
Rootstock
Overview
Status
Mainnet
Type
Merge-mined
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. 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
BTC Supply
Total supply per day
Supplycoming soon
TVL Data Coming Soon
We're currently gathering and building data infrastructure for this network. TVL analytics will be available soon.
Token Contracts
Token Contracts Coming Soon
We're working to collect the various BTC-backed token contracts for this network. Contract addresses will be available soon.
Risk Summary
All BTC pegs have custodian trust assumptions
The BTC backing the official wrapped bitcoin asset is managed by a federation. Users trust that this federation of custodians will not misappropriate funds and keep their assets pegged 1:1. If the federation becomes compromised, it can unilaterally steal users' funds. The network may support other wrapped BTC assets with different trust assumptions.
The network is an alternative blockchain
The network is an alternative blockchain. Users trust the economic security of the network to deter validators from censorship and creating malicious peg outs.
Trust Assumption Review
BTC Custody
High
🚨
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 BTC that backs RBTC is secured by a 5-of-9 federated multisig, referred to as the Powpeg (Proof of Work Peg). The signers of the Powpeg run specialized HSM hardware to secure the private keys used for signing Powpeg transactions.
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.
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.
Learn more about Rootstock RBTC's custody model→
Data Availability
Medium
⚠️
Data is stored and made available via Rootstock nodes. Running a node is permissionless
The data availability requirement is satisfied by sidechain full nodes. The network's node software is open-source, and anyone can run a full node to verify the current state of the chain.
Like any sidechain, blocks can be orphaned, so miners are disincentivized to withhold data and not broadcast their blocks as they would not receive mining rewards.
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.
Like any sidechain, blocks can be orphaned, so miners are disincentivized to withhold data and not broadcast their blocks as they would not receive mining rewards.
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
Bitcoin miners who are willing are able to merge-mine the network and produce blocks. If interested parties do not possess enough hashpower to competitively solo mine, they can join a mining pool that support the network.
Finality Guarantees
Medium
⚠️
Finality assurances are provided by Rootstock's consensus mechanism
The network's state transitions are validated by its full node set. After a block is mined by a miner, it is broadcast to its full node set who validates the block and includes it in the chain.
Bitcoin Security
Rootstock enables Bitcoin miners to merge-mine Rootstock
The network is merge-mined by bitcoin miners.
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
The network does not leak MEV to bitcoin. 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
Fees from securing the network's are paid to Bitcoin miners who optionally merge-mine the network.
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