RSK was the big hope of 2017 and one of the largest disappointments in the blockchain industry. The sales pitch was fantastic - Write Smart Contracts for Bitcoin. Which developer wouldn't want to write dapps for the most secure blockchain with the largest amount of users and the best brand? We were very excited about its launch, and so were the bitcoin-like chains, e.g. Litecoin (LTC) and Verge (XVG), who wanted to launch smart contracts as well. Even some Ethereum tokens, such as Civic, planned to move from ETH to RSK chain as soon as it was launched.
- Ticker: none, pegged to BTC
- Consensus: Proof of Work, merge mined with Bitcoin (18% hashrate)
- Block time: 33 seconds
However, having received $7.3 million USD in funding from a Venture Capital firm, the Argentina based RSK Labs failed to develop their software in time, failed to convince Bitcoin miners to run their merge-mining software, and failed to provide a trustless way to convert BTC from mainnet Bitcoin blockchain to RSK sidechain and back. The only way to obtain their RBTC was to use RSK Labs owned bridge service for which you had to pass KYC. Thank you very much, nobody needs KYC bitcoin.
Right now RSK Labs is simply slowly burning through the $7.3M that they have raised pretending that there are users on their chain and that somebody needs it. At this moment we strongly advise against developing on this chain.
So where should you develop? Which EVM blockchains is best for you?
Luckily there is no shortage of EVM chains available for us to review! All chains that one day may dominate the dApps space and feature Saturn Network, such as CLO, RSK, ETC, TRON, ADA (Cardano) and many others. Learn more below.
Future is bright!
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