BitAcross has rolled out a testnet for its Bitcoin cross-chain bridge, allowing for interaction with BRC-20 tokens.
In Brief
The introduction of the Bitcoin cross-chain bridge on BitAcross's testnet brings support for BRC-20 digital assets, with plans underway to also include ARC-20 tokens, Bitcoin itself, runes, and additional features.
The cross-chain interoperability protocol BitAcross has now introduced its Bitcoin cross-chain bridge in the testnet format, initially supporting BRC-20 assets that comprise tokens like ORDI, RATS, and SATS. Plans are in place to incorporate ARC-20 standard tokens and various Bitcoin-related assets in the future.
BitAcross aims to address the challenge of inadequate liquidity surrounding emerging assets, such as BRC-20 tokens. By establishing a bridge between Bitcoin and several other networks, it ensures smoother asset transactions while keeping transaction costs to a minimum.
It incorporates zero-knowledge proofs Utilizing zero-knowledge proofs (ZKPs) and trusted execution environments (TEEs), this protocol streamlines cross-chain transactions, overcoming some limitations inherent in current blockchain interoperability solutions.
The BitAcross framework accommodates Ethereum Virtual Machine (EVM) smart contracts, serving as a reliable validation layer where consensus among participants is achieved. This guarantees security, data availability, and public transparency for the entire protocol, making it integral to its operability and safety.
Moreover, the protocol showcases its adaptability by facilitating the formation of token bridges across various blockchain platforms, like Ethereum and Binance Smart Chain. Besides enabling asset transfers, it lays the groundwork for developing innovative Layer 2 networks and decentralized oracles on the Bitcoin network. Bitcoin 💡 In a noteworthy advancement, Litentry has successfully incubated
Litentry functions as a decentralized, cross-chain identity aggregator that empowers users to manage their identities while maintaining privacy. Its aim is to give users complete control over their personal data, enabling them to extract both social and economic benefits. The protocol's applications extend into on-chain reputation management, governance, decentralized finance (DeFi), and tailored data services.
BitAcross was developed on Bitlayer Based on the roadmap put forth by Litentry, BitAcross was integrated into its parachain during the second quarter. Litentry Please keep in mind that the information available on this page is not meant for, and should not be understood as, legal, tax, investment, financial, or any other advice. It's crucial only to invest what you can afford to lose and to seek independent financial counsel if needed. For further guidance, we recommend reviewing the terms and conditions, along with the help and support resources offered by the issuer or advertiser. MetaversePost pledges to provide accurate and impartial news coverage, yet market conditions may fluctuate without prior notice.
Alisa, a committed journalist at Cryptocurrencylistings, concentrates on cryptocurrency, zero-knowledge proofs, investments, and the expansive world of Web3. With a sharp eye for emerging trends and technologies, she provides in-depth coverage that educates and captivates audiences in the fast-moving digital finance arena.
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