TL;DR
- Cardano integrates with BitcoinOS (BOS), allowing access to over $1.3 trillion in Bitcoin liquidity for its DeFi ecosystem.
- The collaboration offers ADA users access to Bitcoin assets without intermediaries, using zero-knowledge (ZK) technology to ensure security.
- The Grail bridge, part of this integration, facilitates reliable Bitcoin transactions on the ADA blockchain.
Cardano has announced its integration with BitcoinOS (BOS), which will allow access to over $1.3 trillion in Bitcoin liquidity for its decentralized finance (DeFi) ecosystem.
This collaboration aims to enable Cardano users to access Bitcoin assets without the need for intermediaries, using zero-knowledge (ZK) technology that guarantees security and functionality across different blockchains.
Cardano is becoming a Bitcoin layer.
Listen to BOS co-founder @EdanYago explain the magnitude of this moment.
“We are looking at an entirely new phase for Bitcoin, Cardano, crypto, and finance.” pic.twitter.com/6JFEEdht8D
— BitcoinOS (@BTC_OS) October 24, 2024
The integration with BOS includes the establishment of the Grail bridge, a key component that utilizes the ZK BitSNARK verification protocol. This bridge ensures that Bitcoin transactions are conducted reliably on the Cardano blockchain, allowing the transfer of Bitcoin assets without compromising the security or decentralization of the platform. Thanks to this collaboration, DeFi projects on ADA will be able to benefit from Bitcoin liquidity, enhancing development and expansion opportunities in the sector.
✨ EMURGO teams up with @BTC_OS, the smart contract operating system for Bitcoin, to enable cross-chain interoperability between Cardano and Bitcoin.
This tech collaboration makes #Cardano the first Layer-1 blockchain to leverage BitcoinOS’ zero-knowledge cryptography and… pic.twitter.com/jV4uHwea4G
— EMURGO (@emurgo_io) October 24, 2024
What Will Be the Advantages for Cardano and Bitcoin?
Ken Kodama, CEO of EMURGO, the entity behind Web3 adoption in Cardano, highlighted that this partnership not only provides secure access to the Bitcoin network but will also unlock new interconnected capabilities between different blockchains. This is crucial for driving innovation and the adoption of decentralized solutions. According to Kodama, users, projects, and developers will have a reliable place to interact with the Bitcoin ecosystem, which will favor the strengthening of the network.
For his part, Edan Yago, CEO of BitcoinOS, emphasized that the alliance represents an important advance toward Bitcoin scalability. With this integration, the goal is to provide a decentralized and reliable bridge for native Bitcoin assets, allowing developers of decentralized applications (dApps) and Layer 2 (L2) solutions to use Bitcoin more effectively.
Cardano, known for its research-based approach and development, has processed nearly 100 million transactions since its inception. With over 1,370 Web3 projects underway, the integration with BitcoinOS reinforces its position as one of the leading platforms in the crypto market