I've never encountered Rootstock Bitcoin - rBTC - before (that's what "L2" is in this screenshot). Anyone know anything about it?
Discussion
Sure! I learned about it through nostr:npub1kyzrz044rh33qy0rrzae00sn7762sfg3dm8z3gzvgq4n8nu04pysaple6g MoneyOnChain project, which has a stablecoin (DOC) backed 100% by BTC (rBTC, actually).
Thanks!
It's a sidechain like Liquid, low adoption but has been around for a long time
Thanks for the quick response. Any idea why it has low adoption?
Liquid's codebase is called Elements, it's a fork of Bitcoin with some features added. Liquid focused on privacy, and faster tnxs using Bitcoin primitives, while Rootstock on the other hand used a EVM compatible virtual machine which allows devs to deploy Ethereum chain contracts on it, so focused more on DeFi and other "crypto" stuff
That's probably the reason
Shitcoinery
Yes, its a merged mine protocol.
For example Sovyrn is built on it rootstock allows contracts 'secured' by L1.
Hm.
Yeah its legit.
What do you mean by "legit"?
An IOU-BTC with trust-minimised assumptions (not trustless).
Sergio Damian Lerner is a recognised BTC contributor and the founder of the Rootstock project.
On Rootstock, you can do what you can do on Ethereum and other VM chains. It's possible to run Tornado Cash there.
There are other excellent projects there, such as Dollar on Chain.