Growing DeFi on Bitcoin: Rooch Network joins Cointelegraph Accelerator
Rooch Network, an application layer for Bitcoin featuring MoveVM and Bitcoin staking, has become the latest participant of Cointelegraph Accelerator.
Cointelegraph has announced that Rooch Network, a blockchain project building a native application layer for the Bitcoin ecosystem, has joined the Cointelegraph Accelerator program.
Bitcoin (BTC) was conceived as an alternative payment system, a digital cash. With a gigantic increase in value over the years, BTC rapidly became an appealing investment vehicle. Thus, the original cryptocurrency is primarily used for transacting and investing.
However, as the role of Bitcoin as a store of value grew, its potential in decentralized applications (DApps) was hindered by technical constraints. While Ethereum and other blockchains have found ways to adapt and support DApps and smart contracts, Bitcoin’s contribution to decentralized finance (DeFi) remained limited due to its lack of native smart contract functionality.
