Multichain adds Rootstock to its blockchain bridge ecosystem

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Cross-chain platform Multichain has announced the integration of Bitcoin-based (BTC) smart contract protocol Rootstock (RSK) blockchain into its ecosystem. This will allow users to exchange Ether (ETH), USD Coin (USDC), Binance USD (BUSD), and other assets between the RSK, Ethereum, and BNB chains.

Per Monday’s announcement, the integration is a major milestone for Multichain as it opens access to decentralized finance (DeFi) on bitcoin. This will allow additional users to take advantage of the security and functionality of RSK.

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The integration will enable RSK to bring bitcoin into Multichain’s ecosystem, as well as provide access to new markets and use cases for its users. RSK Sidechain is the first bitcoin-based sidechain to join Multichain. It has a unique place among bitcoin enthusiasts as well as in the world of EVM-powered DeFi.

The company said its integration with Rootstock is meant to provide fundamental benefits to builders using RSK. For example, they do not have to spend resources to build bridges between capital and addressable markets. They will have a faster time to market for a new platform based on RSK.

Users can start bridging their ETH, USDC, BUSD, BNB, WBTC and DAI between RSK’s network and Ethereum. Multichain will be adding additional chains and tokens to the RSK network in the coming weeks and months. Diego Gutierrez Zaldivar, co-founder of RSK, said:

“RSK is home to the fastest growing DeFi for the bitcoin ecosystem, built to provide the ultimate and real solution to the issues facing users in centralized finance.”

The AnyCall interoperability protocol has been updated by Multichain, which allows for cross-chain communication and name contracts. It will be a valuable tool for building cross-chain decentralized apps on Rootstock and other supported networks.

related: DeFi crypto wallet aims to decentralize the legacy of crypto and NFTs

The brainchild of Bitcoin Core developer Sergio Lerner, Rootstock saw several years of development before its initial mainnet launch in January 2018. “Basically Rootstock’s goal is Ethereum, which is a decentralized, Turing-complete smart contract platform. However, Rootstock aims to harness the bitcoin ecosystem anew,” said blockchain engineer Albert Szmigelski in a 2016 blog post. .