RSK Labs plans to develop a new sidechain called Rootstock for smart contracts on the Blockchain (bitcoin).

Bitmain, Coinsilium, and Digital Currency Group (DCG) were among the investors that helped RSK Labs raise $1 million USD in a series A funding.

"Rootstock is the most exciting opportunity for me among the startups in the bitcoin ecosystem. The tidal wave of startups developing smart contract solutions based on RSK will bring countless miracles," -Bitmain CEO Wu Jihan.

Instead of trying to re-invent the wheel, Rootstock joins a growing list of efforts that include Overstock and Blockstream in building sidechain technology based development that brings the most promising and realistically viable offerings to the blockchain technology space. 

Rootstock plans to launch by the end of 2016.

Story by dinbits
image by dinbits staff

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