What is Rootstock (RSK)
Alignment of Bitcoin Stakeholders and Protection of Value
RSK governance’s primary goal is to align the main stakeholders of Bitcoin by creating rewards that are fully aligned with their current activities.
This philosophy is directly reflected in its core architecture where Bitcoin miners provide the hashing power required for the proof-of-work block validations, industry leaders (Exchanges, Wallets and Payment Processors) integrate the Federation that creates validation checkpoints and sign the redeem transactions of the two-way peg.
On top of that, RSK decides on improvements for its platform based on a voting system where Miners, Industry Leaders, Bitcoin / RSK holders and core developers make the final decision.
Each player in the community has the know-how to best serve the community: exchanges and web-wallets know how to protect Bitcoin savings, miners know how to realize large scale mining operations to secure user transactions, Blockhain companies innovate in new use cases and make dreams come true, core developers have the technical expertise to known how to tackle the technical challenges to come, node maintainers provide the infrastructure and network connectivity, and users are the heart of the system, providing trust and liquidity.
The RSK governance model aims to represent all actors within the community, by providing a board of governance consisting of five seats. Miners will be able to vote with hashing power (one vote), Bitcoin and RSK users will vote with proof-of-stake (one vote), Exchanges and web-wallets will vote though the Federation (one vote), RSK and Bitcoin Core developers will have a special threshold voting system (one vote), and the last vote will be offered to a non-profit established Bitcoin institution, such as the Bitcoin Foundation, that can represent the broader ecosystem. Also, an institutional vote could be offered to the Ethereum Foundation, if it is representative of the Ethereum community.
RSK is the first Bitcoin sidechain in production that provides Turing-complete Smart Contracts, compatible with the Ethereum standards, and secured by Bitcoin mergemining.
RSK represents the culmination of five years of blockchain technology improvements and it enables the Bitcoin ecosystem to make use of the best features of programmable money and payments while increasing Bitcoin utilization and value.
RSK innovative design enables higher scalability and reduced transaction costs.
RSK enables developers around the globe to create personal and corporate decentralized solutions that run in the most secure network worldwide with a low transaction cost that fits an ample range of needs and use cases.
RSK enables Bitcoin miners to participate in the Smart Contract market adding significant value to the Bitcoin mining industry and ensuring its long-term sustainability. It contributes to the economic sustainability of Bitcoin miners and the growth of Bitcoin network’s security.
RSK provides Ethereum users and companies a new compatible platform to deploy their solutions using Bitcoin as the native currency, relying on the Bitcoin mining infrastructure for its security, and accessing a wider user base.
RSK enables the creation of a decentralized, secure, open and inexpensive blockchainbased financial system that will create inclusion and opportunities for more than three billion people who remain unbanked and financially impaired in our world.
Blockchain Platform: Bitcoin
Office address: ARVE Consulting Limited, Data Protection Officer (DPO) 11 Lord Napier Mews Rodger’s Road Gibraltar GX11 1AA