Foundry, the world's largest Bitcoin mining pool, enhances the security of the Bitcoin layer-2 network Rootstock through merge mining, injecting 200 EH/s to bring the total to 740 EH/s. Miners participating in merge mining with Rootstock earn 79% of its transaction fees.
Foundry , the world's largest Bitcoin mining pool, is significantly enhancing the security of Rootstock , a Bitcoin layer-2 network, through merge mining. This strategic move injects 200 exahashes per second (EH/s) into Rootstock 's existing hashrate, bringing the total to 740 EH/s, which represents roughly 80% of the computing power securing the Bitcoin network.
Merge mining allows miners to simultaneously mine two or more cryptocurrencies that utilize the same hashing algorithm without sacrificing overall mining efficiency. This enables Foundry to bolster Rootstock's security without incurring additional energy costs. For miners who choose to participate in merge mining with Rootstock, Foundry offers a compelling incentive: 79% of Rootstock's transaction fees, paid in rBTC, a native token on the Rootstock network.Rootstock itself is a prominent player in the Bitcoin ecosystem, acting as a layer-2 solution that enhances Bitcoin's functionality by integrating smart contract capabilities and Ethereum Virtual Machine (EVM) compatibility. By leveraging the security of the Bitcoin network while introducing these advanced features, Rootstock aims to attract developers and users seeking a robust platform for decentralized applications (dApps) and innovative financial solutions. This collaboration between Foundry and Rootstock signifies a significant step towards expanding the utility and reach of Bitcoin, fostering a more diverse and interconnected blockchain landscape
FOUNDRY ROOTSTOCK MERGE MINING BITCOIN LAYER-2 TRANSACTION FEES SECURITY SMART CONTRACTS ETHEREUM VIRTUAL MACHINE
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