What is Rootstock?
Rootstock is a Bitcoin Layer 2 scalability solution, developed by Sergio Lerner, a world class cyber security expert. He was an early developer in both Bitcoin and Ethereum. He designed Rootstock so it would take advantage of the best of both assets.
Using Bitcoin’s POW network and with BTC as its native currency, coupled with Ethereum’s programming language. Resulting in an E.V.M compatible network running on Bitcoin.
Meaning, with Rootstock, users have all the access to the full range of smart contract capabilities, like NFTs, DEFI and Stablecoins. All built on top of the most decentralized network and the most valuable asset, Bitcoin.
The network was created to provide the world with a free, open and fair economic system. One that was permissionless and no one could manipulate, alter or censor. Something that in some parts of the world is definitely needed at the moment.
In October 2022 there was the first Rootstock Summit in Argentina and since then there has been an influx of new users into the network. Everyday people seeking to solve their problems, with products like DOC (a Bitcoin backed Stablecoin) or with decentralized borrowing services.
Since then, I have been getting many requests on recommendations on good wallets for Rootstock. Here I present my personal favorites and why I like them.
1- Liquality — For Browser
Liquality is basically a fork of MetaMask (the most popular and widely used wallet), so it looks and functions almost the same. Why I prefer this one over the original is due to two main factors.
1- The Rootstock network comes installed by default. In MetaMask you will need to add it manually. A process that adds friction to the experience.
2- This is more ideological, MetaMask has been going in a direction that I find objectionable.
They closed source their code, now we as users can’t see what they are doing. They also starting tracking people’s interactions, where they spend money and what services they use. This is completely opposite of what blockchain technology should be. Liquality was created by a group of people who decided to use MetaMask’s code and keep it open.
I think, as users, the platform we chose is like casting a vote. That is why every chance I get I prefer using open source platforms and protocols that align with me in a philosophical way.
2- Defiant — for Mobile
This is a great wallet, I prefer doing all my layer 2 stuff on a computer rather than on my phone, but I like having access to it on the go as well. There are a couple things I really enjoy from this product.
1-You can hold Bitcoin in the main chain, in the Lightning Network and in Rootstock in the same wallet, and transfer between them. To my knowledge this is the only wallet that can do that. For me that is everything I need in one single app, it’s fantastic.
2-Rootstock comes already installed and all the different tokens and everything you need ready to go from the start.
3- Like Liquality it is an open and honest protocol with a great team behind it. It even allows for p2p (peer to peer) Bitcoin transfers, a really great feature to on-ramp fiat with no KYC.
https://www.defiantapp.tech/en
Before I go, there is one project that has attracted my attention and its worth mentioning:
Tally Ho
To my knowledge it is the first DAO Wallet to ever exist. The concept is strange but basically what it means is that the Tally Ho community created a wallet, and they all work on it together.
Everyone then gets to vote on the important decisions of the project, creating a sense of ownership over the protocol.
To me this is absolutely incredible, that people are using the internet and blockchain to collaborate like this is phenomenal. I started following them out of sheer curiosity and asked a few times if they were planning to make their wallet interoperable with Rootstock at some stage, so I could start using it for testing.
It was recently announced that the next update for the wallet will include the ability to use Rootstock and all its platforms.
When that happens I will try it out and write another blogpost about it. I will also continue to find interesting services, and projects working on Bitcoin and its subsequent layers like Lightning and Rootstock.
Please feel free to message me and show me a project I should cover in the future. I am always seeking to learn about interesting things happening in the industry.
For more information visit WeAreBitcoin.world
