Good contracts and off-chain computing are coming to the Bitcoin blockchain, thanks to a partnership amongst RSK and iExec.
RSK to Insert Good Deal Functionality to Bitcoin
The RSK project — which aims to build Turing-full clever-contract abilities for the Bitcoin blockchain — is partnering with iExec in an work to deliver off-chain computing to Bitcoin applications and afford decentralized applications the potential to access on-demand from customers and scalable cloud computing sources.
According to a Medium write-up from iExec editor Wassim Bendella, “the builders under RSK goal at adding value and functionality to [Bitcoin’s] ecosystem by enabling clever contracts, in close proximity to prompt payments and higher scalability.”
This seemingly would make RSK the 1st normal goal clever contract system secured by the Bitcoin network, as it takes advantage of BTC as its native currency by using a 2-Way Peg technique. Stated technique guarantees a mounted conversion amongst SBTC and BTC at a ratio of one particular-to-one particular.
At the identical time, iExec is hectic acquiring the self-proclaimed “first blockchain-dependent decentralized cloud computing network,” which “allows participants who will need computing electric power to meet up with all those who individual computing electric power, therefore supporting the most compute-intense blockchain applications.”
The Bitcoin blockchain …
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