Multichain adds Rootstock to its blockchain bridge ecosystem

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

According to Monday’s announcement, the integration is a major milestone for Multichain because it opens up access to decentralized finance (DeFi) on Bitcoin. This add-on will allow users to take advantage of RSK’s security and functionality.

The integration will enable RSK to bring Bitcoin into Multichain’s ecosystem, while providing access to new markets and uses for users. The RSK side chain is the first Bitcoin-based side chain to be incorporated into Multichain. It has a unique place in the world of Bitcoin enthusiasts as well as with Ethereum Virtual Machine (EVM) -driven DeFi.

The company said that the integration with Rootstock is intended to provide basic benefits to developers who use RSK. They do not have to spend resources on building bridges to capital and addressable markets, for example. They will also have faster time to market new platforms based on RSK.

Users can start building bridges between ETH, USDC, BUSD, BNB, WBTC and DAI between RSK’s network and Ethereum. Multichain will add more chains and tokens to the RSK network in the coming weeks and months. RSK co-founder Diego Gutiérrez Zaldívar stated:

“RSK is home to the fastest growing DeFi for the Bitcoin ecosystem with protocols built to last and provide real-world solutions to the problems users face in centralized finance.”

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

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Rootstock, the brainchild of Bitcoin Core developer Sergio Lerner, saw several years of development before the first mainnet launch in January 2018. “Basically, Rootstock aims to be what Ethereum is, a decentralized, Turing-complete smart contract platform. However, Rootstock aims to use the Bitcoin ecosystem instead of creating a new one from scratch, said blockchain engineer Albert Szmigielski in a 2016 blog post.