RIF, the utility token for sensible contract community RSK, shot up over 30% in value after an appearance by its founder on the Jan. 13 version of The Pomp Podcast. The acquire equates to a $36 million improve in market cap for RIF, most of which has occurred within the final 12 hours.
$RIF up 20% now and it is just the start.
Constructing infrastructure on prime of #bitcoin
Probably the most safe community on the planet.
— TradingToolCrypto (@RealTradingTool) January 14, 2021
RIF, brief for “RSK Infrastructure Framework,” is the token used as cost for decentralized infrastructure providers which function beneath the RSK protocol, equivalent to e-commerce options and network bridges. Providers are bought at a market hosted by the community and are constructed utilizing RSK’s protocol. This renders them interoperable amongst a lot of sensible contract-enabled platforms like Ethereum and EOS.
Through the hour-long interview RSK and IOVLabs founder Diego Gutierrez-Zaldivar mentioned the origins of his fascination with Bitcoin, the genesis of RSK and IOVLabs, and why he’s assured that 2021 will likely be a productive yr when it comes to readying Bitcoin’s infrastructure for mass adoption.
He additionally fielded questions from listeners and supplied his opinion on a lot of scorching topics, together with censorship by service suppliers, DeFi, and what he thought the endgame needs to be for builders in his trade.
“The primary decentralized finance protocol is Bitcoin. The last word purpose is to offer all of the monetary providers that right this moment exist in centralized fashions, to offer them in a peer-to-peer, decentralized vogue.”
Gutierrez-Zaldivar praised Ethereum’s successes whereas reiterating his long-held perception that Bitcoin needs to be the bottom layer for improvement of sensible contracts operating on decentralized networks. His conclusion is predicated on six years expertise developing bridges to attach unbiased crypto platforms.
“I’m totally according to the goals of Ethereum. Perhaps the principle distinction is I feel the underside layer needs to be Bitcoin, since you want a retailer of worth that’s as censorship-resistant — as impartial — as doable.”
With a roadmap for RSK that extends over a decade into the long run, Gutierrez-Zaldivar careworn a long-term mindset for his firm and hopes that sooner or later it is going to be “an vital safety layer for the Bitcoin financial system and infrastructure.”
Gutierrez-Zaldivar believes that RSK displays a end result of advances made in decentralized software program and that in 2021 the entire parts essential for “crypto techniques to work precisely as fintech” can be found, with the final step getting the techniques to converge.
“These applied sciences have the potential of together with half of the inhabitants that’s excluded right this moment by the monetary system and due to this fact doomed to be poor without end, as a result of they don’t have the means to progress and develop. That’s why I feel that is so related and that’s why we’re doing what we do.”
On Jan. 6, Binance announced that it might record RIF buying and selling pairs. The value of RIF is at the moment up 40% because the begin of the yr.