Multichain adds Rootstock to its blockchain bridge ecosystem
Multichain, a cross-chain platform, has announced the integration of the Bitcoin-based (BTC) smart contract protocol Rootstock (RSK) blockchain into its ecosystem. This will allow users to exchange Ether (ETH), USD Coin (USDC), Binance USD (BUSD) and other assets between RSK, Ethereum and BNB Chain.
According to Monday's announcement, the integration is a major milestone for Multichain because it opens up access to decentralized finance (DeFi) on Bitcoin. This addition will allow users to take advantage of RSK's security and functionality.
The integration will enable RSK to bring Bitcoin to Multichain's ecosystem while also providing access to new markets and use cases for its users. The RSK sidechain is the first Bitcoin-based sidechain to be incorporated into Multichain. It has a unique place in the world of Bitcoin enthusiasts as well as with Ethereum Virtual Machine (EVM)-powered DeFi.
The company said its integration with Rootstock is meant to provide fundamental benefits to builders utilizing RSK. They won't have to spend resources building bridges to capital and addressable markets, for example. They will also have a quicker time marketing new platforms based on RSK.
Users may start bridging their ETH, USDC, BUSD, BNB, WBTC and DAI between RSK's network and Ethereum. Multichain will add additional chains and tokens to the RSK network in the coming weeks and months. RSK co-founder Diego Gutiérrez Zaldívar stated:
The anyCall interoperability protocol has been updated by Multichain, which allows cross-chain communications and name contracts. It will be a valuable instrument for building cross-chain decentralized apps on Rootstock and other supported networks.
Related: DeFi crypto wallet aims to decentralize inheritance
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