Etherparty, a block chain smart contract creation tool, and RSK, an open-source smart contract platform, announced yesterday a partnership to create awareness among people, publish original and curated content, and become the industry leaders.
Etherparty(FUEL) is a contract wizard that simplifies the process of creating, managing and executing smart contracts on multiple block chains.
The advantage of the platform is that it does not require users to have smart programming knowledge. The platform can be used to create an enforceable, self-executing digital agreement for all kinds of transactions.
Rootstock (RSK) is a smart contract platform connected to Bitcoin’s block chain network through side chain technology. The smart contracts are not deployed on the Bitcoin’s block chain network itself. However, RSK facilitates sending Bitcoin directly on to the Rootstock chain through a 2-2ay peg. It is then converted into smart Bitcoins on the Rootstock block chain.
To interact or deploy smart contracts and dApps on the RSK block chain, the RSK coins are used. The platform relies on merge-mining technology to secure its block chain. The technology allows Bitcoin miners to work on both the BTC and RSK, without any impact on mining. Thus, it can be understood that miners can reap both Bitcoin and RSK as a reward for the same computational work done by them.
Some of the major Bitcoin mining pools have already started supporting the system as RSK’s platform adds value to the Bitcoin ecosystem by facilitating smart contracts, near instant payments, and higher scalability.
Etherparty CEO Kevn Hobbs stated
“Smart contract technology will transform commerce in the years to come, especially considering the new and improved software this partnership will create.”
RSK Head of Business Development, Henry Sraigman stated
“We are putting blockchain technology at the service of social transformation to build a more flexible and inclusive financial system that will improve the life of millions of people. We are confident that education plays a key role in making it happen and we’re glad to partner with Etherparty, an industry leader company that shares our vision.”
FUEL, the token of Etherparty platform currently trades at $0.09. RSK platform has “no real” tokens or coins in real sense. Bitcoin should be bought to access the RSK blockchain and then create a lock transaction. That will place the Bitcoin in an unspendable address and allow a user to transact on the RSK block chain. The reverse should be done to unlock the Bitcoins. Thus, RSK coins has no speculative value and do not compete with Bitcoin. However, the platform is useful in real world applications.