BRZ – the world’s largest stablecoin pegged to a national currency other than the dollar – is officially integrated into RSK, a bitcoin sidechain with the ability to run Ethereum’s smart contracts. “RSK unites the best of both worlds: the security of bitcoin and the power of Ethereum’s smart contracts”, says Transfero’s Blockchain Developer, Solange Gueiros.
Thus, BRZ holders will have lower transaction costs than those charged on the Ethereum network. Currently, transaction costs at RSK are almost 2.000% lower than those of the blockchain created by Vitalik Buterin. On July 6, these costs were 3.000% lower.
The integration of BRZ into RSK also incorporates the security of the bitcoin blockchain, considered the most stable and secure currency in the world. This is because generally, more than 50% of bitcoin miners also validate RSK transactions. This represents a large hashpower (mining computing power), which brings the security of the bitcoin network to the RSK. In addition, BRZ is also already embedded in this blockchain integrated with wallets that use this environment.
Integration of BRZ to RSK opens up more possibilities on DeFi platforms
Since RSK can execute smart contracts on the bitcoin network, this opens up a massive range of possibilities for using the Brazilian cryptocurrency on DeFi platforms (an acronym for decentralized finance). Thus, using BRZ in such applications at RSK means harnessing the full potential of decentralized finance.
Currently, there are several DeFi products and protocols developed in RSK. Some, like RSKSwap, came from Ethereum; others, such as Money On Chain, were created exclusively in RSK. In addition, oracles such as Chainlink, as well as stablecoins, also already exist in RSK.
Another highlight is that the integration of the BRZ into the RSK also provides greater flexibility, because since the blockchain can use the same smart contracts as Ethereum, they only need to be published on the RSK network.