Important RIF and Rootstock Developments Have been Unveiled on Stage at Consensus 2023

Tim Paymans, VP of Product at IOV Labs, made numerous important bulletins at this 12 months’s Consensus occasion that promote the growth of the Rootstock ecosystem and replace the open-source Rootstock Infrastructure Framework (RIF) with a extra centered method.

Two important RIF developments had been disclosed through the dialogue:

5 complimentary Product Improvement Workshops can be found to corporations who need to create and market cutting-edge finance options utilizing blockchain know-how and the RIF protocols. Companions chosen for this system could have entry to Rootstock builders, product specialists, funding, and advertising help.

RIF has a brand new visible identification that higher displays its mission to hasten the creation of sensible, cheap, and scalable blockchain-based finance services and products.

On high of the Rootstock sidechain, it’s easy to create accessible and user-friendly monetary providers due to the RIF open-source assortment of instruments, applied sciences, and protocols. 

RIF was created to help programmers and monetary pioneers in resolving precise, day-to-day issues for customers. The gathering of open-source applied sciences serves as the muse for growing packages that allow secure, simple, and cheap methods to transmit, retailer, and borrow cash.

In his presentation at Consensus 2023, Tim Paymans detailed the motivation for IOV Labs’ creation of RIF and the way the corporate supposed to assist the event of the decentralized protocols going ahead:

Tim Paymans additionally disclosed that IOVLabs would start a $2.5 million grant program for corporations and builders to create DeFi apps on high of Rootstock, essentially the most safe, permissionless, and censorship-resistant Bitcoin sidechain on the earth. This information was along with the RIF developments. IOVLabs desires to assist entrepreneurs and founders assemble their monetary futures by offering 100 grants this 12 months. The beginning of the program is scheduled for the following weeks.

Pei Chen, VP of Development at IOVLabs, remarked on the information:

Companies, entrepreneurs, and builders might make the most of the open-source RIF suite to develop new providers or incorporate cryptocurrency into already-existing merchandise. They will additionally categorical an curiosity in working with RIF to collectively develop a product.

The aim of IOVLabs is to offer the groundwork for monetary inclusion.  As a part of its mission to create a safe and truthful world monetary system that enables everybody to take part and succeed, a part of this endeavor entails selling the event of decentralized protocols like Rootstock and RIF.