With New Integration, Chainlink lands on Bitcoin sidechain RSK
Bitcoin (BTC) sidechain RSK will be equipped with Chainlink (LINK) oracles. This will allow developers on the smart contract-enabled chain to tap into market price feeds. It will also tap into other off-chain data to build their applications.
This allows Chainlink Node Operators to be paid with any token in the Eth blockchain. If they wish to be paid in LINK, they can. They need to go through the bridge to get those redeemed.
RSK uses a pegged version of BTC as its native currency. The peg process is facilitated by a federation. It is similar to solutions adopted by WBTC or Liquid.
RSK’s security and functionality relies on Bitcoin. But it is still a separate network. It has a different architecture. It heavily focuses on smart contracts. The project wants to capitalize on its generalized scripting capabilities. So it recently started branching out into broader interoperability and enterprise-focused solutions.
Recently, four major South Korean banks have partnered with Chainlink for a decentralized foreign currency platform.
Crypto Business World
CBW - External Analyst