Bitcoin

Cardano

With the appearance of Cardano Bitcoin (cBTC), decentralized finance (DeFi) could see major changes by integrating bitcoin with the Cardano blockchain in a decentralized and secure manner. This ambitious project raises questions about its potential and the challenges of taking advantage of the liquidity offered by the market’s leading cryptocurrency.<h2 id="header-0">The bold gamble of wrapped tokens</h2>The concept of wrapped tokens is not new, as evidenced by the existence of wrapped BTC (wBTC) on <a href="https://www.cointribune.com/ethereum-entre-mises-a-jour-strategiques-et-defis-a-relever/" rel="noopener noreferrer nofollow">Ethereum</a> since 2019. These tokens allow a cryptocurrency from one blockchain to be used on another by “wrapping” it.Wrapped BTC ensures a 1:1 ratio between wBTC and BTC. However, this approach has been criticized for its reliance on third parties to manage the tokens. Indeed, this goes against the philosophy of <a href="https://www.cointribune.com/guides-crypto/guide-de-la-defi/" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a>.Faced with this observation, the Cardano Bitcoin (cBTC) project enters the scene with the ambition to transform the world of wrapped tokens. By eliminating the need for an intermediary through <a href="https://www.cointribune.com/quest-ce-quun-contrat-intelligent-ou-smart-contrat/" rel="noopener noreferrer nofollow">smart contracts</a> and a secure vault, it promises a more decentralized and seamless integration of bitcoin into the Cardano ecosystem.<h2 id="header-1">cBTC’s promising first steps and upcoming challenges</h2>In fact, early tests of cBTC have been successful. <a href="https://twitter.com/IOHK_Charles/status/1647316313985937408" rel="noopener noreferrer nofollow">Charles Hoskinson</a>, Cardano’s founder, welcomed the innovation.Through this project, users will be able to access bitcoin’s liquidity and benefit from its massive adoption. With bitcoin’s market capitalization approaching $570 billion, the potential for the Cardano ecosystem is significant.<a href="https://www.cointribune.com/en/cardano-bitcoin-cbtc-a-revolution-in-defi-ecosystem/" rel="noopener noreferrer nofollow">Read more</a>

Cardano Bitcoin (cBTC): A Revolution in DeFi Ecosystem

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