EMURGO and BitcoinOS Join Forces to Bring BTC Functionality to Cardano's DeFi Ecosystem

EMURGO – the blockchain project advancing Web3 adoption on the Cardano blockchain – announced a strategic collaboration with BitcoinOS (BOS), a smart contract operating system built for Bitcoin.

EMURGO, the commercial arm of Cardano, has announced a collaboration with BitcoinOS (BOS) to integrate the latter's smart contract operating system with Cardano's Layer-1 blockchain.

This integration will enable secure and trustless transfer of Bitcoin (BTC) and related assets into Cardano’s DeFi ecosystem.

The collaboration will see the incorporation of BOS Grail bridge into Cardano's open-source blockchain framework. This will allow DeFi dApps, such as Fluid Tokens, to integrate trustless BTC functionality for their users, using BOS's BitSNARK verification protocol and ZK technology to facilitate the cross-chain transfer of BTC.

EMURGO founder and CEO Ken Kodama highlighted the potential of this collaboration to enhance Cardano's capabilities and provide its users with seamless access to the Bitcoin ecosystem.

“This collaboration with BitcoinOS has the potential to unlock new cross-chain capabilities and further strengthen Cardano by granting Cardano users, projects, and developers secure, trustless access to the Bitcoin ecosystem.”

This integration marks a significant step in expanding the interoperability and accessibility of Cardano's DeFi ecosystem, aiming to optimize capital efficiency and user experience in decentralized finance.

Meanwhile, ADA's price performance has been lackluster, with the crypto asset showing a decline of over 11% in the past 30 days, currently trading below $0.35. This underwhelming price action comes despite signs of a bullish reversal, as observed by CryptoPotato's analysis team.

The above is the detailed content of EMURGO and BitcoinOS Join Forces to Bring BTC Functionality to Cardano's DeFi Ecosystem. For more information, please follow other related articles on the PHP Chinese website!