Rootstock raises a $1m seed round

Investing | March 23, 2016 By:

RSK Labs announced it has raised $1 million in seed funding in a round that included Bitmain Technology, Coinsilium, and Digital Currency Group.

RSK is developing Rootstock, an open-source smart contract platform with a 2-way peg to Bitcoin that also rewards Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution.

“Our idea is to leverage everything that has been built by the community so far. Not only on the network effect of bitcoin, because the miners will have an additional revenue stream by merge-mining Rootstock, but by providing Ethereum developers a place to build their applications,” said RSK Labs CEO Diego Gutierrez Zaldivar.

RSK Labs is a bitcoin blockchain smart contracts startup.