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RIF OS: Now you can create human-readable bitcoin domains with RSK

Posted: 20 November 2018 3:55 pm
News

Today bitcoin took a step towards being a real decentralised web platform with RSK (RootStock).

Meet RIF OS – the Root Infrastructure Framework Open Standard. It's a new framework released by RSK, the team aiming to bring RSK, formerly known as RootStock, smart contracts to the bitcoin network, following its acquisition by RIF Labs.

This new platform aims to make it much easier for both traditional and blockchain developers to create decentralised applications that are secured by the bitcoin blockchain. In other words, smart contracts that run on bitcoin. Dapps that run on RIF OS will accept the RIF Token for use, while the underlying RSK network will continue to be fuelled by smartBitcoins (RBTC) – tokens supported by a two-way peg to bitcoin. These are naturally needed as "gas" for the smart contract platform.

Today, it went live with the first of many features, including human-readable domain names for the bitcoin blockchain.



What's RIF OS?

"The launch of RIF OS is a huge milestone. I'm glad to be part of RIF Labs' effort to develop this open standard framework for developers. This is an incredible first step for us and I look forward to seeing more code being developed by the community to turn RIF OS Protocols into reliable, decentralised infrastructure services," says RIF OS CFO Alex Aberg.

So far, RIF OS's decentralised infrastructure services are starting with an RIF directory and RSK name services, which allow for domains on the bitcoin decentralised web. Just as the Internet's domain name system maps human-readable names to IP addresses, RIF maps domain names to the bitcoin blockchain.

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This is a significant aid in wider adoption of cryptocurrencies, RIF explains. It also allows a range of more direct applications.

"The use cases for naming in the context of financial inclusion and individual freedom are endless. Name services can first be used to simplify the transfer of assets by identifying transaction endpoints: people may have aliases to share with friends in order to be contacted securely or be paid. Also foundations may use aliases to transparently and securely identify donation addresses, or internal flows of funds to other institutions. Name services could be used to provide resource locators for decentralised Internet sites, storing pages over decentralise storage networks. Names are also used to identify any entity that collects reputation tokens that are public," RIF explains (PDF).

"Bitcoin set the foundation for the construction of a new Internet for the transfer of Value. Both the RSK Smart Contract Network and RIF OS were created as a means to move this vision further with the hopes that this new Internet of Value will foster prosperity and equality around the world," said Diego Gutierrez-Zaldivar, the newly appointed CEO of RIF Labs.

The RSK name service is available right now, and in the future, it will be joined by decentralised storage, third-party data feeds and oracle services, third-party off-chain payment networks, and RIF communications for secure and confidential blockchain communications.


Disclosure: At the time of writing, the author holds ETH, IOTA, ICX, XLM and BTC.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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