EMURGO, a founding entity of Cardano, will be among ecosystem buildings developing tools and services to attract the BTC capital.
Bitcoin capital will now be able to flow into the Cardano ecosystem following the launch of Bitcoin rollup protocol BitcoinOS's Grail bridge for the Cardano network on Thursday.
The launch opens up possibilities for capital to move from Bitcoin into Cardano, and vice-versa, with a founding entity of Cardano, EMURGO, among those set to be involved in developing tools and services to attract the BTC capital.
BitcoinOS said it became the first to have verified ZK proofs on Bitcoin in April, and its Grail bridge uses that security infrastructure to allow assets to flow between blockchains.
“These bridges only require a single honest participant within a pool of potentially hundreds of operators (1-of-n) in a decentralized, dynamic, and permissionless operator set for your funds to remain secure,” BitcoinOS said in its release.
Bridges are blockchain-based tools that allow for the transfer of assets between different networks where they aren’t originally supported. Zero-Knowledge Proof (ZKP) is a cryptographic protocol allowing one party to prove if a statement is true without revealing additional information.
Bridges are among the most attacked and vulnerable crypto tools despite their large importance in the ecosystem. A ZKP-based bridge, in theory, cuts down on those security fears.
At press time, ADA was exchanging hands at 34 cents, down 2.5% in the past 24 hours alongside a wider market drop.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
