The cross-chain protocol Multichain has integrated a Layer-2 solution for Bitcoin’s Rootstock (RSK). Project representatives told ForkLog.
RSK is a sidechain of the network of the first cryptocurrency, fully compatible with the Ethereum Virtual Machine. The protocol is one of the fastest-growing DeFi ecosystems for Bitcoin.
Multichain supports more than 53 blockchains, over 2,400 cross-chain bridges, and thousands of assets. The value of funds locked in the protocol exceeds $3 billion.
According to the cross-chain project’s team, the integration provides developers on the RSK platform with a number of advantages. For example, they no longer need to spend resources building bridges to access capital and addressable markets. Additionally, they spend less time bringing new products to market.
Users can start transferring ETH, USDC, BUSD, BNB, WBTC, DAI and other assets between RSK and Ethereum, and soon also to BNB Chain, added to Multichain. The team announced additional bridges for the sidechain in the coming weeks and months.
For the cross-chain protocol, RSK became the first supported \”side chain\” of the digital-gold network.
\”We are pleased to see Multichain choosing to integrate RSK as its first L2 solution for Bitcoin. … This is a huge step forward for the sidechain, enabling thousands of new users to access DeFi services,\” said Rootstock co-founder Gutierrez Saldívar.
As reported in December 2021, the Multichain team attracted $60 million in investments in a round led by Binance Labs.
In January, developers reported the discovery of a critical vulnerability in the protocol, affecting tokens WETH, PERI, OMT, WBNB, MATIC and AVAX. A few days later, an expert found that hackers continued exploiting the bug and withdrew assets amounting to at least $3 million.
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