CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Bridging native Bitcoin to Avalanche

Published on:

The Avalanche Bridge now works to connect, Bridging native Bitcoin to Avalanche.

Bridging native Bitcoin to Avalanche, this new Bitcoin bridging functionality aims to unlock over half a trillion dollars of value on the Bitcoin network for use within the Avalanche DeFi ecosystem, and further expand the set of offerings available on Avalanche. This enables Bitcoin holders to directly access extensive earning and yield opportunities on top DeFi protocols, while still maintaining BTC on their portfolio.

With this new BTC Bridge, there’s a new Intel SGX (Software Guard Extension) software to facilitate cross-chain Bitcoin transactions, boosting their Warden set from 4 to 8 and the approval structure to 6 of 8. (from 3 of 4). Details of the Wardens’ responsibilities can be found here.

Users can download the Core Browser Extension to access BTC bridging. Note that BTC bridging is ONLY currently available through the Core Browser Extension. Metamask or other wallets don’t support Avalanche Bridge and BTC bridge. . See here for more details on how to bridge BTC.

About Ava Labs

Ava Labs makes it simple to launch decentralized applications on Avalanche, the fastest smart contracts platform in the blockchain industry. They are empowering people to easily and freely digitize all the world’s assets on one open, programmable blockchain platform.

Website | Twitter

About Avalanche

Avalanche is a decentralized, open-source proof of stake blockchain with smart contract functionality. AVAX is the native cryptocurrency of the platform.

Website | Twitter

SOURCE

https://medium.com/avalancheavax/avalanche-bridge-adds-native-bitcoin-support-6306236fb506

Related

Market Stats:
BTC Dominance: 42.46%(-0.02%/24h)
ETH Dominance: 15.63%(+0.12%/24h)
Defi Market Cap: $38.24B(-14.02%/24h)
Total Market Cap: $964.57B(+0.81%/24h)
Total Trading Volume 24h: $51.83B(-22.22%/24h)
ETH Market Cap: $150.89B
Defi to ETH Ratio: 25.35%
Defi Dominance: 3.79%
Altcoin Market Cap: $555.04B
Altcoin Volume 24h: $32.98B
Total Cryptocurrencies: 20002
Active Cryptocurrencies: 9941
Active Market Pairs: 58853
Active Exchanges: 523
Total Exchanges: 1683