Imagine a world where Bitcoin, the epitome of security and decentralization, seamlessly integrates with the robust capabilities of smart contracts. Enter Rootstock Smart Bitcoin (RBTC), a groundbreaking innovation that transforms this vision into reality. RBTC serves as the native token of Rootstock, a Bitcoin sidechain that unlocks Ethereum’s smart contract functionality while preserving Bitcoin's unparalleled security. With a 1:1 peg to BTC, RBTC empowers users to engage in a myriad of decentralized finance (DeFi) activities, from lending to trading, all within a permissionless and censorship-resistant environment. Curious to dive deeper into how RBTC is redefining the Bitcoin landscape? Read on!

What is Rootstock Smart Bitcoin (RBTC)?

Rootstock's native token RBTC, known as "Smart Bitcoin," allows users to leverage their BTC to interact with a range of services on the Rootstock Bitcoin layer 2. Rootstock is a Bitcoin sidechain that provides Ethereum Virtual Machine (EVM)-compatible smart contract functionality using Bitcoin as the native asset. Rootstock is the most permissionless and censorship-resistant Bitcoin sidechain.

Key Features of RBTC

1. 1:1 Peg with BTC: RBTC maintains an exact 1:1 peg with BTC. When you transfer Bitcoin into Rootstock, your Bitcoin is locked, and the equivalent amount is released as RBTC.
2. Permissionless and Censorship-Resistant: Rootstock operates in a permissionless manner, ensuring that it remains censorship-resistant.
3. Merge-Mined Proof of Work (PoW): Rootstock's consensus mechanism is merge-mined PoW, with over 50% of Bitcoin's hash power currently mining Rootstock. This means that Rootstock is mined by more hash power than any other chain, except Bitcoin itself.
4. Gas Fees: RBTC is used as gas to pay for smart contract execution on the network, similar to how ETH is used on Ethereum. Unlike other blockchain native tokens, Rootstock is non-custodial and maintains the censorship resistance of Bitcoin.

The Purpose and Utility of RBTC

The Rootstock Smart Bitcoin (RBTC) token is the utility token used to run the Rootstock platform, a groundbreaking smart contract platform built on the Bitcoin network. The primary purpose of RBTC tokens is to pay for transaction fees on the Rootstock platform.

Addressing Bitcoin's Limitations

Rootstock Smart Bitcoin is designed to address the limitations of Bitcoin by offering smart contract capabilities, enabling developers to create decentralized applications (dApps) on the platform. By utilizing the Ethereum Virtual Machine (EVM), Rootstock allows developers to use Solidity smart contracts to build dApps, inheriting the security of Bitcoin.

Use Cases of RBTC

RBTC tokens serve several purposes within the Rootstock ecosystem:

1. Transaction Fees: RBTC users must pay gas fees using RBTC tokens when deploying smart contracts and transacting on the Rootstock platform.
2. Governance: RBTC token holders can participate in the decision-making process of the Rootstock platform and vote on proposals that shape its future.
3. Staking: RBTC users can stake their tokens to earn rewards and contribute to network security.

By addressing the limitations of Bitcoin and offering smart contract capabilities, Rootstock Smart Bitcoin aims to lead the Bitcoin smart contract market, providing a compelling solution for developers seeking to build secure and scalable dApps on the Bitcoin network.

Tokenomics and Distribution Model

The Rootstock Smart Bitcoin (RBTC) token is the native token of the RSK ecosystem, a smart contract platform designed to run in parallel with the Bitcoin blockchain. The RBTC token has a 1:1 ratio with the original currency of the Bitcoin network, Bitcoin (BTC).

Total Token Supply and Distribution

1. Total Token Supply: The total token supply of RBTC is not explicitly stated in the provided sources. However, it is mentioned that RBTC has a maximum supply cap of 21 million, which is the same as Bitcoin's supply cap.
2. Tokens in Circulation: The number of RBTC tokens in circulation is not explicitly stated in the provided sources.
3. Maximum Supply Cap: The maximum supply cap of RBTC is 21 million, ensuring that RBTC never deviates from the Bitcoin price peg.
4. Token Distribution: Users can seamlessly convert their BTC to RBTC via the PowPeg, and RBTC can also be freely traded on several top-tier crypto exchanges.

Utility of RBTC

RBTC is used as the gas to pay for the execution of transactions in RSK. It is the fuel that powers the RSK ecosystem, enabling the creation and deployment of smart contracts on the Bitcoin network with the security, scalability, and interoperability provided by the RSK platform.

Unique Features and Benefits of RBTC

Rootstock Smart Bitcoin (RBTC) is the native token of the Rootstock (RSK) network, a sidechain connected to the Bitcoin blockchain that enhances its functionality by enabling the execution of smart contracts. RBTC serves as the primary unit of value for transactions and smart contract execution on the platform and is pegged to the value of Bitcoin at a 1:1 ratio. This pegging is maintained through a two-way peg system, where users can convert their Bitcoin into RBTC on the RSK platform, and vice versa, ensuring that the total supply of RBTC is backed by an equivalent reserve of Bitcoin on the main Bitcoin blockchain.

Compatibility with Ethereum Virtual Machine (EVM)

One of the key advantages of RBTC is its compatibility with the Ethereum Virtual Machine (EVM), the same virtual machine that powers smart contracts on the Ethereum network. This compatibility allows developers to easily port and deploy existing Ethereum smart contracts on the RSK platform, creating a more seamless experience for those familiar with Ethereum's smart contract ecosystem.

Applications in Decentralized Finance (DeFi)

RBTC has found applications in various decentralized finance (DeFi) projects, decentralized applications (DApps), and tokenized asset platforms that operate on the RSK network. Users can leverage RBTC to participate in a range of financial activities, including lending, borrowing, and trading, while benefiting from the security and decentralization features of the Bitcoin network.

The Team Behind Rootstock Smart Bitcoin

The Rootstock Smart Bitcoin crypto token is developed and maintained by the team at RootstockLabs, which has been at the forefront of building on Bitcoin since 2017. The team is dedicated to giving developers the tools to build on Bitcoin, supporting the growth of the Rootstock ecosystem, and expanding the frontiers of decentralized technology.

Core Team Members

1. Sergio Lerner: Co-Founder and Chief Scientist at RootstockLabs. Sergio has a background in computer science and cryptography and has been involved in Bitcoin development since its early days. He is a well-known figure in the blockchain community and has contributed to various projects, including the creation of the first Bitcoin wallet with multi-signature support.
2. Diego Gutierrez Zaldivar: Co-Founder and CEO at RootstockLabs. Diego has extensive experience in the technology and entrepreneurship sectors, having founded several successful startups in the past. He is a strong advocate for decentralized technologies and has been