The Bitcoin network ensures for the first time placing third-party tokens in the framework of the ICO. The initiative is made possible through a compatible sidechained; for the development and further support of the secondary network is responsible for startup RSK Labs.
Smart contracts RSK use the same programming language, and Ethereum, Solidity. Operations on the sidechained will be verified by a separate token, is tied to bitcoin — “smart bitcoins” or SBTC. The first company that will hold the ICO on the RSK platform, will become Temco — South Korean startup working in the market of supply chain management. The investment round will be held next month; it is known that the established upper limit amounts to $19 million. Participation in ICO is limited to investors from the US and China due to “legal risk”.
Temco plans to use your token to pay for products, services storage and access to tools for business intelligence. In addition, Temco integrates the tokens with their system of rewards the customer’s “points” will be converted to digital currency, then they can be used for General operational activities, including tracking of cargo and quality control.
Temco CEO Scott young (Scott Yoon) and head of business development Joey Cho (Joey Cho) explained why not choose the other environment for your asset. Entrepreneurs believe that other networks are not able to support the work of “real products”. Cho continued:
“We believe that the RSK is one of the best blockchain solutions because […] if we had placed their supply chain, for example, the Ethereum […], start with the fact that the gas fee is too high, that nepreemlemo for Temco, since we process large number of transactions on smart contracts.”
They also mentioned problems with Ethereum transaction processing and the vulnerability of the network to hacker attacks.
Other competitor Ethereum, Tron, today announced a large-scale network optimization. According to the CEO of Tron Justin Suna (Justin Sun), with this update, the blockchain TRON will be “200 times faster ETH”.
