One of the highlights of this week on the Cardano (ADA) community is the integration of the flexibility to wrap Bitcoin (BTC) on the mainnet. The deployment of cBTC on the Cardano mainnet was launched by anetaBTC, a protocol identified to carry on-chain wrapped Bitcoin to blockchains.
This vital step which brings BTC to the Cardano community is essential to the advance of blockchain interoperability.
Cardano Wrapped Bitcoin Benefits
With this current deployment, customers can effortlessly work together with each tokens on a single community.
While the event facilitates interoperability of blockchains, additionally it is a strategic method of attracting a wider viewers in addition to Total Value Locked (TVL) on Bitcoin which is understood to have the very best market capitalization in your entire crypto business.
Currently, the market cap of BTC is roughly $572 billion, about half of the overall crypto market cap.
Alongside the launch and deployment of the anetaBTC protocol, Cardano has accomplished the mint of BTC on its mainnet. Precisely, anetaBTC shared a screenshot exhibiting that 1.706 cBTC has been minted efficiently.
New BTC efficiently minted on Cardano.
🔄 Minted: 1.706 cBTC
👼 Total: 6.19 cBTCMint right here ⛅️👇https://t.co/j6vHNUKIlL pic.twitter.com/FZ5LFgqd8o
— anetaBTC 👼 Mainnet Live (@anetaBTC) August 12, 2023
Moreso, the on-chain protocol famous {that a} complete of 6.19 cBTC has been minted on the Cardano community thus far.
More Bullish Cardano Updates
More upgrades are anticipated sooner or later as regards the anetaBTC protocol. Already, anetaBTC model 2 is within the works and its launch is predicted within the close to future.
Other highlights of this week embrace the 73.2 million transactions recorded on the Cardano blockchain. Also, the overall variety of insurance policies reported was over 78,000, and about 137 initiatives have been launched on the ADA blockchain. Another milestone is the pre-release of node v.8.2.1-pre to be used on SanchoNet.
SanchoNet is a brand new improvement community designed to reveal the Cardano ecosystem to governance options from CIP-1694 and to construct and take a look at collectively in a managed setting.
Lace v.1.4 was additionally launched by the Lace crew with newly built-in options like “ADA Handle” help enhancement and bug fixes. Input Output Global (IOG), the startup behind Cardano shared an replace in regards to the plan to expand Mithril answer to Africa.
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