What is RSK (Rootstock)?

Rootstock, often abbreviated as RSK, is a smart contract platform that operates as a sidechain to the Bitcoin blockchain. Launched in 2018, Rootstock aims to enhance the functionality of Bitcoin by enabling the execution of smart contracts, a feature traditionally associated with platforms like Ethereum.

The key innovation of Rootstock lies in its use of a two-way pegged sidechain. This means that users can move their Bitcoin to the Rootstock sidechain, where smart contracts can be executed, and later move their Bitcoin back to the main Bitcoin blockchain. This seamless interoperability allows users to access the benefits of smart contracts without compromising the security and decentralization of the Bitcoin network.

RSK employs a merge-mining mechanism, wherein miners can simultaneously mine both Bitcoin and RSK blocks. This ensures that RSK benefits from the robust security of the Bitcoin network. The native token of Rootstock is called Smart Bitcoin (RBTC), which is pegged to Bitcoin on a 1:1 ratio. RBTC is used to pay for transaction fees and deploy smart contracts on the Rootstock network.

One of Rootstock's primary goals is financial inclusion. By providing a platform for decentralized applications and smart contracts on the Bitcoin blockchain, Rootstock aims to extend the capabilities of Bitcoin beyond a store of value and medium of exchange. It opens up possibilities for decentralized finance (DeFi) applications, token creation, and other use cases, all while leveraging the security and widespread adoption of the Bitcoin network.