The Argentine start-up RSK Labs announced the launch of the main sidechain's network for bitcoin smart contracts. Release of the beta version of the platform called Bamboo, took place in December 2017.
Bamboo is a sidechain of bitcoin with turing-full virtual machine that is compatible with the interface of decentralized applications of Ethereum. Blockchain RSK exists independently of bitcoin and at the stage of the test network Ginger generated blocks every 20 seconds, reducing this time to today by about 10-12 seconds.
The developers plan to use Lumino technology, so the network can reach 20,000 transactions per second. Confirmation of transactions, as they say in the white paper of the project, will take less than 20 seconds.
— RSK (@RSKsmart) 2 января 2018 г.
At the initial stage, the platform uses RSK tokens, also called smart bitcoins. Initially, they will be distributed between developers and companies in a limited mode, but gradually the limits will be removed.
Also, RSK Labs launched a bounty program to identify possible bugs and errors.
Note that the generation of blocks in the RSK network is conducted in the combined mining mode with bitcoin. Also, the developers say that in the future, the side-owner of Bamboo will be able to create smart contracts for the Litecoin network as well.
In 2018, RSK Labs developers also intend to implement so-called confidential transactions - a technology that allows you to hide certain data about transactions.