Decentralized finance (DEFI) on bitcoin blockchain may still be in its early stages relative to the atherium, but bitcoin DEFI (BTCFI) is getting safe and cheaper, Crypto Analytics firm Mesari said in a new report.
A central contestant is Rootstock, one of the oldest bitcoin layer -2 projects, Crypto analytics firm Mesari said in its “State of Routestock” report published on Thursday.
Rootstock is now secured by 81% of the total isht of bitcoin, which means the amount of miners is the hashtte for the hashtte is also approved the transaction on layer 2. The figure was just 56% before the onboarding of Foundry and Spiderpool, the world’s largest and sixth largest mining pool, respectively in February.
Mesari also noticed that the transaction fee on rootstock is 95% cheaper than the average bitcoin transactions and 55% cheaper than those on the atherium.
The rootstock is one of the several projects to bring more utility for bitcoin through expanding provisions for bitcoins, enabling by Bitvmx enabled by “BITVMX” capable of Bitvmx, a modified version of BitVM programming language. Other major bitcoin layer -2 projects include stack and bob (“build on bitcoin”).
The project has also associated with the Bizing Protocol Learzero to enable rootstock-country applications to join dozens of other blockchain, including atherium and solana. According to the mesari, its speed determines the platform by increasing BTCFI through the remaining 2025.
Mesri analyst Andrew Yang said, “As BTCFI continues to grow, rootstock is well deployed to adopt through a core upgrade such as a 60% reduction in transaction fees, along with continuous investment in builder education and encouragement programs.”
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