Rootstock's Inventions and Decentralized Finance (DeFi) Expansion of Bitcoin with CEO Daniel Fogg
Daniel Fogg, who is the Chief Executive Officer at Rootstock Labs, explained the efforts of Rootstock Labs, in the advancements of Bitcoin; being inventive. He discussed the effects of Decentralized Finance (DeFi) on Bitcoin's trajectory.
The first layer two network of Bitcoin, and the first sidechain of Bitcoin was established by Rootstock; which was an idea that was initiated by Nakamoto Satoshi. This advancement used the hashing potentials of Bitcoin to protect the network.
Rootstock has been active in the last 5 years in the cryptocurrency sector, which is an innovation that has been around for about 2 decades. Daniel Fogg, is a crypto figure who has been pivotal in the advancements and expansions seen in Rootstock.
The market cap of Bitcoin was about $600 billion as of last month, staying ahead of all other cryptocurrencies; with regards to the worth of its market. However, most Bitcoin are in storage for the long run, this makes the layer two networks of Bitcoin more important says Fogg.