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Cryptocurrency News Articles
Bitcoin-Cardano Bridge Debuts, Connecting Layer-1 Networks via BitcoinOS Grail
Oct 26, 2024 at 01:43 am
Cardano, one of the most dominant blockchains, is slowly gaining ground with its rivals as it is set to gain access to $1.3 trillion in Bitcoin liquidity
Cardano is set to gain access to $1.3 trillion in Bitcoin liquidity through a new integration of BitcoinOS (BOS).
BOS is a smart contract operating system for Bitcoin, and this partnership will mark the first time a layer-1 blockchain is part of the BOS infrastructure.
This move will bring scalability to Bitcoin, enabling it to support decentralized applications (dApps), Decentralized Autonomous Organizations (DAOs), and Decentralized Finances (DeFi).
BOS achieved a significant milestone earlier this year by verifying the first zero-knowledge (ZK) proof on the Bitcoin mainnet, enabling Bitcoin to support dApps.
BOS has also accelerated Bitcoin scaling through Layer 2s using the guarantees of zero-knowledge cryptography.
Through the Grail Bridge, ZK cryptography will allow Bitcoin to function more like an operating system, enabling it to support decentralized services.
This will enable the seamless integration of Bitcoin assets into Cardano through verified transactions that do not involve third parties.
By integrating BOS on Cardano, the eleventh largest crypto asset by market capitalization, Bitcoin’s market capitalization will be made accessible.
This opens up the path of endless possibilities like yield farming and access to secure lending protocols.
The BitcoinOS Grail to Cardano Bridge will drive liquidity across both chains, affording the user with the best proof-of-work and proof-of-stake offerings.
In a discussion with the Cardano community, founder Charles Hoskinson commented in an X post, saying that BitcoinOs is going to let Bitcoin flow into the crypto world and enjoy the sweet fruits of DeFi, GameFi, and the magic of smart contracts.
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