Rootstock BitcoinPrice

(RBTC)

Rootstock Bitcoin, commonly referred to as RBTC, is the native cryptocurrency of the Rootstock network. Rootstock is a decentralized smart contract platform that operates as a sidechain to the Bitcoin blockchain. Launched in 2018, it is considered one of the earliest Layer 2 solutions for Bitcoin, designed to expand the network's capabilities beyond being a simple store of value. The primary purpose of RBTC is to provide Bitcoin with the functionality of a smart contract platform like Ethereum while maintaining a direct connection to the Bitcoin network. It acts as the fuel or gas for the Rootstock ecosystem, similar to how ether is used on the Ethereum network. Users utilize RBTC to pay for transaction fees and execute smart contracts on the sidechain. A core technical feature of RBTC is its 1:1 peg with Bitcoin. This means that for every RBTC in existence, an equivalent amount of Bitcoin is locked on the main Bitcoin blockchain. This connection is maintained through a mechanism known as the Powpeg, which is a secure, decentralized bridge that allows users to move their assets between the two chains. When Bitcoin is transferred to the Rootstock network, it is converted into RBTC. If a user wishes to move their assets back to the main Bitcoin network, the RBTC is burned on the sidechain and the original Bitcoin is released. Security for the Rootstock network is provided through a process called merged mining. This allows Bitcoin miners to secure both the Bitcoin network and the Rootstock network simultaneously using the same hardware and energy. Because it leverages a significant portion of Bitcoin's total mining power, Rootstock is often cited as one of the most secure sidechains in the Web3 space. Rootstock is compatible with the Ethereum Virtual Machine, which means that developers can use familiar tools and programming languages like Solidity to build decentralized applications on top of Bitcoin. This compatibility has fostered an ecosystem of decentralized finance protocols, including platforms for lending, borrowing, and trading, all of which use RBTC as their primary unit of value. In summary, RBTC bridges the gap between Bitcoin's security and the programmability of modern smart contract platforms. It enables a wide range of Web3 use cases, such as decentralized finance and complex digital agreements, without requiring changes to the base Bitcoin protocol. By providing faster transaction times and lower costs compared to the main Bitcoin chain, RBTC enhances the overall utility of the Bitcoin ecosystem. Learn more

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