$RIF RIF token is the native cryptocurrency of the RSK Infrastructure Framework (RIF), which is built on top of the Rootstock (RSK) blockchain, a smart contract platform secured by the Bitcoin network.
Here's a simple breakdown:
Full form: RIF = RSK Infrastructure Framework
Purpose: RIF aims to create a suite of open and decentralized infrastructure protocols to enable faster, easier, and scalable development of decentralized applications (dApps) on Bitcoin.
Key services: RIF provides services like:
Name Services (RNS) – like DNS for blockchain
Storage
Payments / Lightning Network
Data Feeds / Oracles
Identity
Utility of RIF Token: It's used to pay for services within the RIF ecosystem (similar to how ETH is used on Ethereum).
"Can you also look at the chart shown below?"
#fully bullish zone