BlocksInform
A crypto project that could push bitcoin (btc) further into the world of distributed finance (defi) explodes in price.
The infrastructure framework of altcoin rsk () has increased by 90% over the past 24 hours, to $0.15.
The project, which was initiated by iovlabs based in Gibraltar in 2019, built a layer 3 protocol above btc.
The protocol is designed to extend the usefulness of Bitcoin and provide a gateway that makes it easier for developers and people to use btc in challenge apps.
The platform is built on rootstock, which is a blockchain that aims to undermine Bitcoin's security with ethereum's intelligent contract capabilities.
The rise of the rif comes in the middle of the bitcoins build-up hype based on nfts, which exploded in popularity this month.
The project also released an updated roadmap on February 6th, detailing plans to push several products to mainnet and launch BTC-powered domain names.
The FRPRegs are now the 239th crypto asset on a market capitalization basis.
While the replacement currency has climbed 160 per cent in the past week, it remains 66 per cent below its historic high of $0.45 set in April 2021.
The RIF is not the only BTC-challenge part which is increasing. Year to date () has increased 121% over the past 7 days to $0.68.
