21 Mar '16, 3pm

Rootstock Raises $1 Million to Bring Smart Contracts to Bitcoin

Rootstock Raises $1 Million to Bring Smart Contracts to Bitcoin

Blockchain startup RSK Labs has raised $1m in seed funding to support the development of Rootstock, a smart contracts platform that would be developed as a sidechain on the bitcoin blockchain. Bitcoin mining company Bitmain Technology led the round, which also drew support from bitcoin and blockchain focused investment companies Coinsilium and Digital Currency Group (DCG ). In an interview, RSK Labs CEO Diego Gutierrez Zaldivar said that the goal of the project was to build a blockchain network that would attract support from both bitcoin miners as well as developers of smart contract applications attracted to platforms like Ethereum . He told CoinDesk: "Our idea is to leverage everything that has been built by the community so far. Not only on the network effect of bitcoin, because the miners will have an additional revenue stream by merge-mining Rootstock, but by providi...

Full article: http://www.coindesk.com/smart-contract-1-million-bitcoin-...

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