The post Rooch Network joins Cointelegraph Accelerator appeared on BitcoinEthereumNews.com.

Cointelegraph has announced that Rooch Network, a blockchain project building a native application layer for the Bitcoin ecosystem, has joined the Cointelegraph Accelerator program. Bitcoin (BTC) was conceived as an alternative payment system, a digital cash. With a gigantic increase in value over the years, BTC rapidly became an appealing investment vehicle. Thus, the original cryptocurrency is primarily used for transacting and investing. However, as the role of Bitcoin as a store of value grew, its potential in decentralized applications (DApps) was hindered by technical constraints. While Ethereum and other blockchains have found ways to adapt and support DApps and smart contracts, Bitcoin’s contribution to decentralized finance (DeFi) remained limited due to its lack of native smart contract functionality. Bitcoin network evolves Activated back in 2021, the Taproot upgrade opened the door to DeFi in the Bitcoin ecosystem. The upgrade brought native smart contract capability to the network, and DApps finally became a reality for Bitcoiners. However, the upgrade didn’t result in a remarkable increase in Bitcoin DApps due to programming language deficiencies, leading ecosystem participants to layer-2 solutions. L2 protocols create an additional layer on blockchains where transaction load is transferred, mainly to improve scalability. L2s may also bring extra functionality to layer-1 blockchains. In Bitcoin’s case, L2s allow for developing complex DApps on the network. Yet, many layer-2 protocols present severe challenges in terms of security and privacy. In practice, most L2s operate similarly to sidechains and lack the security of base layers. Moreover, custodial solutions require transferring asset control to third-party intermediaries, compromising security and decentralization. Unlocking advanced DApps on Bitcoin Rooch Network is creating a new way to build advanced, non-custodial DApps directly on the Bitcoin blockchain. By adding an application layer to Bitcoin, Rooch enables developers to create complex applications without giving up control over…

---

Filed under: News - @ November 12, 2024 4:18 am