Bitcoin-Focused Rootstock (RSK) Creates $200,000 Fund to Attract Dapp Developers

Bitcoin-allied firm Rootstock (RSK) has offered up to $200,000 in grant money to support the development of decentralized applications (DApps) on the Bitcoin blockchain.

According to the announcement made today (December 3, 2019), developers will need to submit their ideas, which will run through a four-stage application process in order to qualify for the grant. The review process will include regular feedback from the Rootstock RSK team.

RSK brands itself as the “first smart contract platform secured by the Bitcoin network.” The startup currently looks for developers to submit “any software tools that help the RSK ecosystem,” including “an in-browser wallet for DApps, a smart contract compile and deploy toolchain.” They can even pitch new proposals for RSK improvement.

Supporting DApp Development on Bitcoin

The idea to financially reward the creation of DApps on Bitcoin blockchain is a motivating scheme for a startup that is looking to assemble a team of developers for its smart-contract base. Currently, most active DApps operate on rival public blockchains, which include Ethereum, Tron, and EOS.

Statistics from the State of the DApps reveal that nearly 1447 decentralized applications are already running on various public blockchains, which are Bitcoin competitors.

All along, the Bitcoin development community has not focused on the creation of smart contracts. Instead, developers seem to focus more on other solutions including the creation of transaction-scaling solutions such as the Lightning Network.

Aside from the RSK strategy, the Bitcoin-allied Blockstream is focusing on the development of Simplicity, which is their Bitcoin-based smart contracting language.

According to the RSK team, developers will also need to float DApp proposals that are a good fit for RSK. This would be part of the qualifications for a successful grant. The applicants, who should have the ability to deliver on their proposal, have the next one year (12 months) to pitch their DApp ideas to the RSK team.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Hank Klinger
Hank Klinger
Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,230FansLike
2,566FollowersFollow
4,065FollowersFollow

Live Bitcoin Price & Latest BTC Chart News

Today's Latest Crypto News

Latest Analytics Shows 64% Of Controversial Stablecoin USDt Supply Controlled by 119 Addresses

Tether’s stablecoin ‘USDT’ continues to dominate this segment of the crypto market according to the latest statistics. However, questions on its decentralization inadequacy has...

NYAG Responds To Bitfinex, Tether Calls The Case A ‘Highly Misleading Factual Presentation'

The New York Attorney General Office (NYAG) has responded to Bitfinex’s appeal to have the authority stop the ongoing investigations against them and Tether....

EU’s Upcoming AML Regulation Forces Bitcoin Payments App Bottle Pay to Shut Down

EU’s 5th anti-money laundering directive coming into effect on 10th January 2020 To not force this onto the community, Bottle Pay will cease...

Africa’s First Stablecoin is based on Nigerian Naira & Built on Binance Chain

The very first stablecoin of Africa is backed by Naira, the fiat currency of Nigeria and it will be built on Binance Chain, the...

Libra Whitepaper Gets Updated, Association Members Won't Get Paid On Reserve Asset Profits

The new whitepaper doesn’t use interest to pay early investors, which are predominantly involved in the Libra Association. The interest will still go...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.