Rootstock Announced Its Combination with RIF Labs Project — Coinzdaily
Rootstock (RSK) announced their intention to merge with the RIF OS project, which will allow the company to expand the scope of activities. Cooperation announcements were published on both companies’ blogs on November 18.
As part of the announced merger, RIF Labs, a structural unit of RIF OS, buy out a similar unit of RSK, RSK Labs. It is worth noting that the RIF was originally launched by the RSK leadership, as a side project.
As reported, within the framework of cooperation, the RSK protocol will be developed and launched to support the Bitcoin and Ethereum networks. Also, the new protocol will contain a number of P2P functions. The official statement of the RIF states:
“The three principal components to the RIF OS announcement include the integration of RIF Labs and RSK Labs, the publication of RIF OS Protocols and the launch of the first implementation of the RIF Directory Protocol (the Name Services component of RIF OS). RIF Labs has signed an agreement to acquire RSK Labs. With this acquisition, RIF Labs will take on the development and community support of both the RSK Smart Contract Network and RIF OS Protocols.”
Speaking about the latest developments, the company representatives noted that the integration of RIF is an important step and will significantly “accelerate the adoption of open source blockchain technology worldwide.”