Bitcoin Network Supports DeFi Pre-Mainnet Launch for Non-Custodial Apps

Introduction

Rooch Network, a pioneering blockchain project focused on building a native application layer for the Bitcoin ecosystem, has successfully launched its pre-mainnet phase following a three-month testnet period. This significant milestone marks a crucial step towards unlocking a multitude of functionalities and use cases within the Bitcoin network.

The Evolution of Bitcoin

Bitcoin (BTC) was originally designed as a peer-to-peer electronic currency, but its potential extends far beyond this initial scope. Developers continue to innovate and explore various applications on the Bitcoin network, pushing the boundaries of what is possible with decentralized finance (DeFi), smart contracts, and blockchain-based applications.

The introduction of an application layer for Bitcoin could potentially revolutionize the way individuals and businesses interact with BTC. This native, non-custodial approach would enable users to engage in a wide range of functionalities directly on the Bitcoin network, enhancing scalability and improving overall user experience.

Rooch Network: Enabling Native, Non-Custodial Interactions

Rooch Network, a layer-2 solution aimed at augmenting the functionality of Bitcoin, has introduced its pre-mainnet phase as a means to build native, non-custodial Bitcoin applications and unlock yield opportunities for BTC holders. The network’s primary objective is to facilitate seamless interactions between users, enabling them to access various services and features without the need for intermediaries.

Pre-Mainnet Objectives

During the pre-mainnet phase, Rooch Network aims to:

• Gradually iterate and improve the network: Refine the overall performance and functionality of the network.
• Enhance security measures: Implement robust security protocols to protect user assets and data.
• Decentralization: Foster a decentralized environment, allowing users to participate in governance and decision-making processes.
• Explore application scenarios within the Bitcoin ecosystem: Identify new use cases and applications for the native application layer.
• Transition smoothly to the official mainnet: Ensure a seamless transition to the live network.

Non-Custodial Bitcoin Applications

As an application layer for Bitcoin, Rooch facilitates both utility and yield generation for BTC and other Bitcoin assets, including Ordinals and BRC-20 tokens. A distinguishing feature of Rooch is its non-custodial approach, allowing users to interact with Rooch-powered applications directly through their own BTC wallets without transferring assets to third-party custodial wallets or bridges.

Pre-Mainnet Demonstrations

The pre-mainnet will demonstrate Rooch’s ability to enable native Bitcoin applications and unlock yields for BTC in a fully non-custodial manner. Users can engage with various features, such as:

• HODLcoin minting: Test the self-staking mining mechanism to earn yields directly from their tBTC stored in their wallets.
• Rooch Clicker Game: Showcase the network’s session key functionality, enabling users to complete multiple transactions with a single click.

Grow Bitcoin Platform

Rooch has introduced Grow Bitcoin, a platform designed to bootstrap the Rooch ecosystem and accelerate the growth of the overall Bitcoin ecosystem. The platform allows users to:

• Vote for favorite Bitcoin projects: Participate in decision-making processes and support innovative ideas.
• Get rewards by proving BTC holdings: Unlock incentives by demonstrating their commitment to the Bitcoin network.

Move Programming Language Integration

Rooch is integrating the Move programming language, enabling developers to build Bitcoin applications using this language on Rooch. The pre-mainnet provides all necessary tools for developing mainnet-ready applications, except for the official Rooch protocol utility token, which will launch at a later date.

Participate in the Transformative Phase

As Rooch moves towards its official mainnet launch, the network invites the community to participate in this transformative phase. By introducing a native, non-custodial approach to Bitcoin applications, Rooch seeks to turn a new page in the ‘DeFi on Bitcoin’ narrative.

Learn More about Rooch Network

Visit the Rooch Network website to explore their innovative solutions and participate in the pre-mainnet phase. Join the conversation on social media using the hashtag #Bitcoin#Blockchain#DeFi#Mainnet#CointelegraphAccelerator.

Disclaimer

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