly known as Rootstock) is a new smart contract platform which act as a sidechain to the main Bitcoin blockchain. It allows you to essentially enjoy all of the benefits of Ethereum using solely your Bitcoin holdings. It's one of the most undervalued and underestimated smart contract platforms on the market today. While platforms like Polkadot, Cardano, and Binance Smart Chain are in the spotlight, their level of security, reliability, and censorship-resistance is not as comparable as Ethereum or even Bitcoin. Since RSK is a sidechain of Bitcoin, it can obtain the same level of security as its parent chain. This translates into safe and reliable dApps that are virtually immutable. Being directly compatible with the EVM, RSK should've been among the top ranks in market cap today.

What could've happened with RSK? Do you think the team needs to ramp up marketing/promotion efforts to increase awareness for the project? Will RSK be able to compete with existing smart contract platforms in the crypto/Blockchain space? Will it succeed or fail in the long run? Your input will be greatly appreciated. Thanks in advance.