What is RSK Infrastructure Framework?
The RSK Infrastructure Framework token or RIF is the official currency powering the Root Infrastructure Framework Open Standard or just RIF OS. The latter is a blockchain-based infrastructure for developing decentralized applications (dApps). It’s powered by RSK.
RIF mainly serves as a medium of exchange within the entire ecosystem of projects using the RSK Infrastructure Framework. This also includes decentralized applications (dApps) deployed on the RIF OS Marketplace.
Other use cases for the RIF token include prizes, grants, and bounties. In essence, it can be used to incentivize users for specific actions.
It’s important to note that the RIF token is ERC-20 compatible.
There is a max cap of 1,000,000,000 RIF tokens. In other words, RIF OS has a limited supply of RIF tokens. This could mean that as the RIF tokens become more scarce, the RIF price will increase.
RIF tokens have been allocated as follows:
- 40% - RIF Labs;
- 40% - Private Sale;
- 20% - Founding Team and Shareholders.
RIF OS held a Token Generation Event (TGE) in late 2018. This is when the entire supply of RIF tokens was generated.
There are no public sales associated with the RIF token. However, RIF OS hosted a private sale for the RIF tokens.
Since RIF is a cryptocurrency, it can be volatile. Stay informed with the help of our tracker which can be found above. It will provide a more in-depth look at the RSK Infrastructure Framework price history or the current RIF price on the graph above.
What are the Main Features of RSK Infrastructure Framework?
RIF OS is a blockchain-based infrastructure of protocols needed for dApp development. In essence, it provides an environment for all-things dApp building.
As discussed in the What is RSK Infrastructure Framework section, RIF OS is deployed on RSK - a smart contract network. There are several reasons for building RIF on RSK, however, it was mainly chosen for its security that stems from the Bitcoin network.
It’s well known that Bitcoin runs into scalability issues. RIF OS tackles this issue by deploying the RIF Lumino Network - a RIF-exclusive version of the Lightning Network.
In addition to improved scalability, Lumino increases transaction speeds and lowers costs. It’s also considered to be compatible with the aforementioned Lightning Network.
While the RIF token is ERC-20 compatible, the RIF OS platform is Ethereum compatible. To put it simply, this enables developers to seamlessly transfer their dApps from the Ethereum network to RIF OS and vice versa.
The entire RIF OS ecosystem is centered around Decentralized Sharing Economies (DSE). Its core services include:
- RIF Identity - an ID management tool with an integrated reputation system;
- RIF Payments is a blockchain protocol whose main function is to grant access to off-chain payment networks;
- RIF Storage is a decentralized storage protocol;
- RIF Gateways are blockchain interoperability protocols. Their capabilities revolve around facilitating interactions between blockchain networks and users;
- RIF Communications is a P2P network communication protocol. It enables users to communicate in a decentralized manner without compromising security or anonymity;
- RIF Marketplace is a decentralized marketplace where users can purchase decentralized services. For example, RNS Domains, storage, or blockchain notifications. Besides one-time purchases, RIF Marketplace also supports subscriptions.
One of the primary goals of the project is to accelerate the mass adoption of Decentralized Sharing Economies among individuals and, in turn, contribute to popularizing blockchain technologies.
Who Developed RSK Infrastructure Framework?
The idea behind the RSK Infrastructure Framework crypto project was born in 2016. It was officially launched in early 2018 by IOV Labs.
The founding team consists of 5 members - Sergio Demian Lerner, Diego Gutierrez Zaldivar, Ruben Altman, Adrian Eidelman, and Gabriel Kurman.
Diego Gutierrez Zaldivar is serving as the CEO of RSK Infrastructure Framework project. He has been in the web development industry for over 20 years. Besides RIF Labs, he also co-founded RSK Labs, SystemaD, Bitcoin Argentina NGO, and Restocoins.com.
Sergio Demian Lerner has been an active member of the crypto community since 2011. He currently serves as the CSO of RIF Labs. Other blockchain-based projects Sergio has contributed to include Coinspect, Coinfabrik, WayniLoans, ASICBoost, Identiva Security, and Pentatek.
In addition, the RSK Infrastructure Framework crypto project has managed to establish partnerships with major players in the crypto sector such as OAK Node and BitGive.
Before jumping into the project, don't forget to have a look at the RSK price on the graph above.