Rootstock Secures 81% of Bitcoin’s Hashrate, Reducing Transaction Fees
Key Points on Bitcoin DeFi (BTCFi) Developments:
- Messari reports Bitcoin DeFi is becoming safer and cheaper.
- Rootstock, a major Bitcoin layer-2 project, is now secured by 81% of Bitcoin's total hashrate, up from 56% after onboarding Foundry and Spiderpool.
- Transaction fees on Rootstock are 95% cheaper than average Bitcoin transactions and 55% cheaper than Ethereum's fees.
- Rootstock enhances Bitcoin's utility with smart contracts via "BitVMX," a modified programming language.
- Other notable Bitcoin layer-2 projects include Stacks and BOB ("Build on Bitcoin").
- Rootstock has partnered with LayerZero to integrate with multiple blockchains, including Ethereum and Solana.
- Future BTCFi growth expected with transaction fee reductions and investment in builder education.