Here you will find the most frequently asked questions about RSK, its vision, technology and other aspects
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Merge-mining is a protocol that allows miners to mine on both RSK and the Bitcoin blockchains at the same time with exactly the same hardware and with no performance penalty. Therefore merge-miners can earn rewards on both blockchains. RSK has improved several open-source mining-pool software to enable merge-mining.
In the Bitcoin network, when two or more miners have solved blocks at equal height, there is a conflict of interests. Each competing miner wants his block to be selected by the remaining miners as the best-chain tip. All the remaining honest miners and users would prefer that everyone chooses the same block tip, because this reduces the block reversal probability. DECOR+ sets the right economic incentives for a convergent choice, without requiring further interaction between miners. The conflict is resolved so that:
- The resolution is agreed by all parties (consensus) when all parties have access to the same blockchain state of information within a time bound (synchronous).
- If the system is partially synchronous, the conflict is resolved as in Nakamoto Consensus.
- The resolution maximizes all miner’s revenue when the conflicting block revenue (fees) is much higher than the average.
- The resolution reduces the power of the miners to censor other blocks or transactions when the conflicting block has a reward close to the average.
- Resolving the conflict takes negligible time.
DECOR+, plus the “sticky” rule, is incentive-compatible (that miners gain nothing from withholding blocks) as long as the transaction fees are close to the average, and without miner payment side-channels. This last restriction means that the incentive-compatible property does not withstand miner bribery attacks, which can distort DECOR+ protocol incentives. This restriction also applies to any platform that provides “Turing-complete” virtual machines, such as Ethereum.
RSK Labs has published a RSKIP that increases the speed of propagation and verification of blocks. This reduces the incentive to start mining a child block without proper parent block verification. The DECOR+ protocol reward miners even if they keep mining sibling blocks for a few seconds until they are ready to create a child block.
RSK Labs has also published another RSKIP that permits the creation of child blocks even when the parent block has not been fully verified for up to two blocks in a row. However, reducing the network propagation time seems to be the best approach.
The merge-mining functionality allows Bitcoin miners to mine in both blockchains with little additional cost. Therefore merger-miners can earn extra rewards from the RSK smart contract.
Merge-mining is a process by which Bitcoin miners can mine both Bitcoin and RSK at the same time, with the same hardware and consuming the same electricity. RSK merge-mining uses the same cryptographic hash function as Bitcoin (SHA256).
RSK merge-mining is as secure as Bitcoin mining, but assumes a stronger property from SHA256, which is “freestart collision security” of at least 100 bits. This is because the RSK network uses a property of the Merkle–Damgård construction to compress the size of the SPV proof.
The RSK blockchain is secured by merge-mining, with some additional security measures. The RSK blockchain is mined by the Bitcoin miners, which are part of the largest and most reliable blockchain network in the world. Currently, more than 35% percent of the Bitcoin hash rate is simultaneously merge-mining RSK. On top of this, RSK Labs has published a RSKIP that proposes a solution where a set of notaries (some of the most renowned and trusted Bitcoin companies) will be able to provide an extra layer of security by issuing checkpoint notifications on the RSK blockchain. RSK nodes are not forced to follow the checkpoints, but can use this information to detect network-wide attacks and enter a safe mode. This subsystem sacrifices liveness(?) to increase safety, and can be compared to Bitcoin’s original alert system. In the case of RSK, the system is federated, rather than centralized, as in the case of the Bitcoin network.
The 2-Way peg is said to be a method to transfer BTC into RBTC and vice-versa. In practice, when BTC are exchanged for RBTC, no currency is “transferred” between the two blockchains. There is no single transaction that does the job. This is because Bitcoin miners cannot verify the authenticity of balances on another blockchain. When a user intends to convert BTC to RBTC, some BTC are locked in the Bitcoin blockchain and the same amount of RBTC is unlocked in RSK blockchain. When RBTC needs to be converted back into BTC, the RBTC get locked again in the RSK blockchain and the same amount of BTC is unlocked in the Bitcoin blockchain. A security protocol ensures that the same Bitcoins cannot be unlocked on both blockchains at the same time. This requires transaction finality, and that’s the reason the peg required hundreds of block confirmations for transactions that unlock BTC or RBTC.
When a Bitcoin user wants to use the 2-Way Peg, he sends a transaction to a multisig wallet whose funds are secured by the Federation. The same public key associated with the source bitcoins in this transaction is used on the RSK chain to control the Smart Bitcoins. This means that the private key that controlled the Bitcoins in the Bitcoin blockchain can be used to control an account on the RSK chain. Although both public and private keys are similar, each blockchain encodes the address in a different format. This means that the addresses on both blockchains are different.
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