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Summary of Rootstock Smart Bitcoin
- Rootstock’s native token is RBTC, also known as “Smart Bitcoin”
- RBTC is pegged 1:1 with BTC (1 RBTC = 1 BTC)
- Rootstock is a Bitcoin sidechain with EVM-compatible smart contract functionality
- Rootstock is permissionless and censorship-resistant
- Consensus mechanism: merge-mined proof of work (PoW) with over 50% of Bitcoin’s hash power
- RBTC is used as gas to pay for smart contract execution on the network
- Rootstock is non-custodial and maintains Bitcoin’s censorship resistance
Numbers and figures
Introducing Rootstock Smart Bitcoin: A Revolutionary Leap in Blockchain Technology
Rootstock’s native token, RBTC, dubbed “Smart Bitcoin,” empowers users to leverage their BTC to seamlessly interact with a diverse array of services on the Rootstock Bitcoin Layer 2.
Rootstock is a pioneering Bitcoin sidechain that seamlessly integrates EVM-compatible smart contract functionality, leveraging Bitcoin as its native asset. Notably, Rootstock stands out as the most decentralized and censorship-resistant Bitcoin sidechain, ensuring unparalleled freedom and security.
RBTC maintains a precise 1:1 parity with BTC, ensuring that 1 RBTC is always equivalent to 1 BTC. When you transfer bitcoin into Rootstock, your bitcoin is securely locked, and the corresponding amount is simultaneously released as RBTC.
Rootstock operates on a permissionless basis, with a consensus mechanism rooted in merge-mined proof of work (PoW), boasting an impressive 50% of Bitcoin’s formidable hash power dedicated to mining Rootstock. This remarkable concentration of mining power surpasses that of all other chains, with the sole exception of Bitcoin itself.
RBTC serves as the fuel that powers smart contract execution on the network, covering costs such as transaction fees for trading Rootstock ecosystem tokens, analogous to ETH’s role in the Ethereum ecosystem. Notably, unlike other native blockchain tokens, Rootstock operates on a non-custodial basis, thereby preserving the censorship-resistant attributes inherent to Bitcoin.