Rootstock Enhances Bitcoin's DeFi Security with Increased Hashrate Share
For years, Bitcoin has been regarded as a secure store of value but lacked many of the programmability features available in other blockchain networks, notably Ethereum. While Ethereum's dominance in the DeFi sector is well-established, Bitcoin's limited scripting capabilities have prevented it from achieving similar prominence in the space. Rootstock, by integrating smart contracts with Bitcoin, aims to leverage Bitcoin's security and decentralisation while also making it more adaptable to the growing demand for DeFi services.
One of the key advancements in Rootstock's latest efforts is its contribution to Bitcoin's overall hashrate. Hashrate is the computational power required to process transactions and secure the network, and it plays a vital role in maintaining blockchain integrity. The increase in Rootstock's hashrate share is an important factor in improving Bitcoin's security, particularly as the ecosystem grows more complex with the addition of smart contract functionality. By boosting its hashrate share, Rootstock provides a stronger shield against potential attacks, such as double-spending or malicious 51% attacks, that could compromise the security of both Bitcoin and its additional smart contract capabilities.
See also Telegram Bond Fund to Tokenise $500m Bonds on TON Network
The significance of Rootstock's contributions goes beyond technical performance. As it integrates with Bitcoin, Rootstock makes it easier for developers to build on the Bitcoin blockchain, providing greater flexibility in the development of dApps. Rootstock's compatibility with Bitcoin allows developers to tap into Bitcoin's established and robust user base while adding advanced functionalities through the Rootstock platform.
Smart contracts, which are at the heart of DeFi, enable trustless financial transactions without the need for intermediaries. By combining these with Bitcoin's inherent security model, Rootstock offers a promising solution for users and developers alike. The project's work in enhancing security through hashrate support complements its broader mission of ensuring the long-term viability and competitiveness of Bitcoin in the rapidly evolving DeFi landscape.
Although Bitcoin's energy consumption has drawn criticism due to its reliance on proof-of-work , Rootstock's innovation demonstrates that scaling the network can be done without sacrificing security. As one of the leading DeFi platforms to incorporate Bitcoin into its framework, Rootstock's developments suggest that Bitcoin could become a more formidable player in the DeFi sector moving forward.
For Bitcoin to thrive in the DeFi world, the integration of features like smart contracts and improved security is essential. Rootstock's success in merging these elements without compromising Bitcoin's decentralisation model is a critical step in this direction. The increase in hashrate not only strengthens the network's defences but also reassures users and investors of the project's commitment to robust security practices.
Arabian Post – Crypto News Network
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 hours ago
- Zawya
Abu Dhabi completes 95% of first phase of Environmental Centennial 2071 plan
ABU DHABI – The Environment Agency – Abu Dhabi (EAD), in collaboration with its strategic partners, announced that 95 percent of the first phase plan of the Abu Dhabi Environmental Centennial 2071 was successfully completed by the end of 2024. This remarkable success was achieved in only the second year of the plan's rollout in 2023 - further driving the emirate's environmental sustainability agenda with the ambitious goal of making Abu Dhabi a global leader in environmental and climate action by 2071. The Government of Abu Dhabi has achieved 359 milestones and positive outcomes under the plan, with 63 initiatives exceeding their targeted goals. These achievements were made possible through the active participation of several key government entities including the Department of Municipalities and Transport – Abu Dhabi, the Department of Culture and Tourism – Abu Dhabi, the Department of Energy – Abu Dhabi, the Department of Government Enablement – Abu Dhabi, the Abu Dhabi Agriculture and Food Safety Authority, the Abu Dhabi Investment Office, the Abu Dhabi Public Health Centre, Abu Dhabi Mobility, and Abu Dhabi Maritime. The government's international collaborations also span more than 24 countries worldwide to help fulfil the plan's objectives. Commenting on this achievement, Sheikha Al Mazrouei, Executive Director of the Integrated Environmental Policy and Planning Sector at EAD, said, 'This remarkable achievement, which has exceeded expectations, is the result of collaborative efforts among leading government entities that place sustainability at the heart of their priorities – fully aligned with Abu Dhabi's vision. These outcomes reflect our strong belief in collective action and the spirit of positivity that continues to guide us and our partners forward in achieving the Abu Dhabi Environmental Centennial 2071 goals.' The first pathway, 'a vibrant emirate, thriving in nature,' achieved an 88 percent completion rate, encompassing several key accomplishments. These include the implementation of a comprehensive aquaculture development plan, the launch of the UAE's first hydrogeological map – which serves as a national reference for groundwater resource assessment – plus the development of a comprehensive sustainable agricultural development plan and the creation of an integrated air quality modelling framework. Other milestones include the launch of Abu Dhabi's Guide for the Safe Use of Bicycles and E-scooters, the update of infrastructure guidelines for micro-mobility, and the development of a research agenda and observatory plan for indoor air quality in priority sectors. The second pathway, 'green force resilient to climate change', exceeded its set targets, reaching a completion rate of 102 percent. This pathway saw the implementation of numerous projects and initiatives, including the development of the 2025-2050 Environmental Climate Adaptation Plan in conjunction with 41 entities, the establishment of smart agriculture standards to ensure sustainable food security and the formulation of a comprehensive energy sector policy framework, consisting of 93 initiatives extending to 2035. It also included the design and implementation of hydrogen and electric bus charging infrastructure, and the launch of electric bus operations – a project that went on to win a global innovation award in sustainability. Additional achievements include the development of a Marine Sector Sustainability Action Plan and the Abu Dhabi Energy and Water Efficiency Strategy 2030. Under the third pathway, 'enablers for future environmental leadership,' participating entities achieved a 97 percent completion rate. Highlights include the launch of the Emirate's 'Dark Sky' general policy – an initiative aimed at reducing nighttime light pollution – and the introduction of a community engagement initiative to co-design solutions for air and noise quality. In the area of environmental education and awareness, Abu Dhabi hosted the 12th World Environmental Education Congress (WEEC), reinforcing international cooperation and launched the seventh edition of the Sustainable Schools Initiative. Additionally, a Marine Sustainability Research Centre was established under the emirate's marine sector, and 'Sukun' – the world's largest 3D-printed water taxi- was launched. An intelligent soil quality monitoring system was also developed, integrating AI, remote sensing and spectroscopy for pollutant detection. The Environment Agency – Abu Dhabi, in collaboration with its strategic partners, continues to strengthen Abu Dhabi's leadership role in environmental and climate action.
Zawya
7 hours ago
- Zawya
Saudi issues 83 new industrial project permits in June
The Saudi Ministry of Industry and Mineral Resources issued 83 new industrial licenses in June, involving investments of more than 950 million Saudi riyals ($253 million). The new licenses are expected to create over 1,188 jobs across various regions of the Kingdom, signaling continued momentum in the drive to expand its industrial base. According to the monthly report released by the National Centre for Industrial and Mining Information, 58 new factories also commenced operations in June. These factories include a combined investment of SAR1.9 billion ($506.6 million) and are forecast to generate 2,007 new jobs. (Writing by Nadim Kawach; Editing by Anoop Menon) (
The National
a day ago
- The National
University of Baghdad to establish AI-focused college
The University of Baghdad in Iraq will establish a college dedicated to artificial intelligence, according to a ministerial order issued on Monday. It comes as countries throughout the Middle East seek to become major players in the booming AI sector, which is at the centre of unprecedented investment and interest. Naeem Al Aboudi, Iraq's Minister of Higher Education and Scientific Research, said the decision to have a specific college at the University of Baghdad dedicated to AI was part of a larger 'strategic vision to develop the Iraqi academic system and keep pace with global digital and knowledge transformations'. According to the news release, the AI-focused portion of the University will begin in the upcoming academic year, and will focus on AI as it applies to 'engineering, biomedical applications and big data'. Estimates indicate that between 60,000 and 70,000 students are enrolled in the University of Baghdad. In common with other countries in the Middle East, Iraq sees AI as an opportunity to diversify its economy away from oil. Experts warn, however, that AI could disrupt labour in the short term. Emphasising AI in universities is seen as a way to blunt the impact of labour disruption, helping to prepare students for a new economy. The University of Baghdad is not alone in its endeavour to formally incorporate AI into higher education. In 2019, before AI was dominating headlines, the UAE announced plans to establish of the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the world's first higher learning institution dedicated to AI. MBZUAI opened the following year. AI projects and programmes throughout the Middle East have helped to place a greater emphasis on the inclusion of Arabic and other cultural aspects that might have otherwise been left out of the technology development, which initially focused on English and Western data.
