Bitcoins Blockchain integration with Microsoft
The Bitcoin network has been evolving over time with new innovations and bringing financial freedom to the masses. Which has led bitcoin to develop second layer solutions like RSK, which is a Smart Contract solution very similar to what Ethereum offers.
According to reports coming from RIF Labs, it has announced that developers will now be able to launch RSK Smart Contracts on the Mainnet nodes of Microsoft’s Azure BaaS. This has made the RSK Smart Contract one of the few public blockchains to be supported by Microsoft’s Blockchain as a Service (BaaS) application.
The implementation of this Bitcoin Blockchain feature will enable users to deploy and configure an RSK blockchain network within minutes. This gets rid of the need to set up any local server and manually install the nodes, while maintaining its security. This will allow for Blockchain developers and non-blockchain developers to be able to learn and experiment at a low cost on the RSK network with more ease.
The Bitcoin RSK Smart Contract was built on top of bitcoin to be able to carry out the same tasks as Ethereum Smart Contracts. The two smart contracts are very similar in its ability to successfully execute smart contract deployments. These two types of smart contracts can be seen as two different consoles (Sony Ps and Microsoft’s Xbox) both with unique application capabilities and development opportunities. However, they are both Smart Contracts as much as these gaming consoles are built for video gaming.
According to the CTO of RIF Labs and Strategist, Adrian Eidelman:
“dApp developers can now focus on building their product since they don’t have to worry anymore about spending hours in setting up and maintaining the node. Microsoft’s support will be key to accelerate adoption of RSK technologies and the Bitcoin Ecosystem.”
Microsoft has been providing BaaS support for the enterprise blockchain for a few years now, including R3 and the Hyperledger Fabrics. However, this has been one of the very few cloud providers to have supported public blockchain developments. Making it a natural partner for RIF Labs to continue working on brining smart contract capabilities to the Bitcoin Blockchain.
Developing on blockchains with Smart contracts
Contrary to popular belief Bitcoin in it self is a Smart contract. The implementation of the bitcoin halving every 4 years along with its 21 million mining limit and consensus algorithm modeled off gold, is a smart contract. An agreement made with global computing power in order to carry out this task until the year 2140.
This brings us back to the developers environment that is provided by Azure’s BaaS network, which will allow Blockchain developers to learn and fail fast at low costs. Continuously making dApp experimentation on the RSK network with minimal upfront costs. While at the same time providing new opportunities to obtain mining rewards via storage rentals on nodes will prove to be very helpful.
This will be one of the key factores in maintaining a decentralised structure of the network. As developers will increasingly look to take advantage of the Ethereum like Smart Contract capabilities that will be secured by the hashing power of the Bitcoin Network.
The CEO of RIF Labs, Diego Guiterez Zaldivar stated that:
“Making development as easy and seamless as possible is vital to realising blockchain technology’s full potential. Microsoft’s endorsement of RSK Smart Contract Network is critical in bringing the gap to mass adoption, which in turn will help unleash the power of the Internet of Value.”
These developments are expected to start speeding-up in the coming months ahead, with the Microsoft Azure addition. As according to Sajan Parihar, Director at Microsoft’s Azure Platform stating that:
“Through Microsofts Azure Marketplace, customers around the world can easily find, buy and deploy partner solutions they can trust, all certified and optimised to run on Azure. We’re happy to welcome RSK Smart Contracts to the growing Azure Marketplace ecosystem.”
All optimisations on the Bitcoin RSK Smart Contract network is expected to get an increase in application deployment, in the coming months through this new partnership with Microsoft Azure platform.
What are your thoughts of the coming developments on the Bitcoin RSK smart contract platform? Please feel free to leave a comment down below.