Rootstock
Overview
Status
Mainnet
Type
Sidechain
Fee Token
RBTC
BTC Supply
₿0
Rootstock is a merge-mined, EVM-compatible bitcoin sidechain. As a merge-mined network, bitcoin miners can concurrently mine for Rootstock's consensus. The network is not secured by another token. As an EVM-compatible network, developers can deploy Solidity and other EVM-compatible smart contracts with arbitrary logic, creating a host of new applications for BTC. Rootstock has an enshrined cross-chain BTC asset called ''Smart Bitcoin'' (RBTC), which is pegged 1:1 to BTC and secured by a permissioned multisig federation.
CUSTODY
DATA AVAILABILITY
OPERATORS
FINALITY ASSURANCE
Trust Assumption Review
BTC Custody
High
🚨
Rootstock RBTC
A federated multi-sig known as the Powpeg is used to custody users' BTC. More than 5, publicly-known signers participate in the Powpeg.
The bridge between bitcoin and Rootstock is secured by a 5-of-9 federated multisig, referred to as the Powpeg (Proof of Work Peg). The identities of entities participating in the Powpeg are publicly known. Users trust the operators of the Powpeg to custody their funds.
Powpeg signer identities and attestations can be found here.
Powpeg signer identities and attestations can be found here.
Data Availability
Medium
⚠️
Data is stored and made available via Rootstock nodes. Running a node is permissionless
The data for Rootstock's state updates is stored on the Rootstock blockchain. Anyone can run a Rootstock node and verify the state of the Rootstock blockchain. So long as there is at least one non-pruned Rootstock full node online, users will be able to recover the full history and state of the Rootstock blockchain.
Network Operators
Medium
⚠️
Any Bitcoin miner can participate in merge-mining Rootstock
Block production is permissionless. Anyone who is willing and able to merge-mine Rootstock and bitcoin can produce Rootstock blocks and earn rewards. If interested parties do not possess enough hashpower to competitively solo mine, they can join a mining pool that supports Rootstock merged mining.
Finality Guarantees
Medium
⚠️
Finality assurances are provided by Rootstock's consensus mechanism
There is no bitcoin enforcement of Rootstock state transitions. Rootstock full nodes accept blocks proposed by Rootstock miners.
Bitcoin Security
Rootstock enables Bitcoin miners to merge-mine Rootstock
Rootstock indirectly inherits security from Bitcoin's consensus participants. Bitcoin miners can permissionlessly opt-in to merge-mining Rootstock and secure the network.
Another token is not used for network security
The Full Block Reward is paid out in RBTC. Its distribution is : 20% to Rootstock Labs, 0.8% to Powpeg Federation, 79.2% to miners. Miners only receive rewards from transaction fees. Fees dedicated to the federation and miners serve to incentivize the continued security, whereas the 20% dedicated to Rootstock Labs is dedicated to the maintenance and development of the network.
No MEV introduced to Bitcoin, but Bitcoin miners can extract sidechain MEV
Rootstock does not leak MEV to Bitcoin directly. Due to the nature of Rootstocks execution environment, Bitcoin miners may take advantage of opportunities to extract MEV if the network is experiencing high activity.
Merge-mining enables Bitcoin miners to earn more fees
Rootstock contributes to Bitcoin's security budget indirectly by providing Bitcoin miners an exclusive opportunity to earn fee revenue via merge-mining.
Withdrawals
Users trust permissioned operators to process their withdrawals
Withdrawals are currently permissioned by a federated group of signers. Users must trust that when they deposit BTC into the Rootstock blockchain, the signers will not collude and steal their BTC. Learn more about the Powpeg multisig in the Knowledge Bits section.
Technology
Merge-mining
Merged mining is a feature of Rootstock’s consensus mechanism that allows coupling between bitcoin and Rootstock. Essentially, BTC mining pools add references to Rootstock blocks in mining jobs sent to mining participants. Additionally, because the Rootstock mining algorithm is the same as bitcoin’s, there is little added energy expenditure. This sees bitcoin miners have an ability to additionally mine a percentage of Rootstock blocks. Miners are incentivized through earning a portion of transaction fees to mine Rootstock
REMASC
In order to pay out miners, every block executes the Reward Manager Smart Contract (REMASC). The contract keeps record of the Reward Balance account, which exists to change value during new block production. When a block reaches maturity, the appropriate portions of rewards are distributed according to REMASC specified rules.
EVM-Compatible
Rootstock uses a forked version of the Ethereum Virtual Machine (EVM), which it calls the Rootstock Virtual Machine (RVM). The Ethereum Virtual Machine is software responsible for smart contract execution for a number of blockchains, namely the Ethereum Network. It uses Solidity/Vyper as its code and is the dominant environment for smart contract execution in the cryptocurrency ecosystem. Smart contracts created for the EVM are directly compatible with the RVM.
Faster block times
Rootstock achieves block confirmation around every 30s.
Use Cases
Onchain applications
Onchain applications are supported. Onchain applications including borrowing and lending protocols, onchain exchanges (commonly referred to as decentralized exchanges), and more. These applications are supported with more expressive smart contract environments.
Source Code
Code is open-source
All code related to the Rootstock project is open source.
Knowledge Bits
Learn more