RSK is an open-source smart contract platform built on the Bitcoin network, enabling the deployment of EVM-compatible decentralized applications (dApps) secured by Bitcoin's hashing power through merged mining. It allows users to leverage Bitcoin's security while facilitating seamless interactions with DeFi protocols and Ethereum-compatible smart contracts.
Funding
Funding not disclosed
Founders
Product
Problem
Bitcoin's scripting language has limitations that make it difficult to implement complex smart contracts directly on the Bitcoin blockchain. This restricts the functionality available to Bitcoin users, preventing them from fully participating in the decentralized finance (DeFi) ecosystem. Developers seeking to build sophisticated dApps often look to other blockchains, fragmenting liquidity and user base.
Solution
Rootstock (RSK) is a Bitcoin sidechain that enables the deployment of EVM-compatible smart contracts, allowing developers to build DeFi applications secured by Bitcoin's hashing power through merged mining. By pegging RBTC 1:1 with Bitcoin, Rootstock allows users to interact with DeFi protocols and Ethereum-compatible smart contracts while leveraging Bitcoin's security. The Rootstock-Ethereum token bridge facilitates asset transfers between the two networks, enhancing interoperability and expanding opportunities for developers and users.
Target Audience
The primary audience includes Bitcoin holders seeking DeFi opportunities, Ethereum developers looking to leverage Bitcoin's security, and dApp developers aiming to build on a Bitcoin-secured platform.
Features
- EVM compatibility, enabling deployment of Ethereum smart contracts on the Rootstock network
- Secured by Bitcoin's hashing power through merged mining
- Two-way peg (PowPeg) for converting BTC to RBTC and vice versa
- Interoperability with Ethereum via a token bridge
- Native Bitcoin asset (rBTC) for interacting with DeFi applications
- Rootstock Infrastructure Framework (RIF) services for Payments, Identity, and Marketplaces
- Support for oracles and indexers