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Bitcoin’s First Layer 2, Rootstock, Launches $200K Developer Fund

Bitcoin’s First Layer 2, Rootstock, Launches $200K Developer Fund

The fund will provide financial backing for projects developed using Rootstock, the first and longest-lasting Bitcoin sidechain.

RootstockLabs has announced the launch of the Rootstock Grants Program, a developer fund of $200K dedicated to projects built on the Rootstock blockchain. Rootstock is the first Bitcoin layer 2 that enables the creation of dApps that run on BTC.

Rootstock team recently released a blog post announcing the fund and detailing the advantages of building on the network, including enhanced security, compatibility with Ethereum, and integration with Microsoft’s blockchain-as-a-service marketplace Azure. The grant pool of USD 200,000 will be distributed among the projects on a case-by-case basis.

The program site suggests specific types of submissions, such as an in-browser wallet for DApps, a smart contract compile and deploy toolchain, a “starter project” scaffolding tool, or a new RSKIP with an implementation. However, developers are welcome to submit any original ideas that support the Bitcoin and Rootstock ecosystem.

The announcement comes after LaBITconf, Latin America’s most influential blockchain conference, where RootstockLabs rolled out a strategic focus on Decentralized Finance during 2020, leading with the announcement of a Bitcoin-backed stablecoin protocol Money on Chain, as well as a mobile client for Lumino, called Lumino Light, which will allow mobile integration for any stablecoins and DeFi solutions on Rootstock.

Ruben Altman, Head of Adoption at RootstockLabs, commented “The Grants Program was initiated to support exciting projects, drive adoption, and foster community with developers who understand the revolutionary value proposition of smart contracts for Bitcoin; who will bring their point of view to the Rootstock community. We look forward to connecting with applicants.”

The application program will run Dec 1, 2019 through Dec 1, 2020.

About RootstockLabs

RootstockLabs is a key contributor to Rootstock, the first, biggest, and longest-lasting Bitcoin layer 2. 

RootstockLabs specializes in pioneering innovative solutions within the blockchain space, empowering developers with funding, technology, and marketing support to expand the frontiers of decentralized technology and make Bitcoin work for everyone. 

Rootstock is the first, biggest, and longest-lasting Bitcoin sidechain. It is the only Bitcoin layer 2 that combines the security of Bitcoin’s proof-of-work, with Ethereum’s smart contract capabilities.

Rootstock is open-source, EVM-compatible, and secured by over 60% of Bitcoin’s hashing power, which makes it a gateway to a vibrant ecosystem of dApps that continues to evolve to become fully trustless. 

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