On December 6, 2024, Rooch Network launched its pre-mainnet phase, marking a significant step in enhancing Bitcoin's functionality. The project aims to facilitate native, non-custodial applications for Bitcoin, allowing users to engage in decentralized finance (DeFi) and smart contracts directly on the Bitcoin network.
During a successful three-month testnet, Rooch processed over 130 million transactions with participation from more than 7,500 unique addresses. Features included HODLcoin minting and a self-staking mining mechanism that enables yield generation from tBTC stored in users' wallets.
The pre-mainnet synchronizes all historical transactions from Bitcoin's genesis block and aims to lay a solid foundation for the official mainnet, ensuring security and scalability. Rooch's non-custodial approach allows users to interact with applications directly through their BTC wallets, enhancing user experience without the need for third-party custodial services.
Additionally, Rooch has introduced the Grow Bitcoin platform, enabling users to vote for Bitcoin projects and earn rewards based on their BTC holdings. The integration of the Move programming language will allow developers to create Bitcoin applications, further expanding the ecosystem.
As Rooch progresses towards its official mainnet launch, it aims to redefine the narrative of 'DeFi on Bitcoin' by providing a robust infrastructure for decentralized applications.