Rootstock Raises $1M to Develop Smart Contracts to Bitcoin Blockchain
By raising $1 million in seed funding, blockchain startup RSK Labs will develop Rootstock, a smart contracts platform that will be deployed as a sidechain on the bitcoin blockchain. In a funding round led by bitcoin mining hardware company Bitmain Technology, RSK Labs has raised $1 million in a successful initial seeding round to develop Rootstock – a smart contracts platform secured by the bitcoin blockchain. The funding round was supported by London-based blockchain investment firm Coinsilium and New York-based bitcoin- and blockchain-investor Digital Currency Group. The first of its....
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Although smart contract projects on alternative blockchains such as Ethereum are gaining a lot of attention, smart contracts on the Bitcoin blockchain itself are challenging because the Bitcoin network is not a “Turing Complete” system. A Turing Complete system is one that can compute any algorithmically computable function (although with no guarantees regarding runtime or memory). The Bitcoin network has purposefully omitted Turing completeness to allow the economic incentives the network has been able to create, and for minimizing the security risks that come with self-executable....
Bitcoin has graduated from being a cryptocurrency to an applications platform that can be used in a range of industries to augment their operations. The use of Bitcoin’s underlying blockchain technology for purposes other than recording and confirming transactions is labeled under an umbrella term Blockchain 2.0. Smart Contracts is one of the applications of Blockchain 2.0 Currently, there are two platforms that are leading the Smart Contracts race – Ethereum and RootStock. While Ethereum is a standalone protocol developed by Vitalik Buterin and his team that uses a separate blockchain and....
Ethereum and Rootstock are two different open source blockchain based protocols that can be used for creating smart contracts. Which one of them will see widespread adoption? Blockchain is a valuable contribution Bitcoin has made to the finance industry. The blockchain technology is being used in various crypto technology based platforms with an extensive range of application. Smart Contract is one such application created over blockchain protocols. We now have two blockchain based protocols that are built around blockchain related applications and smart contracts. One of them is....
Sergio Lerner, the well-known blockchain and cryptocurrency security expert who is also part of Rootstock, was present at LaBitConf Mexico yesterday. While at the event, he released the white paper titled RootStock Platform - Bitcoin Powered Smart Contracts. In an interview with a NewsBTC representative, he explains about RootStock, its comparison with Ethereum and Bitcoin, and also its security features. While explaining about the platform, Sergio made it clear that RootStock is not a fork of Ethereum, as many tend to believe. The development of RootStock had begun almost a year before....
Rootstock, a P2P platform based on the block chain that implements smart contracts using the capabilities of Ethereum with the transparency and security of the bitcoin network, is negotiating with the World Bank and some Latin American banks to provide microlending for the unbanked, according to the International Business Times. Rootstock hopes to give banks the means to issue loans from smart contracts. Rootstock combines the capabilities of Ethereum with the bitcoin network's transparency and security by using sidechain technology. Bitcoin serves as the fuel that runs the smart contract.....