Rootstock: Bitcoin Scaling Hackathon

Welcome to the Rootstock: Scaling Bitcoin Hackathon! We are excited to have you on board for this thrilling event.

Rootstock is the world’s most secure, permissionless and censorship-resistant Bitcoin sidechain. It provides EVM-compatible smart contract functionality using Bitcoin as the native asset. Rootstock takes Bitcoin from a simple store of value and turns it into the foundations of a fully-fledged decentralised financial system.

People around the world use Rootstock every day to interact with a range of DeFi protocols such as Sovryn, Tropykus and stablecoin Money on Chain. Rootstock adds smart contract capabilities to Bitcoin while improving its scalability with low transaction costs.

Bitcoin Sidechain

Rootstock expands the functionality and scalability of the Bitcoin ecosystem without sacrificing decentralization or security. We do this through merge mining, transferring the security of the PoW of Bitcoin into Rootstock.

Ethereum Compatibility

Rootstock is an Ethereum Virtual Machine, offering smart contract capability. This means if you’ve developed on Ethereum before, you’ve already got the skills you need to build on Rootstock.

Use the same solidity tools and libraries that you’re used to, and apply them to the Rootstock blockchain. That includes Hardhat works, Truffle works, web3.js works, and ethers.js.

Rootstock, RIF & IOV Labs

Explore these valuable resources to gain a better understanding of Rootstock, IOV Labs, and RIF (Rootstock Infrastructure Framework):

• Rootstock:

  Rootstock (RSK) is an EVM-compatible smart contract platform that enables secure and transparent smart contract execution on the Bitcoin network. Visit their website to learn more: https://rootstock.io/

• IOV Labs:

  IOV Labs is a technology organization that develops and supports projects contributing to a safe and equitable global financial system. Their decentralized team of 120 employees spans across 30 countries and includes early contributors to Bitcoin and Ethereum, creators of the Rootstock sidechain, academics, entrepreneurs, and marketing experts. Discover more about IOV Labs: https://www.iovlabs.org/

• RIF (Rootstock Infrastructure Framework):

  RIF is a service layer built on top of the Rootstock blockchain, offering open, decentralized tools and technologies. It empowers developers to create scalable DeFi products quickly and easily. Learn more about RIF at their official website: https://www.rifos.org/

Why You Should Build on Rootstock

• Secured by Bitcoin Proof of Work through Merged Mining: Learn more about merged mining with Bitcoin on Rootstock here and read about how Rootstock is built for Bitcoin in this blog post.
• Rootstock Enables DeFi on Bitcoin: Discover how Rootstock enables decentralized finance (DeFi) on the Bitcoin network here.
• Future-Proofed and Decentralized: Rootstock has a strong community of dedicated users and developers working together to make the network future-proof and decentralized.
• EVM Compatible: If you have experience developing on Ethereum, you already have the skills you need to build on Rootstock. Learn more about Rootstock's EVM compatibility here.

Useful Stats about Rootstock

• Over $300M (USD) Native Total Value Locked.
• 1,905 days mainnet live (since 3 January 2018 and counting).
• 100% network uptime (all time).
• 57% Bitcoin merged-mining hashrate (average).
• 179,632 wallet addresses.
• 118,178 transactions per month.
• 10,549,407 transactions (all time).
• 30-second block time (average).
• 3,554 (BTC) / $99M (USD) Bitcoin Locked in Two-Way Peg.

The Rootstock Ecosystem

Over 60 protocols are integrated with Rootstock, including a number of developer tools. You can explore the list of dApps built on Rootstock here.

People around the world use Rootstock every day to access a range of DeFi protocols for sending, borrowing, lending, and payments.

Rootstock is an EVM-compatible Bitcoin sidechain with 100% uptime since its launch in 2018, ultra-low transactions fees and the ability to handle up to 20 million transactions per second.

• For more practical developerresources click here