Multichain’s first Bitcoin-based sidechain, the RSK sidechain, has been incorporated into Multichain. Multichain, a cross chain platform, announced the integration the Bitcoin-based ( BitcoinTC), smart contract protocol Rootstock(RSK) into its ecosystem. This will enable users to exchange Ether ( EETH), USD Coin , Binance USD (BUSD), and other assets between RSK and Ethereum.
Monday’s announcement stated that Multichain has achieved a significant milestone by integrating RSK. This integration opens up access to Decentralized Finance (DeFi) via Bitcoin. This will enable users to benefit from RSK’s functionality and security.
RSK will be able to integrate Bitcoin into Multichain’s ecosystem. The integration will also give access to new markets for its users and allow them to use the platform in other ways. Multichain’s first Bitcoin-based sidechain, RSK, has been integrated into Multichain. It is a prominent Bitcoin sidechain, as well as a DeFi-powered Ethereum Virtual Machine (EVM), it has a special place in the Bitcoin community.
According to the company, Rootstock’s integration is intended to offer fundamental benefits to RSK-using builders. They won’t need to invest in capital or addressable markets bridges, as they will not have to. RSK will allow them to market new platforms faster.
Users might start bridging their ETH and USDC, BUSD and BNB with Ethereum’s network. Multichain will bring additional tokens and chains to the RSK network over the next weeks and months. RSK co-founder Diego Gutierrez Zaldivar stated:
“RSK is the home of the fastest-growing DeFi for Bitcoin network. It has protocols that are durable and offer real solutions to users’ problems in central finance.
Multichain has updated the anyCall interoperability protocols, which allow cross-chain communication and name contracts. It will be an important tool for creating cross-chain decentralized apps via Rootstock or other supported networks.
Rootstock, created by Sergio Lerner (Bitcoin Core developer), saw many years of development before it initial mainnet launched in January 2018. Rootstock is a decentralized, Turing complete smart contract platform. Rootstock, however, aims to use the Bitcoin ecosystem instead of creating one from scratch,” Albert Szmigielski , a blockchain engineer, stated in an article published in 2016.
