• IoV Labs has launched its Rootstock Infrastructure Framework (RIF) Flyover to enable seamless Bitcoin (BTC) transfers.
• RIF Flyover is an open-source protocol that acts as a bridge to speed up BTC transfers through liquidity providers.
• The protocol uses non-custodial bridging methods, ensuring secure cross-chain transfers between Bitcoin and the Rootstock sidechain.
IoV Labs Launches RIF Flyover
IoV Labs has launched its Rootstock Infrastructure Framework (RIF) Flyover designed to enable seamless bitcoin (BTC) transfers. The open-source protocol would act as a bridge to enable faster transactions between the main Bitcoin blockchain and the Rootstock sidechain.
Non-Custodial Bridging Methods
RIF Flyover, known as a Repayment Protocol, is designed to enable smooth and quicker transfers between Bitcoin and the Rootstock sidechain through the services of third-party liquidity providers. Although Flyover acts as a bridge, it uses non-custodial bridging methods, unlike traditional cross-chain bridges. This ensures secure cross-chain transfers, as users do not need to give third parties access to their funds or private keys.
Benefits of RIF Flyover
By using RIF Flyover, users are able to quickly transfer coins from one chain to another with minimal risk of loss or theft due to malicious actors or mismanagement by third parties. Furthermore, this helps reduce transaction fees for users by allowing them access to cheaper BTC transactions on other chains such as Rootstock’s Ethereum Virtual Machine compatible platform.
RIF Suite of Protocols
The new solution is part of IoV Labs‘ suite of open source protocols called RIF which allows for faster development of decentralized applications (dApps). With RIF protocols in place, developers can implement dApps quickly without having to worry about security issues or scalability problems associated with blockchain technology.
In conclusion, IoV Labs’ new product launch will help make cryptocurrency transactions more efficient and secure while also helping reduce transaction fees for users when transferring coins between different blockchains.
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