{"id":97512,"date":"2024-10-24T11:35:14","date_gmt":"2024-10-24T15:35:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=97512"},"modified":"2024-10-24T11:35:19","modified_gmt":"2024-10-24T15:35:19","slug":"cardano-opens-bitcoin-liquidity-with-bitcoinos","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cardano-opens-bitcoin-liquidity-with-bitcoinos\/","title":{"rendered":"Cardano Opens $1.3T Bitcoin Liquidity with BitcoinOS"},"content":{"rendered":"\n

Cardano employs BitcoinOS to incorporate Bitcoin liquidity<\/a> into its DeFi ecosystem, utilizing zero-knowledge cryptography to ensure cross-chain functionality.<\/p>\n\n\n\n

\"Cardano
Cardano Opens $1.3T Bitcoin Liquidity with BitcoinOS<\/em><\/figcaption><\/figure>\n\n\n\n

New integration with BitcoinOS (BOS)\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, an innovative contract platform, is expected to give Cardano access to $1.3 trillion in Bitcoin liquidity for its decentralized finance (DeFi) ecosystem.<\/p>\n\n\n\n

The integration is intended to enable Cardano users to securely access Bitcoin without intermediaries, as a press release shared with Cointelegraph stated. This is a step toward the expansion of DeFi and the enhancement of cross-chain functionality.<\/p>\n\n\n\n

Zero-knowledge (ZK) cryptography<\/a> will be instrumental in the collaboration, as it will enable BOS to integrate BTC assets into Cardano through authenticated transactions that do not involve third parties, thereby facilitating a trustless process.<\/p>\n\n\n\n

Cardano's BTC liquidity<\/strong><\/h2>\n\n\n\n

The BOS Grail bridge is a critical integration component that establishes a secure connection through BOS's ZK BitSNARK verification protocol.<\/p>\n\n\n\n

DeFi initiatives can benefit from the bridge of BTC transactions and assets onto Cardano's blockchain without compromising security or decentralization, thanks to ZK technology.<\/p>\n\n\n\n

The BOS integration on Cardano will enable access to Bitcoin's market capitalization, which is approximately $1.3 trillion at the time of writing.<\/p>\n\n\n\n

\"Chart
Chart depicting Bitcoin\u2019s market capitalization, currently around $1.3 trillion. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n\n\n\n

Cross-chain capabilities<\/strong><\/h3>\n\n\n\n

The collaboration is perceived by Emurgo, the founding entity responsible for Cardnao's Web3<\/a> adoption initiatives, as a step toward a more interconnected space, as indicated by a press release that was shared with Cointelegraph.<\/p>\n\n\n\n

The integration has the potential to unleash new cross-chain capabilities, according to Ken Kodama, the CEO of Emurgo, and could promote the adoption of DeFi<\/a>.<\/p>\n\n\n\n

Kodama stated that the layer one blockchain's “users, projects, and developers” could access a secure and trustless path to BTC by using BOS' bridge and ZK tech, which would “further strengthen Cardano.”<\/p>\n\n\n\n

The BitcoinOS Grail bridge<\/p>\n\n\n\n

BOS collaborated with Merlin Chain, a layer-2 (L2) scalability solution, on September 10 to implement the BitcoinOS Grail bridge and enhance cross-chain transactions without centralized trust mechanisms.<\/p>\n\n\n\n

In an interview with Cointelegraph, Merlin Chain founder Jeff Yin stated that the partnership would offer consumers a “trustless, decentralized” bridge for “Bitcoin-native assets.”<\/p>\n\n\n\n

ZK-proof-powered trustless bridging is established by the bridge directly inscribed onto the BTC blockchain<\/a>. This eliminates the necessity for centralized security measures, such as multisig or multiparty computation.<\/p>\n\n\n\n

As the collaboration advances toward a more “interoperable Bitcoin ecosystem,” Yin characterized the development as “just the beginning.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano employs BitcoinOS to incorporate Bitcoin liquidity into its DeFi ecosystem, utilizing zero-knowledge cryptography to ensure cross-chain functionality. New integration with BitcoinOS (BOS) , an innovative contract platform, is expected to give Cardano access to $1.3 trillion in Bitcoin liquidity for its decentralized finance (DeFi) ecosystem. The integration is intended to enable Cardano users to […]<\/p>\n","protected":false},"author":59,"featured_media":88564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[22496,20823,193],"class_list":["post-97512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-liquidity","tag-bitcoinos","tag-cardano"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Cardano-Reaches-Major-Network-Milestone-Hints-Hydra-Update.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=97512"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88564"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=97512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=97512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=97512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}