Multichain adds Rootstock to its blockchain bridge ecosystem
The cross-chain platform Multichain has announced the addition of the Rootstock (RSK) blockchain’s smart contract protocol, which is based on Bitcoin (BTC), to its ecosystem. Users will be able to trade assets across RSK, Ethereum, and BNB Chain, including Ether (ETH), USD Coin (USDC), Binance USD (BUSD), and others.
The integration, according to Monday’s statement, marks a significant turning point for Multichain since it makes decentralized financing (DeFi) on Bitcoin accessible. Users will be able to benefit from the security and functionality of RSK thanks to this addition.
Through the connection, RSK will be able to add Bitcoin to the Multichain ecosystem and give its users access to new markets and use cases.
The first sidechain based on Bitcoin to be included into Multichain is RSK. It has a special position in the community of Bitcoin aficionados as well as with DeFi that is powered by the Ethereum Virtual Machine (EVM).
According to the business, its connection with Rootstock is intended to give builders using RSK certain essential advantages. They won’t have to spend money, for instance, constructing bridges to capital and marketable areas. Additionally, they will promote future RSK-based platforms more quickly.
Users are allowed to begin bridging their ETH, USDC, BUSD, BNB, WBTC, and DAI between Ethereum and the RSK network. In the upcoming weeks and months, Multichain will add more chains and tokens to the RSK network. Co-founder of RSK Diego Gutiérrez Zaldár said:
“RSK is home to the fastest-growing DeFi for Bitcoin ecosystem with protocols that are built to last and provide real solutions to the issues users face in centralized finance.”
The anyCall interoperability protocol has been updated by Multichain, which allows cross-chain communications and name contracts. It will be a valuable instrument for building cross-chain decentralized apps on Rootstock and other supported networks.
Before its initial mainnet debut in January 2018, Sergio Lerner, a developer on Bitcoin Core, spent years developing Rootstock. In essence, Rootstock wants to be a decentralized, Turing-complete smart contract platform like Ethereum. However, rather than building a brand-new ecosystem from scratch, Rootstock intends to make use of the Bitcoin ecosystem, according to a 2016 blog post by blockchain developer Albert Szmigielski.