In a major step towards blockchain innovation and interoperability, Cardano has announced a new association with BitcoinOS (BOS), a smart contract operating system for bitcoin, the world's first and largest cryptocurrency. New alliance will aim to unlock bitcoin's trillion-dollar liquidity to ADA Investors and create new opportunities for cross-chain capabilities for Web3.
Cardano announces partnership with BitcoinOS
in an official btc-rails-through-bitcoinos-integration-with-emurgo/” rel=”nofollow noopener” target=”_blank”>blog post Thursday, October 24 EMURGOthe founding entity of the Cardano blockchain revealed that it will work with BitcoinOS to unite bitcoin/bitcoin-liquidity-pools-july/amp/” rel=”nofollow noopener” target=”_blank”>The enormous liquidity of bitcoinvalued at $1.3 trillion, in the Cardano Decentralized Finance (DeFi) ecosystem. This means that Cardano users and ADA investors will be able to directly and securely use bitcoin's vast capital base in Cardano's DeFi applications.
Expressing optimism about the new collaboration, EMURGO Founder and Chief Executive Officer (CEO) Ken Kodama highlighted the importance of the alliance and emphasized that BOS has the ability and potential to introduce new cross-chain capabilities that empower users of Cardano and ADA investors. , projects within the ecosystemdeveloper security and trustless access to the bitcoin ecosystem.
Furthermore, Kodama revealed that the partnership with BOS will further support a more accessible and interconnected society. web3 environment across various blockchains, ultimately driving greater innovation and adoption of DeFi and other decentralized solutions.
EMURGO has revealed that the first technical milestone of the new partnership will be the integration of the BOS Grail bridge into Cardano's open source blockchain ecosystem. This Grail Bridge is a core technology that will facilitate the secure and trustless connection of bitcoin and bitcoin-based assets using BOS's Zero Knowledge (ZK)-backed BitSNARK verification protocol.
BitSNARK is the first verification protocol that allows zk-SNARKS (Non-Interactive Succinct Argument Knowledge) to run on bitcoin without changes to the core bitcoin protocol. Using this innovative approach with the Grail Bridge will effectively allow bitcoin liquidity to flow seamlessly into Cardano's DeFi applications, offering improved interoperability and scalability.
Implications of the new partnership
The new partnership with EMURGO and BOS will see Cardano become the first Layer 1 blockchain to leverage BitcoinOS. ZK-based solutionspositioning it as a key player in the DeFi ecosystem.
Furthermore, through the integration of bitcoin into Cardano, DeFi applications such as Fluid Tokens and various other DeFi platforms in the cardano blockchain They will be able to allow their users to interact directly and easily with bitcoin. This innovative approach will significantly increase its liquidity pool and attract more users and developers to its ecosystem, potentially leading to massive investment. blockchain adoption.
Furthermore, bitcoin itself will benefit from the partnership between EMURGO and BOS. With BOS enabling more use cases by allowing ecosystems like Cardano to take advantage bitcoin-global-liquidity-100/amp/” rel=”nofollow noopener” target=”_blank”>bitcoin liquidity According to ZK testing, bitcoin, already the world's most popular cryptocurrency, will become a more versatile asset, solidifying its position in the Web3 space.
Also speaking about the new collaboration, BitcoinOS CEO Edam Yago mentioned that BOS's ZK-based solutions have consistently unlocked new scaling capabilities for bitcoin, and will now extend this benefit to various ecosystems beyond bitcoin, driving greater growth in the industry. .
Featured image created with Dall.E, chart from Tradingview.com
