Originally published on: December 06, 2024
Rooch Network, a groundbreaking blockchain project dedicated to enhancing the Bitcoin ecosystem, has officially entered its pre-mainnet phase after a successful trial period on its testnet. While Bitcoin was originally conceived as a peer-to-peer electronic currency, developers continue to explore new possibilities for the network.
The introduction of an application layer for Bitcoin has the potential to revolutionize the way users interact with the network. By enabling decentralized finance (DeFi) activities, smart contract execution, and other blockchain-based applications directly on the Bitcoin network, users can experience a whole new level of functionality.
Non-custodial interactions on Rooch Network could lead to improved scalability and a more user-friendly experience. This development aims to make Bitcoin a more versatile asset and transform how individuals and businesses engage with the network.
Rooch Network’s pre-mainnet paves the way for the creation of native, non-custodial Bitcoin applications, presenting exciting yield opportunities for BTC holders. During the successful testnet phase, over 130 million transactions were processed, involving more than 7,500 unique addresses.
Rooch Network’s pre-mainnet phase focuses on key objectives:
By achieving these milestones, Rooch Network aims to establish a solid foundation for its official mainnet launch, prioritizing security, stability, and scalability.
Distinctive to Rooch is its non-custodial approach, allowing users to interact with Bitcoin applications directly from their own BTC wallets without involving third-party custodial services. The pre-mainnet phase showcases Rooch’s capability to support native Bitcoin applications and yield generation in a fully non-custodial environment.
To incentivize community participation, Rooch is running incentivized campaigns during the pre-mainnet phase, leading up to an upcoming mainnet airdrop. The network operates on a dual-token system, incorporating RGas as a gas token and a governance token for distinct functionalities.
Rooch is committed to fostering the growth of the Bitcoin ecosystem through initiatives like Grow Bitcoin, a platform designed to support Bitcoin projects and engage users in voting and rewards programs based on their BTC holdings. Additionally, Rooch is integrating the Move programming language to enable developers to build Bitcoin applications on Rooch with ease.
As Rooch Network progresses toward its official mainnet launch, the community is encouraged to participate in this transformative phase of native, non-custodial Bitcoin applications. This marks a significant step forward in the evolution of DeFi on the Bitcoin network.
Disclosure: This article is sponsored by Rooch Network. Readers should conduct their own research before making any investment decisions.