In a major move towards blockchain innovation and interoperability, Cardano announced a new partnership with Bitcoin OS (BOS), the smart contract operating system for Bitcoin, the world’s first and largest cryptocurrency. . This new partnership aims to unlock trillions of dollars of Bitcoin liquidity for ADA investors and create new opportunities for Web3’s cross-chain capabilities.
Cardano announces partnership with BitcoinOS
In an official blog post on Thursday, October 24th, EMURGO, the founder of the Cardano blockchain, announced that it will bridge the massive liquidity of $1.3 trillion worth of Bitcoin to the Cardano decentralized finance (DeFi) ecosystem. announced that it will cooperate with BitcoinOS to This means Cardano users and ADA investors can directly and securely tap into Bitcoin’s extensive capital base in Cardano’s DeFi applications.
Ken Kodama, Founder and CEO of EMURGO, expressed optimism about the new partnership and emphasized the importance of the partnership, adding that BOS has a new pipeline that will strengthen Cardano users and ADA investors. He highlighted the ability and potential to introduce cross-chain functionality. , security for projects in the ecosystem, developers, and trustless access to the Bitcoin ecosystem.
Additionally, Kodama said the partnership with BOS will further support a more accessible and interconnected Web3 environment across various blockchains, ultimately facilitating further innovation and adoption of DeFi and other decentralized solutions. It was revealed that it would be done.
EMURGO revealed that the first technical milestone in 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 facilitates secure and trustless bridging of Bitcoin and Bitcoin-based assets using the BitSNARK validation protocol that supports BOS’s Zero Knowledge (ZK).
BitSNARK is the first verification protocol that allows zk-SNARKS (Succinct Non-interactive Argument Knowledge) to run on Bitcoin without changing Bitcoin’s core protocol. Using this innovative approach with Grail Bridge effectively allows Bitcoin liquidity to flow seamlessly into Cardano DeFi applications, enhancing interoperability and scalability.
What the new partnership means
With the new partnership with EMURGO and BOS, Cardano becomes the first layer-1 blockchain to leverage BitcoinOS’ ZK-based solution, establishing itself as a major player in the DeFi ecosystem.
Additionally, Bitcoin integration on Cardano allows users to directly and easily interact with Bitcoin in DeFi applications such as Fluid Tokens and various other DeFi platforms on the Cardano blockchain. This innovative approach could significantly increase the liquidity pool, attract more users and developers to the ecosystem, and lead to mass adoption of blockchain.
Additionally, Bitcoin itself will benefit from the EMURGO and BOS partnership. BOS will allow ecosystems like Cardano to leverage Bitcoin’s liquidity through ZK proofs, enabling more use cases, making Bitcoin, already the world’s most popular cryptocurrency, , it will become a more versatile asset and solidify its position in the Web3 space.
BitcoinOS CEO Edam Yago also spoke about the new collaboration, saying that BOS’s ZK-based solutions are constantly unlocking new scaling capabilities for Bitcoin, and that the company plans to extend this benefit to a variety of ecosystems beyond Bitcoin. system and foster further growth of the industry. .
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