BRZ integrates with RSK and incorporates Bitcoin’s blockchain securitySeptember 1, 2021
Brazilian cryptocurrency is officially integrated with RSK, a blockchain that unites Bitcoin's security with Ethereum's smart contracts
BRZ, the world's largest stablecoin paired to a national currency other than the dollar, is officially integrated with RSK, a Bitcoin sidechain able to execute Ethereum's smart contracts. “RSK combines the best of both worlds: the security of Bitcoin and the power of Ethereum's smart contracts,” says Transfero's Blockchain Developer, Solange Gueiros.
With BRZ available on RSK, its holders will have lower transaction costs than on the Ethereum network. Currently, transaction costs on RSK are almost 2,000% lower compared to those on the blockchain created by Vitalik Buterin. On July 6, those costs were 3,000% lower.
The BRZ on RSK also incorporates the security of Bitcoin’s blockchain, considered the most stable and secure in the world. This is because generally more than 50% of the miners in the Bitcoin network also do the validation of RSK transactions. This represents a large hashpower (mining computing power) that brings the security of Bitcoin’s network to RSK.
This feature appeals mainly to Bitcoin maximalists, people who trust Bitcoin but not other blockchains. So with BRZ on RSK, bitcoiners can use Brazilian cryptocurrency on a network they fully trust. The BRZ is also already deployed on this blockchain integrated with wallets that use this environment.
BRZ on RSK opens up more possibilities on DeFi platforms
Since RSK has the ability to run smart contracts on the Bitcoin network, this opens up a huge range of possibilities for using the Brazilian cryptocurrency on DeFi (acronym for decentralized finance) platforms. Thus, using the BRZ in DeFi applications on RSK means harnessing the full potential of decentralized finance.
Currently, there are several DeFi products and protocols developed on RSK. Some, like RSKSwap, came from Ethereum; others, like Money On Chain, were created exclusively on RSK. Also, oracles like Chainlink as well as stablecoins are already present on RSK.
The integration of BRZ with RSK also provides greater flexibility of use for the Brazilian cryptocurrency. That is because since this blockchain can use the same smart contracts as Ethereum, they only need to be published on the RSK network.
Worldwide, the BRZ is the largest stablecoin paired to a national currency, other than the dollar, having reached in May of this year the mark of 1 billion tokens issued. With BRZ, you can move balances between international platforms in seconds via blockchain technology, and it is also a hedging instrument for digital assets.Back