Rootstock Experienced a Quarter of Unprecedented Growth, Consolidating Itself as the Leading Blockchain

With the panorama of Bitcoin layer 2 in turmoil, Rootstock has made a leap in quality, becoming a point of reference for the cryptocurrency ecosystem.

The first and most enduring sidechain of Bitcoin, Rootstock, has closed out a quarter of unparalleled growth, cementing its status as the preeminent blockchain for cryptocurrency thanks to a record number of transactions and a slew of new integrations.

As the landscape of Bitcoin layer 2 continues to shift, Rootstock has quietly notched up a string of achievements that have made it a point of reference in the crypto ecosystem. Here are the highlights of this impressive growth spurt.

Growth in Transactions, Security of Bitcoin Rootstock Sidechain Network Highlighted

Data from the block explorer reveals that Rootstock has now surpassed 13 million total transactions, with a monthly average of 45,000 transactions over the past three months. This marks a significant increase in activity on the sidechain, which offers a secure and performant layer for building on Bitcoin.

Backed by over 60% of Bitcoin's hash rate securing the network and boasting 100% uptime since its launch in January 2018, Rootstock has emerged as the premier avenue for development on Bitcoin.

Over the past three months, a total of 25 dApps and protocols have joined the Rootstock ecosystem, providing users with new and innovative ways to interact with the platform. Some of the key integrations include Artoshi, Bitget, SushiSwap, Uniswap, and many more, which expand the use cases andsmöglichkeiten for development on Rootstock.

These new collaborations underscore the growing appeal of the platform for developers and users alike.

Looking ahead, Rootstock has unveiled an ambitious roadmap for the next 12 months, which promises some major improvements that will strengthen the platform even further. Some of the main goals include reducing transaction confirmation times to just 5 seconds and enabling non-custodial swaps between the Lightning Network and Rootstock.

These enhancements are designed to speed up transactions, improve usability, and contribute to the network's decentralization.

Crucially, the roadmap also includes a series of Rootstock Improvement Proposals (RSKIPs) that will address different aspects of the platform:

- RSKIP 180: This proposal aims to reduce transaction confirmation times from the current 10 minutes to just 5 seconds. This improvement will significantly speed up transactions on Rootstock, making it more attractive for a wider range of use cases.

- RSKIP 185: This proposal seeks to integrate a decentralized exchange (DEX) into the Rootstock protocol. The DEX will enable users to trade cryptocurrencies directly on the blockchain, without the need for a centralized intermediary.

- RSKIP 190: This proposal outlines a plan to add support for the Lightning Network to Rootstock. The integration will allow users to send and receive bitcoin payments off-chain, at near-instant speeds and minimal cost.

Together, these proposals will pave the way for a faster, more functional, and interoperable Rootstock network.

Commenting on the past three months of growth, Henrik Jondell, Chief Technology Officer of RootstockLabs, had this to say:

“The last three months have been an important period for the growth of Rootstock and we are excited to see how the next twelve will develop.

“Rootstock has become one of the most used Bitcoin layer 2 for cryptocurrencies, and the increase in functionality and accessibility this quarter has only helped to expand its reach.”

Conclusion:

With a promising future and an ambitious roadmap, Rootstock is poised to further consolidate its status as a leading light in the realm of Bitcoin sidechains. To delve deeper into the Rootstock ecosystem and its innovations, be sure to check out their website.

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