Bifinex exchange has just announced the introduction of RBTC trading on its platform. RSK Smart is the first smart contract network secured by Bitcoin. The Bitfinex official twitter handle stated earlier today: “We are excited to introduce trading for RSK (RBTC) – a smart contract platform secured by the Bitcoin network.”
— Bitfinex (@bitfinex) November 23, 2018
Bifinex, one of the largest cryptocurrency exchange in the world, says it will enable trading for RBTC against BTC and USD. While margin markets could be introduced “pending the development of a sufficiently liquid trading market.” RBTC is pegged 1:1 to BTC.
RBTC is the native token of RSK. It is used to pay gas to execute RSK transactions and smart contracts. The network provides scalability and reduces storage and bandwidth usage. It gives flexibility for instant payments such as retail-ready store payments and microcredits. This network, which is a two-way peg with bitcoin, rewards Bitcoin miners via merge-mining.
RSK aims to “add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability,” according to the company’s website. Bitfinex believes that the token might autonomously convert to/from BTC. Moreover, using the so-called 2WP that bridges the Bitcoin and RSK protocols.
Earlier this week, Bloomberg reported that Bitfinex could be under the scrutiny of the U.S. Justice Department. It says federal prosecutors might begin to home in on suspicions that there’s a link between Bitcoin, Tether, and Bitfinex. This might come into usage to move prices illegally. Moreover, Bitfinex has the same management team as Tether Ltd.
However, some people have expressed optimism on twiiter regarding the listing of RBTC. You can share with our Twitter community what you think about this new token listed on Bitfinex. Does the listing excite you too?