Cardano

Bitcoin

David

AnetaBTC

<div class="watcher-guru"> 
 <p>According to an announcement by anetaBTC, Bitcoin liquidity will now be available on the Cardano (ADA) ecosystem through wrapped BTC (cBTC). This move to integrate cBTC into Cardano is similar to Ethereum’s approach with wrapped Bitcoin (wBTC). BTC is tokenized on the other blockchain to enable its use in decentralized finance (DeFi) applications.</p> 
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    <p lang="en" dir="ltr">Thanks to our community for being with us every step of the way. <br><br>BTC is now available to help bolster Cardano DeFi.<br><br>The work has just begun, next steps will be announced soon.</p>— anetaBTC 👼 Mainnet Incoming (@anetaBTC) August 9, 2023 
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 <p>This marks a significant development for <a rel="noopener noreferrer nofollow" title="Cardano" href="https://thebittimes.com/tag/cardano.html">Cardano</a> (<a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a>), as it opens up new possibilities for users to utilize Bitcoin-backed assets. Additionally, the infusion of cBTC could potentially enhance the DeFi ecosystem on the <a rel="noopener noreferrer nofollow" title="Cardano" href="https://thebittimes.com/tag/cardano.html">Cardano</a> (<a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a>) network. It can give users the ability to access and use Bitcoin assets without having to leave the <a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> blockchain.</p> 
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 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Cardano" href="https://thebittimes.com/tag/cardano.html">Cardano</a> Shows Remarkable Growth in Q2: Report</strong></p> 
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 <p>AnetaBTC follows a multipart, three-phase structure. Phase one has anetaBTC governing and a secure vault for BTC deposits. Then comes the off-chain code that verifies deposits and the checking of met<a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a>ta with user addresses. Later phases prioritize decentralization, adding security and strength to the framework.</p> 
 <p>This move aligns with the trend of cross-chain interoperability and collaboration within the blockchain and cryptocurrency industries. Moreover, integrating wrapped Bitcoin assets onto other blockchains can contribute to increased adoption and growth for both the host blockchain (in this case, Cardano) and the underlying BTC network.</p> 
 <h3 class="wp-block-heading" id="h-will-cardano-s-price-react-to-the-bitcoin-integration">Will Cardano’s price react to the Bitcoin integration?</h3> 
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  <img decoding="async" width="1024" height="614" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Cardano (ADA) Poised for a Game-Changing Move: Insights from Crypto Capital Venture Founder" class="wp-image-92157 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 1024w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 300w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 768w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 380w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 550w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 800w" data-eio="j"> 
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   <img decoding="async" width="1024" height="614" src="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp" alt="Cardano (ADA) Poised for a Game-Changing Move: Insights from Crypto Capital Venture Founder" class="wp-image-92157" srcset="https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 1024w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 300w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 768w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 380w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 550w, https://cdn.thebittimes.com/images/2023/08/09/b32654ce41ac5a5414974bfac032bcd5.webp 800w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: CoinDCX 
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 <p><a rel="noopener noreferrer nofollow" title="Cardano" href="https://thebittimes.com/tag/cardano.html">Cardano</a> (<a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a>) and Bitcoin (BTC) are both rallying at press time. BTC is up by 1.6% in the last 24 hours, while <a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> is up by 2% in the same timeframe. However, the rally could be due to the larger market gaining momentum rather than the BTC integration on <a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a>. The overall global crypto market cap is up by 1.8%, currently standing at $1.23 trillion.</p> 
 <p><strong>Also Read: Bitcoin Isn’t Going Away Soon: David Rubenstein</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>ADA</li> 
  <li>bitcoin</li> 
  <li>btc</li> 
  <li>Cardano</li> 
 </ul> 
</div>

Cardano Welcomes Bitcoin Liquidity on Mainnet via cBTC

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