Rsk Shared Node

The RSK cryptocurrency is classified as a buildup over Bitcoin protocol. Thanks to RSK, Bitcoin users can now access Turing-complete smart contracts. RSK tokens are used on the Rootstock platform which connects to the Bitcoin blockchain with sidechains. An RSK address is an identifier consisting of 40 characters. Rootstock associated BTC coins get an equivalent in Smart BTC (RBTC). RBTC can be converted to BTC at any time, just like BTC can be converted to RBTC. Transactions between RSK nodes take 30 seconds on average, not 10 minutes as Bitcoin does. The developers plan that due to the implementation of DECOR and GHOST protocols the time of the transaction can be reduced from 30 to 10 seconds. The bandwidth of the Rootstock network is 300 transactions per second and can be increased to 1000 transactions per second.

Mining in the network Rootstock occurs in parallel with Bitcoin mining, with no significant reduction in its speed. This procedure is called merge-mining. The award of public nodes for mining in RSK tokens is floating, and its calculation is described in DECOR+ protocol. RSK tokens have a 24 hour maturity period, only after that time can the miner spend the award. This is done to resist speculators who want to make a "pump and dump". At the moment about 40% of Bitcoin miners are practiced, bringing at once RSK and BTC. Also, miners get 80% commission for transactions in the Rootstock network.

The Rootstock network relies on a system of trusted Rootstock nodes to confirm RBTC and BTC communication. There are 25 of them in total, they are called semi-trusted third-parties (STTP). All 25 Rootstock nodes are part of the Rootstock Federation, linking sidechains based on Rootstock to Bitcoin blockchain. If any blockchain nodes provider finds out that a Sybil attack is happening on it, it must notify the other public crypto nodes. Anyone can install and run the full RSK node software to support the Rootstock network. There are no rewards for owners of such full public crypto nodes. Full RSK node software is available to download for Linux, Windows, and Mac operating systems. Full RSK nodes are also required to run different dApps.

The Rootstock network has already received various practical applications. The most useful feature of the Rootstock network is a virtual machine that allows you to execute smart contracts. Fuel for Rootstock virtual machines is paid in RBTC in the same way as in Ethereum virtual machines is paid with gas. Rootstock and Ethereum smart contracts have a lot in common and the syntax of writing programs is also very similar. Using Unitrie technology allows us to use 2600 times less space for storage of Rootstock blockchain than necessary for Ethereum. It is possible to provide anonymity between Rootstock nodes using the AppeCoin protocol.

RBTC coins can be stored in software wallets as well as in hardware wallets Ledger, Dscent, and Trezor. Regular program code updates are available for wallets and Rootstock nodes. Further project development is determined by voting. To be approved, the proposal must be supported by a board of governors with 5 representatives voting. 1 vote from the Rootstock nodes, 1 vote for the RSK nodes with the largest Proof of Stake deposit, 1 vote for exchanges and web wallets, who can delegate their representative in Rootstock Federation for this purpose. 1 vote have the Bitcoin Core developers and 1 vote – the Ethereum Foundation developers.