Author: Kella Pacquiao, Philippines
An early milestone was set by the RSK’s first time to develop the sidechain which called Lumino.
RSK or past known as Rootstock, is a startup that aims to produce an ethereum-style smart contract to the cryptocurrency ecosystem.
At the 2018 conference of Coindesk’s Consensus, the tech company is releasing new details about the bitcoin users who will support the experimental project.
The project was launched this year’s January and was said that the sidechain is constricted.
However, Gabriel Kurman, the co-founder of RSK Labs, put his faith for the project in his talk with CoinDesk:
“It’s a major announcement for bitcoin as a whole. This 10 percent is coming from 80 percent of the total mining pool power.”
According to the CoinDesk’s reports, around 80 percent of miners have pledged to give their support for the development of Lumino.
The sidechain is designed to be “merged-mined.”
It allows miners to contribute hash power to the sidechain and get compensated by transaction fees while using the same mining equipment and power necessities in their crypto activities.
Kurman added this:
“RSK has massive support from the mining ecosystem because it adds a new revenue stream for them.”