Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration

10/25/2024 17:53
Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration

Cardano makes history with first-ever BitcoinOS Grail Bridge integration to tap into Bitcoin $1.3 trillion liquidity.

Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration 1 min ago · 2 min read

Cardano's founder Charles Hoskinson said the integration means Bitcoin now has a smart contract layer.

2 min read

Updated: Oct. 25, 2024 at 11:54 am UTC

Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration

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Cardano has integrated with the Bitcoin ecosystem through BitcoinOS’s Grail Bridge, unlocking the top digital asset’s substantial liquidity for its DeFi ecosystem.

On Oct. 24, BitcoinOS explained that the move would expand Bitcoin’s reach and enable decentralized programmability on its network.

The integration makes Cardano the first Layer 1 blockchain to use BitcoinOS infrastructure, tapping into Bitcoin’s vast $1.3 trillion liquidity pool. BitcoinOS has already announced integrations with several other Bitcoin Layer-2 chains, including Merlin and Sovyrn.

The partnership aims to address a critical gap in the Bitcoin network by introducing the needed infrastructure for DeFi activities.

Although Bitcoin leads in value, most crypto activities occur outside its ecosystem. With this in mind, BitcoinOS has designed the integration to bridge Bitcoin with the rest of the crypto world, fostering a unified digital landscape that maximizes value.

Grail Bridge

BitcoinOS explained that its Grail Bridge uses zero-knowledge cryptography to let Bitcoin users move their assets securely.

The partnership empowers Cardano to leverage the Grail Bridge to boost liquidity, facilitating trustless transfers of BTC and other Bitcoin-based assets.

Cardano’s founder, Charles Hoskinson, stated that BitcoinOS operates not as a simple bridge but as a “brain” guiding Bitcoin’s integration into the broader crypto ecosystem.

He added:

[BitcoinOS] is going to let Bitcoin flow into the crypto world, and they finally get to ditch their boring lives and enjoy DeFi, GameFi, and the magic of Smart Contracts.”

Hoskinson also highlighted an additional benefit of the integration, noting that it allows users to pay fees directly in Bitcoin, creating mutual advantages for users. He stated:

“Whether your bitcoin stay at home or go visit other chains, it doesn’t impact the bitcoin network. With BOS, they can now go interact with other ledgers. Only with cardano can you do it natively with UTXO and soon pay your transaction fees in Bitcoin. This means bitcoin now has a smart contract layer.”

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