Rootstock's native token RBTC, also known as "Smart Bitcoin," allows users to utilize their BTC for various services on the Rootstock Bitcoin layer 2. Rootstock functions as a Bitcoin sidechain that offers EVM-compatible smart contract capabilities while utilizing bitcoin as its native asset. RBTC is pegged at a 1:1 ratio with BTC, meaning 1 RBTC is equivalent to 1 BTC. When transferring bitcoin to Rootstock, the bitcoin is locked, and an equivalent amount of RBTC is released. Rootstock operates as a permissionless sidechain with a merge-mined proof of work (PoW) consensus mechanism, utilizing over 50% of Bitcoin's hash power. This makes Rootstock the most hashpower-mined sidechain, second only to Bitcoin itself. RBTC is used as gas for smart contract execution on the network, similar to how ETH is used as gas on Ethereum. Unlike other blockchain native tokens, Rootstock is non-custodial and maintains the censorship resistance of Bitcoin.