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.

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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.

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