RIF Labs announced the launch of a Lumino

Sidechain Lumino, created on top of the main Bitcoin network, is a third-level payment solution with support for Ethereum smart contracts, officially launched. This was reported on Tuesday, May 14 at the Consensus 2019 conference in New York by the head of the research and innovation department of the Argentine company RIF Labs, Sergio Lerner.

Work on Lumino, which in some ways can be compared with the network Lightning Network, has been carried out over the past few years. The developed technology offers the possibility of performing off-transactions through the so-called state channels until users need to fix the calculations in the main Bitcoin blockchain.

Interested in learning how to use RIF? Join @dieguito & @SDLerner TODAY at 10:50 AM on their presentation entitled "Building on Bitcoin: Scaling Blockchain Technology to a Billion People". $ RIF #MustAttend # Consensus2019 pic.twitter.com/0fLtnKqz86

– rif os (@rif_os) May 14, 2019

According to representatives of the project, Lumino offers the possibility of almost instantaneous processing at transactional commissions in the amount of "share of cent."

In addition to the opportunities offered by the first cryptocurrency, Lumino also provides the ability to scale the volume of transactions tokens created in the RSK Network.

At the moment, according to the browser data of the RSK blocks , almost two dozen of such tokens have already been created.

RIF Lumino, a Network Enabling Payment Providers To Achieve Up To 5000 tps
On Top Of RSK & Bitcoin Has Launched. More info: https://t.co/mdh2WeKDyf $ RIF #MustRead

– rif os (@rif_os) May 14, 2019

According to Sergio Lerner, skipping the capacity of the Lumino network at the moment is about 5000 transactions per second. It is noteworthy that a year ago a project was presented that spoke of a rate of just 100 transactions per second.

Recall, RIF Labs, based in Gibraltar, acquired RSK Labs in January of this year.

A year earlier, RSK Labs launched the core network of a federated sidechain project with a turing-complete virtual machine that is compatible with the Ethereum decentralized application interface.

Earlier, in an exclusive interview with BlockchainJournal, the head of RSK Labs, Diego Gutieres Zaldivar, spoke about the startup philosophy, its achievements and future goals, and also discussed the general state of the cryptocurrency industry and the challenges it faces today.

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