The RIF digital currency – is the currency of the RSK Infrastructure Framework, which is a decentralized open set of infrastructure protocols that leverage blockchain-based smart contracts to enable the development of decentralized applications more easily, faster, and at scale.
It is a third layer built on Bitcoin and includes identity, storage, communication, and payment layers to create decentralized sharing economies.
# The RIF digital currency project
RIF aims to create cooperative markets where individuals interact on a peer-to-peer basis through immutable smart contracts to exchange information, value, and services with full control and transparency.
The platform can be seen as a third-tier BTC solution that enhances the power of smart contracts.
The RIF digital currency is used to facilitate various transactions within the RSK ecosystem.
The underlying structure of RSK is open source and compatible with smart contracts. It is secured by the Bitcoin network. It also comes with a wide range of useful storage tools, communication protocols, and payment layers to seamlessly create decentralized sharing economies (DSE).
Stablecoin: By using the RIF on Chain protocol, users can access RDOC, a stable asset pegged to the US dollar and secured using the RIF digital currency.
Additionally, RSK Swap, an automated liquidity protocol, facilitates seamless real-time value exchange for users.
The platform also allows users to send/receive RIF, BTC, and RBTC along with some other values using a local storage application called RWallet.#RIF
