Here you will find the most frequently asked questions about RSK, its vision, technology and other aspects
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Is it a matter of utility, and if so, what exactly is that utility? If a token was useful for selling coins that couldn’t be sold with RBTC alone.
This question has two sides as RIF is both a set of protocol standards and a token. RIF OS (RSK Infrastructure Framework Open Standard) is a suite of open decentralized infrastructure protocols that rely on blockchain based smart contracts to enable faster, easier and scalable development of distributed applications (dApps).
The initial protocols include Directory (a naming service protocol), Payments (an offchain payment protocol), Data (a data storage and streaming protocol), Communications (a secure routing, session and encrypted communications protocol) and Gateways (an interoperability protocol that includes cross chain transfers and oracling services). The standards also define interfaces that can be implemented as APIs and libraries that abstract and simplify the use of decentralized infrastructure (both blockchain and P2P) for any developer even if they don’t know inner workings or low level functioning of decentralized protocols.
This suite of protocols aim to solve the major problems that stop decentralized blockchain networks (ie: Bitcoin, RSK, Ethereum, etc.) from reaching mass adoption. From our point of view, the two main impediments are sustainable scaling (onchain scaling is possible but leads to higher maintenance cost for validation nodes and therefore to centralization) and developer usability (it can take several months for developers to learn how to use the technology and even mastering the tech, it’s very inefficient to build decentralized apps for the lack of a higher level protocol and reusable components).
Following the guidelines of RIF OS, a series of blockchain based P2P platforms are being built using RNS; an implementation of RIF Directory on RSK, the first to be launched. RIF Lumino, the first implementation of RIF Payments is launched, for more information and how to set up a Lumino node, visit RIF Lumino.
We wish to emphasise the utility of the RIF token within the RIF OS ecosystem.
The first and obvious use is to access all the services provided in the RIF OS ecosystem. To comply with the RSK Infrastructure Framework, providers have to at least accept RIF tokens in exchange for their services. On top of that, certain protocols use RIF token as the collateral that all service providers need to stake in order to offer services on the RIF Marketplace. This is key given the decentralized nature of these platforms, without an embed insurance mechanism, it would be impossible to ensure quality of service to the end users. Additionally, on some protocols the ratio between the collateral and the amount of contracts a service provider has will be used to dynamically distribute new service contracts among registered providers.
We also envision that in the not so distant future, other uses of the RIF token will arise surrounding the RIF marketplace. Two of the most relevant ones are the use of RIF token as collateral for the issuance of counterparty risk-free stable assets (ie: RIFUSD, RIFARS, etc) which can be used to denominate service prices in stable assets and the use of RIF token to settle transactions between RIF Payment Hubs without assets in common or sufficient liquidity.
We envision RIF OS in the long term, as a unified Marketplace for off-chain infrastructure services that can be consumed by every major Smart Contract enabled crypto-economy so although the RIF Token was initially created on the RSK Network, in the future it will be portable to other platforms like Ethereum or EOS. This will create economies of scale and strengthen the antifragility of the Decentralized Ecosystem as a whole, bringing our vision of the Internet of Value one step closer to realization.
Yes. Together with the RIF Wallet library RIF Identity is one of the most important components of RIF OS. It provides the basics to anchor identities on the RSK Network and later sign and exchange event attestations that later can be used to build reputational models. We are in talks with the top experts in this field (Sovrin, uPort and others) to define a joint standard.
Also, we have a working relationship with Microsoft who is part of the ID2020 endeavor and we’re partnering with the NGO Bitcoin Argentina, the Inter-American Development Bank and Accenture (another ID2020 member) to create and implement the first inclusive financial ecosystem built around reputational identity in the slums of Buenos Aires.
Would it be like IPFS? Will it use IPFS or some other similar and already working solution?
IOV Labs is working to have a unified API for storing and retrieving files, and support several storage networks. This is the RSK Data Storage protocol. For a first network provider, we looked at the existing solutions (Swarm, IPFS, Storj, Sia…) and decided to base it on Swarm and IPFS. Most of these protocols implement a variation of the following: a file uploaded is split into chunks and distributed in the network. When the file is requested, all the chunks are retrieved and assembled. Each node participating in this network is keeping track of data stored/provided for payment purposes. Of course RSK Data Storage will integrate with other RIF services like RNS to retrieve named files and allow mutability or RSK Payments for incentivisation. And in the future we’ll foster the integration of all successful storage networks under the same RSK Storage API and UI, so the user may be able to switch between storage network backends just by selecting the provider from a list, or even store a single file on several networks at the same time.
There was a mention on twitter a while back about possibly implementing Chainlink as an answer to Oracles.
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