Main navigation

Cardano Kicks Off 'Big Week' as Testnet for Wrapped BTC Goes Live: Details

Mon, 01/30/2023 - 13:43
article image
Tomiwabold Olajide
Cardano aligning with expectations this week
Cardano Kicks Off 'Big Week' as Testnet for Wrapped BTC Goes Live: Details
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

AnetaBTC, a project aiming to deliver on-chain wrapped BTC on Cardano and Ergo, has launched its public testnet.

The anetaBTC v1 testnet has launched on Ergo but remains a Bitcoin testnet. The announcement is significant because, according to the AnetaBTC roadmap, Cardano development will begin following the launch of Ergo's testnet.

According to AnetaBTC, it plans to use the knowledge gained through developing its wrapping architecture on Ergo to move forward with Cardano. It hopes that by doing this, it will be able to refine its infrastructure and processes, making the development of Cardano more efficient.

It intends to make use of this information as it develops. As soon as the Ergo's testnet launched, a group of Cardano developers would start working, according to AnetaBTC.

It thinks that a smooth development schedule for the wrapping protocol on Cardano should result from the successful deployment of its wrapping protocol on Ergo's testnet.

AnetaBTC says it anticipates that the Cardano testnet will be ready in three months.

Big week for Cardano

As reported earlier, Cardano founder Charles Hoskinson shared his excitement regarding the innovations that might soon be available on Cardano.

"It's exciting to see things moving so quickly in the Cardano ecosystem. Sidechains are coming along including Cosmos, djed is launching soon, Hydra and Mithril on schedule, Lace almost out of beta, tons of DApps coming online," Hoskinson tweeted.

This week is expected to be a big one for Cardano as its overcollateralized stablecoin, Djed, developed in collaboration with the COTI network, is expected to launch.

Cardano Founder: Things Moving Quickly, Tons of DApps Coming Online

Liqwid Labs, an on-chain noncustodial interest rate protocol that serves as a decentralized marketplace for borrowers and lenders, is also scheduled to have its mainnet launch this week.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.