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Manchester, England, July 8, 2024, Chainwire
Rootstock is seeing record usage and an influx of new partners integrating into its network.
Rootstock, the first and longest-running Bitcoin sidechain, has established itself as a leading blockchain with record-breaking transactions and several new dApps, bridges, and wallet integrations over the past three months. With this momentum, Rootstock has taken the next step in its growth journey, and the team is committed to further growth and improvements over the next 12 months.
According to block explorer data, there have been over 13 million transactions on the Rootstock network to date, which is a record-breaking 45,000 transactions per month on the sidechain. This data may provide insight into why Rootstock is a great place to start building on Bitcoin, with over 60% of the Bitcoin hash rate securing the network and 100% uptime since its launch in January 2018.
On the integration side, in the past three months alone, over 25 dApps and protocols have integrated into the Rootstock ecosystem, giving users new ways to access, build, and grow on Rootstock. The full list includes:
Going forward, Rootstock core contributors and community members have proposed a 12-month roadmap for Rootstock, with improvements and new features contributed by developers across the Rootstock ecosystem, allowing ecosystems built on top of it, such as the RIF ecosystem, to continue to develop new tools and protocols useful to Rootstock developers. This roadmap includes a number of Rootstock Improvement Proposals (RSKIPs) focused on increasing transaction speeds, improving usability, and decentralizing the network. Highlights include:
- We have significantly increased network speeds by reducing transaction confirmation times from 30 seconds to just 5 seconds.
- Enable non-custodial swaps between Lightning Network (LN-BTC) and Rootstock (RBTC) via Boltz
- Evolve PowPeg into a SegWit compatible 2-Way Peg, increase the number of entities overseeing Bitcoin transaction signing to 60, and reduce peg-out fees.
- A Bitcoin native asset bridge that allows Runes tokens to flow freely between the Bitcoin mainchain and Rootstock.
- Preparing to develop a truly trust-minimized Bitcoin/Rootstock bridge that leverages BitVMX and does not require changes to the Bitcoin consensus protocol
Henrik Jondell, CTO of RootstockLabs and core contributor to the Rootstock blockchain, reflected on the momentum of the past three months, saying, “The last three months have been pivotal to Rootstock’s successful growth, and we are very excited to see what the next 12 months hold. Rootstock has become one of the most used Bitcoin Layer 2s in crypto, and this quarter has seen its reach grow as it has increased functionality and accessibility.”
To learn more about Rootstock and its cryptocurrency ecosystem, users can visit their website.
About Rootstock
Rootstock is the world’s most secure smart contract platform, cryptographically linked to the Bitcoin blockchain. Known as a Bitcoin sidechain, Rootstock uses a censorship-resistant two-way peg to allow users to send Bitcoin directly to the Rootstock chain, which is then converted into Smart Bitcoin (RBTC) on the Rootstock blockchain. These RBTC can be used to deploy or interact with smart contracts and dApps on the Rootstock blockchain. BTC can be easily moved back to the Bitcoin mainchain at any time, either through a trustless bridge or through various protocols such as Sovryn FastBTC.
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