RSK is now the first Bitcoin sidechain that integrates with Multichain. The latter has a TVL of $1.9 billion. That makes it one of the top contenders in the field of cross-chain activity. This move makes it possible to move ETH, USDC, BUSD, and more between RSK, Ethereum, and the BNB Chain.
As a result, Bitcoin gets better access to DeFi. The Multichain bridge users can now enjoy the Rootstock RSK benefits. So, let’s have a look at what this means.
Excited to integrate with @RSKsmart to connect #RSK with #Ethereum and #BNB ecosystem ➡️ https://t.co/Dgis89Myed#RSK is the most secure smart contract platform, enabling #dApps secured by the #Bitcoin Network to bring benefits to end users.
[1/2]
— Multichain (Previously Anyswap) (@MultichainOrg) July 4, 2022
The Multichain Bridge
Currently, Multichain supports no less than 53 blockchains. Add to this well over 2400 bridges and thousands of assets. For example, ETH, USDC, BUSD, BNB, WBTC, and DAI. This resulted in them processing hundreds of millions of dollars in daily volume.
Their community keeps growing on a daily basis. They welcome thousands of visitors and users each day. In the cross-chain field, they’re one of the top players, with a TVL of $1.9 billion.
Adding Rootstock RSK opens new doors for Multichain. They never added a Bitcoin sidechain before. This puts them in a unique position. Bitcoin fans on one side and EVM-powered DeFi on the other side can now meet. On top of that, RSK calls itself the most secure smart contract platform in the world.
Builders on RSK don’t need to build bridges anymore. They can use these resources now for other features. This also means that they have a shorter time now to market for new platforms built on RSK.
Source: Multichain website
Furthermore, Multichain introduced anyCall recently. This is an interoperable protocol. It enables cross-chain messages and name contracts. A powerful tool for developers. They can now build cross-chain decentralized applications. Foremost on Rootstock, but soon followed by other networks they support.
As a result, you can start bridging your ETH, USDC, BUSD, BNB, WBTC, and DAI. Currently, between Ethereum and RSK, soon also followed by the BNB chain. Over time, Multichain will make more chains and tokens available to bridge for the RSK network.
RSK uses merged mining to leverage the security of the Bitcoin Network. In the meantime, they enable EVM-compatible smart contracts.
Conclusion
Multichain integrating Rootstock RSK is a great move. RSK is the first Bitcoin sidechain on Multichain. This allows Bitcoiners to enjoy the DeFi world with all its exciting options.
The current Multichain (MULTI) price is $3.98, which is 7.9% up from a day earlier. According to CoinGecko, the market cap is $73 million. There are 18 million tokens out of a 100 million in circulation. Over the last 14 days, the token is up 14.1%. Looking back at 30 days, it is down 17.3%. These are good numbers in the current market.
⬆️Also, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️Above all, find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.
