Getting Started with Rootstock Development
Learn about Rootstock, how it enables smart contract on Bitcoin, and its compatibility with Ethereum and other platforms.
What is Rootstock?
Rootstock’s full technology stack is built on top of Bitcoin: From Rootstock smart contracts to the Rootstock Infrastructure Framework. The stack is designed to create a more fair and inclusive financial system.
See The Stack
Bitcoin, is a store and transfer of value. The blockchain is secure because miners with high infrastructure and energy costs create new blocks to be added to the blockchain every 10 minutes. The more hashing power they provide, the more secure the network is. Rootstock is the first open source smart contract platform that is powered by the bitcoin network. Rootstock’s goal is to add value and functionality to the bitcoin ecosystem by enabling smart-contracts, near instant payments, and higher-scalability. RIF is an all-in-one suite of open and decentralized infrastructure applications and services that enable faster, easier and scalable development of distributed applications (dApps) within a unified blockchain environment.
Rootstock is connected to Bitcoin in terms of how its blocks are mined, and also in terms of a common currency. Rootstock is also compatible with Ethereum in terms of its virtual machine (which executes smart contracts), as well as the RPC (external API) that it exposes. Let’s briefly look at each of these areas.
PowPeg
The second point of contact is the PowPeg. This component connects both networks to allow the transfer of bitcoins to Rootstock, thereby allowing developers to interact with smart contracts. They pay gas using the same bitcoin, the smart bitcoin.
To do so, you send bitcoin to a special address, where they are locked in the bitcoin network. Next, in the same address over in the Rootstock network, that same bitcoin is released to the user for use in the Rootstock network. This is called peg-in. You can do the reverse operation called peg-out, by sending your bitcoin to a special address in the Rootstock network, and receiving your bitcoin back in the bitcoin network.
Differences with Rootstock and Ethereum
Rootstock is not 100% compatible with Ethereum: It has differences in the way checksums are calculated, the derivation path it uses, and how gas is calculated.