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Rootstock

Rootstock (RBTC)

$ 78,823.33
0.18 %
Main info
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Market cap
$220.15M
0.18 %
Circulating supply
2,794 RBTC
Total supply
20,999,764 RBTC
Max. supply
21,000,000 RBTC

About Rootstock

Overview

RSK is the open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK goal is to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability.

Principles

The project has been conceived with the following principles in mind: Bitcoin Friendly We believe in Bitcoin. We support the Bitcoin community and we want to continue the legacy of Bitcoin´s pioneers. The lack of turing-complete smart-contracts capabilities may become an obstacle to Bitcoin´s growth to it´s full potential. RSK provides the missing technical needs, as a blockchain with a 2way peg to Bitcoin. As RSK does not mint, nor has pre-mined coins, then it has no speculative value and does not compete with Bitcoin.

Security

The security of RSK is our main priority. RSK´s blockchain is secured by merge-mining, which means that we can achieve the same security as Bitcoin in terms of double-spend prevention and settlement finality. The 2way peg security will first rely in a federation holding custody of bitcoins, and later switch to an automatic peg, when the community accepts the security trade-offs of the automatic peg.

Scalability and Instant Payments

RSK can scale far beyond Bitcoin in its current state. RSK scales to 100 transaction per second (same level as Paypal) without sacrificing decentralization and reducing storage and bandwidth usage using probabilistic verification and fraud proofs, as well as blockchain sharding techniques. Instant Payments Since the creation of Bitcoin there has been a race for faster transaction confirmations. Instant payments allow new use cases, such as retail store payments, and transactions in online games. RSK carefully chosen parameters and new theoretical protocols (such as DECOR+GHOST) allow creating blocks at 10 seconds average interval, with low stale block rate, and no additional centralization incentives.

Key data

updated $0
Market cap$220.15M
Volume 24h$0
Circulating supply2.79K0% of max 21M

Rootstock (RBTC) is a Bitcoin sidechain that brings smart contract functionality to the Bitcoin network. It combines Bitcoin's security with Ethereum-like programmability, allowing developers to build decentralized applications (dApps) on top of Bitcoin. RBTC is the native token used for gas fees and smart contract execution within the Rootstock ecosystem.

Frequently asked questions

What is Rootstock and how does it differ from Bitcoin or Ethereum?

Rootstock is a Bitcoin sidechain that enables smart contracts, unlike native Bitcoin. It differs from Ethereum by using Bitcoin's security model through merge-mining, while maintaining compatibility with Ethereum's Virtual Machine (EVM) for dApp development.

How does Rootstock's technology and consensus work?

Rootstock uses a merge-mining consensus where Bitcoin miners can simultaneously mine RBTC blocks without extra effort. It employs a federated bridge to move BTC between Bitcoin and Rootstock chains, maintaining 1:1 peg for RBTC.

How is RBTC issued and what's its supply mechanism?

RBTC isn't mined directly - it's created when BTC is locked in Rootstock's bridge contract. The supply is always equal to the BTC locked in the bridge, maintaining a 1:1 peg. No additional RBTC can exist without corresponding locked BTC.

How to store and use RBTC?

RBTC can be stored in any Ethereum-compatible wallet (like MetaMask) since it uses the same address format. To use it, you need to bridge BTC to RBTC via Rootstock's official bridge, after which you can interact with smart contracts paying gas fees in RBTC.