IOVLABS introduces a 2.5 million dollar program to promote the development of Bitcoin's Sidechain rootstock

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IOVLabs – ein Unternehmen, das dezentrale Blockchain-Technologien entwickelt – hat ein „strategisches Zuschussprogramm“ in Höhe von 2,5 Millionen US-Dollar gestartet, um die Einführung von Rootstock zu beschleunigen. Letzteres ist eine mit Bitcoin verbundene Sidechain, die intelligente Verträge für das Ökosystem ermöglichen soll. „Starkes Engagement“ zur Förderung von BTC Laut einem Dokument, das von eingesehen wurde KryptoKartoffelDas in Argentinien ansässige Blockchain-Unternehmen wird die Finanzierung nutzen, um die Entwicklung der Bitcoin-Sidechain – Rootstock – voranzutreiben. IOVLabs kündigte außerdem den Start eines Hackaton in gemeinsamer Anstrengung mit HackerEarth an. Die Veranstaltung läuft von Mai bis Juli und durchläuft drei Phasen: eine Ideenfindungsphase, eine …
Iovlabs-a company that develops decentralized blockchain technologies-launched a "strategic subsidy program" of $ 2.5 million to accelerate the introduction of rootstock. The latter is a sidechain associated with Bitcoin that is intended to enable intelligent contracts for the ecosystem. "Strong commitment" for the promotion of BTC according to a document that was viewed by Kryptokspartoffeldas in Argentina-based blockchain companies will use the financing to advance the development of Bitcoin-SiDechain-Rootstock. Iovlabs also announced the start of a hackaton in joint effort with Hackerearth. The event runs from May to July and goes through three phases: a idea -finding phase, a ... (Symbolbild/KNAT)

Iovlabs-A company that develops decentralized blockchain technologies-started a "strategic grant program" of $ 2.5 million to accelerate the introduction of rootstock.

The latter is a sidechain associated with Bitcoin that is intended to enable intelligent contracts for the ecosystem

"strong commitment" to promote BTC

according to a document that was viewed by cryptoco potato The blockchain company based in Argentina will use the financing to promote the development of Bitcoin-SiDechain-Rootstock. Iovlabs also announced the start of a hackaton in joint effort with Hackerearth.

The event runs from May to July and goes through three phases: a finding phase, a development phase and a final pitch in front of a jury from the ecosystems Bitcoin and Rootstock. The program is available from blockchain developers from all parts of the world. Hackaton participants were able to win prices worth over $ 25,000.

Pei Chen-Vice President for Growth at IOVLABS-said the 2.5 million dollar program shows the "strong commitment" of the company to "build a really decentralized financial system on Bitcoin". She believes that developers use the Rootstock-Sidechain and "could help create a freer and fairer financial system for everyone".

The Sidechain praised the fact that it had become "the home of Defi on Bitcoin", which is why it should be available for everyone, regardless of its technical skills.

"In this way, the first billion users are integrated into Web3, and together we can make it," concluded it.

President Daniel Fogg said that he was "excited" how developers use Bitcoin's potential to solve everyday problems for people around the world.

"Every network has its sweet spot, and for rootstock it is about using Bitcoin to create a more accessible and fairer financial system for everyone." Through the combination of EVM compatibility with the unsurpassed security of Bitcoin, Rootstock developers offers a network that can be trusted to support the financial future of people around the world, regardless of their economic status, ”he added.

The previous attempt

as cryptoco potato At the beginning of the year, iovlabs started its rootstock infrastructure framework (Rif) Flyover to enable smooth and faster transmissions between Bitcoin and the Rootstock-Sidechain. The Initiative requires the services of external liquidity providers. Sergio Demian - chief scientist at Iovlabs - commented:

"We are pleased to make the Rif Flyover Protocol accessible to the Rootstock Community. The protocol reduces the time for the transfer of bitcoins between the Bitcoin and Rootstock chain. Transfer never in the care of third parties. ”

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