Daniel Fogg, who is the Chief Executive Officer at Rootstock Labs, explained the efforts of Rootstock Labs, in the advancements of Bitcoin; being inventive. He discussed the effects of Decentralized Finance (DeFi) on Bitcoin's trajectory.
The first layer two network of Bitcoin, and the first sidechain of Bitcoin was established by Rootstock; which was an idea that was initiated by Nakamoto Satoshi. This advancement used the hashing potentials of Bitcoin to protect the network.
Rootstock has been active in the last 5 years in the cryptocurrency sector, which is an innovation that has been around for about 2 decades. Daniel Fogg, is a crypto figure who has been pivotal in the advancements and expansions seen in Rootstock.
The market cap of Bitcoin was about $600 billion as of last month, staying ahead of all other cryptocurrencies; with regards to the worth of its market. However, most Bitcoin are in storage for the long run, this makes the layer two networks of Bitcoin more important says Fogg.