Bitcoin

While cryptocurrency markets began to show signs of improvement this week, the value of an alternative cryptocurrency project that has the goal of bringing Bitcoin (BTC) farther into the realm of decentralized finance (DeFi) dropped by about 80 percent.At the time of this writing, RSK Infrastructure Framework (RIF) is selling close to $0.189. This represents a 78% price increase from a week ago, when it was trading close to $0.106.The market capitalization of the 204th-ranked cryptocurrency asset has increased by 25% in in the past 24 hours alone.A layer-3 protocol has been constructed on top of Bitcoin as part of this project, which was initiated in 2019 by IOVlabs and based in Gibraltar.The goal of the RSK Infrastructure Framework is to broaden the applicability of bitcoin and provide a gateway that makes it simpler for individuals and developers to use bitcoin in decentralized financial applications.Rootstock is a blockchain that was developed with the intention of combining the safety features of Bitcoin with the smart contract capabilities of Ethereum. The platform is based on Rootstock (ETH).The price increase for RIF occurred at the same time as a prosperous week for Bitcoin.On Friday, Bitcoin surpassed $27,000 despite ongoing macroeconomic concerns surrounding the stability of the banking system in the United States. During the course of the past week, the cryptocurrency asset with the highest market capitalization has seen gains of more than 36 percent.Late in the month of February, RIF also introduced a cross-chain bridge known as the RIF Flyover protocol. Users of Bitcoin are provided with a decentralized access point to the Rootstock ecosystem, and vice versa. This is made possible via the protocol.

DeFi Altcoin Surges 78% in Just One Week As Bitcoin (BTC) and Crypto Markets Rebound

ItsBitcoinWorld

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