Manchester, UK, July 8, 2024, Chainwire
Rootstock sees record usage and an influx of new partners joining its network
Rootstock, the first and longest-running sidechain, has established itself as a leading blockchain in these three months, with record transactions and the integration of several new decentralized applications, bridges, and wallets. This momentum has propelled Rootstock to the next step of its growth journey and the team is working towards further growth and improvements over the next 12 months.
According to block explorer data, over 13 million transactions have occurred on the Rootstock network to date. This is the result of a record 45,000 monthly transactions for the sidechain. The data can provide insight into why Rootstock may be a great place to start building on Bitcoin, with over 60% of Bitcoin’s hash rate securing the network and 100% uptime since its launch in January 2018.
In terms of integration, in the last three months alone, over 25 dApps and protocols have been integrated into the Rootstock ecosystem, offering users new ways to access, develop, and grow on Rootstock. The full list includes:
- Artoshi; Bitget; Chainport; Dega; Etherspot; Galxe; Gelato; iZUMi; Kickspad; L bank exchange; LiFi; Merkl; oooo; OpenOcean; Rubic; Candle; Satoshi; SimpleFi; Steer; SuperLauncher; SushiSwap; Umbrella; UniFi;
Looking ahead, 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 developing new tools and protocols useful to Rootstock developers. This roadmap includes a number of Rootstock Improvement Proposals (RSKIPs) focused on increasing transaction speed, improving usability, and further decentralizing the network. Highlights include:
- Reduce transaction confirmation times from 30 to just 5 seconds, significantly speeding up the network
- Enabling non-custodial swaps between Lightning Network (LN-BTC) and Rootstock (RBTC) via Boltz
- The evolution of PowPeg into a SegWit-compatible two-way peg, increasing the number of entities overseeing the signing of Bitcoin transactions to over 60 and reducing external connection fees
- A Bitcoin native asset bridge that allows Runes tokens to flow freely between the Bitcoin mainchain and Rootstock
- Prepare to develop a truly trust-minimizing Bitcoin/Rootstock bridge that leverages BitVMX and requires no changes to the Bitcoin consensus protocol
Looking back on the past three months of momentum, Henrik Jondell, CTO of RootstockLabs, a key contributor to the Rootstock blockchain, commented: “The past three months have been an important time for Rootstock’s successful growth and we are excited to see how the next twelve months will unfold. Rootstock has become one of the most widely used Bitcoin layer 2s for cryptocurrencies and the increase in features and accessibility during this quarter has only helped to expand its reach.”
To learn more about Rootstock and its crypto ecosystem, users can visit its website.
About rootstockRootstock is the world’s most secure smart contract platform that is cryptographically connected 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 Bitcoins (RBTC) on the Rootstock blockchain. These RBTC can then be used to deploy or interact with smart contracts and decentralized applications on the Rootstock blockchain. BTC can then be easily moved back to the Bitcoin mainchain at any time using the trustless bridge or through a variety of protocols such as Sovryn FastBTC.
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This article was originally published on Chainwire
