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Bitcoin is a digital currency that runs on a decentralized network known as a blockchain. It is often called "cryptocurrency" because it uses cryptography to secure and verify transactions.
The concept of Bitcoin is based on the idea of decentralization, meaning that it is not controlled by any entity such as a government or bank. Instead, it is powered by a network of users who use their computers to record and verify transactions on the blockchain.
People see Bitcoin as a form of "freedom money" because it allows people to transact and store value without the need for intermediaries such as banks or other financial institutions. This allows for greater financial freedom and autonomy, but also comes with some risks and challenges. For example, the value of Bitcoin can be highly volatile, its use is not yet widespread and it is not accepted by all merchants and service providers. Although that is quickly changing.
Creating a complete Bitcoin economic system.
Rootstock (RSK) is a smart contract platform that is built on the Bitcoin blockchain. It uses a two-way connection to connect it to its own sidechain, allowing users to create and execute smart contracts on the Rootstock network using BTC.
One of Rootstock's goals is to create a complete economic system on the Bitcoin blockchain. This includes the ability to create and use decentralized applications (dApps) and smart contracts, as well as support for other features such as decentralized finance (DeFi) and tokenization. The idea is to enable the development of a wide range of applications and services that can be built on top of Bitcoin, providing more functionality and utility to the Bitcoin network.
These applications would allow users around the world to connect to a complete economic system running on the most decentralized asset the world has ever seen. Providing access to everyone in an open, free and censorship-resistant way.