The Resurgence of Rootstock (RSK) in the Cryptocurrency Sector

London, United Kingdom, March 21st, 2024, Chainwire

Capping a busy period for the cryptocurrency sector, the first and longest-standing bitcoin sidechain, Rootstock (RSK), is seeing renewed momentum after a recent surge of developer activity, integrations, and dApp launches.

Rootstock Leading the Way in bitcoin Sidechains

DeFi Llama has ranked Rootstock at the forefront of bitcoin sidechains in terms of total value locked (TVL), boasting over half of the entire value stored within bitcoin sidechains. The Rootstock ecosystem has been further enhanced with the addition of Symbiosis and Mean Finance for improved cross-chain swaps across many leading chains. Additionally, Router Nitro has facilitated fluid asset transfers, SolidityScan is conducting smart contract audits, and Asami has introduced a groundbreaking dApp to help web3 content creators monetize their social activity.

Exciting Developments in the bitcoin Ecosystem

bitcoin has continued to show resilience, with its price reaching an all-time high of $73,000, proving its sustained appeal and growing investor confidence. The recent developments in bitcoin layer-2 networks highlight the potential to expand functionality across bitcoin. Rootstock’s ranking by DeFi Llama as the leader in TVL among bitcoin sidechains is a clear indication of its importance in this space.

Since its launch, Rootstock has enabled the development of hundreds of apps on top of bitcoin, making transactions cheaper, faster, and more scalable. With over 60% of bitcoin‘s hash power securing the platform through its merge-mined consensus mechanism, Rootstock is recognized as the most secure smart contract platform globally.

Rootstock’s Continued Innovation

Integrated with key players like Uniswap and Router Protocol, Rootstock has achieved 100% uptime throughout its existence. Innovations such as Money on Chain, Sovryn, and Tropykus have facilitated the creation of cutting-edge products and services. Asami, a recent dApp on Rootstock mainnet, allows content creators to monetize their efforts in a decentralized manner.

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A wave of new projects and updates from the Rootstock community, including the upcoming Arrowhead 6.0.0 upgrade, highlights the platform’s commitment to ongoing improvement. The upgrade aims to increase ethereum compatibility and reduce transaction costs, solidifying Rootstock’s position as a leader in the bitcoin L2 space.

Rootstock’s ability to attract solidity developers from other leading blockchains, coupled with its EVM compatibility, has contributed to its growth. The platform has experienced significant traction since its launch, with over 2,700 bitcoin locked in its 2way Peg and over $250 million deployed across various dApps.

Rootstock Community Events

Rootstock continues to host global events for its community, offering valuable insights and networking opportunities. An upcoming event in Lisbon on March 21st promises to provide a platform for entrepreneurs, developers, and crypto enthusiasts to engage with the bitcoin ecosystem.

Contact: MR James Doyle
SkyParlour
[email protected]

Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended as legal, tax, investment, or financial advice.



### News source: cryptodaily.co.uk

By Team