Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cardano attained a key milestone this week with the mainnet launch of anetaBTC. The anetaBTC protocol, which brings on-chain wrapped BTC to blockchains, saw its deployment on the Cardano mainnet on Aug. 8, marking a big step forward in blockchain interoperability.
This long-awaited event brings Bitcoin to the Cardano ecosystem, allowing users to effortlessly interact with both coins.
New BTC successfully minted on Cardano.
— anetaBTC 👼 Mainnet Live (@anetaBTC) August 12, 2023
🔄 Minted: 1.706 cBTC
👼 Total: 6.19 cBTC
Mint here ⛅️👇https://t.co/j6vHNUKIlL pic.twitter.com/FZ5LFgqd8o
The integration of wrapped Bitcoin with the Cardano ecosystem is noteworthy as a purposeful endeavor to draw a wider audience and total value locked (TVL) from Bitcoin, which now has the highest market capitalization of $572 billion. Bitcoin wrapped through the anetaBTC protocol is known as cBTC.
Tomiwabold OlajideNow, in another milestone alluding to the successful launch of the anetaBTC protocol, Bitcoin has been successfully minted on the Cardano mainnet.
In a new tweet, anetaBTC shared a screenshot showing new BTC successfully minted on Cardano. This amount was 1.706 cBTC. Per the tweet, 6.19 cBTC have been minted on the Cardano mainnet in total.
AnetaBTC promises future protocol upgrades in what's coming following its launch. AnetaBTC V2 with multisig is nearing its release, but there is still more work to be done, even though the current contracts support V2.
Notable week for Cardano
Cardano saw notable developments during the week. As stated in IOG's most recent weekly report, node v.8.2.1-pre was tagged and prereleased for use on SanchoNet, a new development network created to introduce the Cardano community to governance features from CIP-1694 and to build and test together in a controlled environment.
Also in the week, the Lace team released Lace v.1.4 with new features, "ADA Handle" support enhancements and bug fixes. On Aug. 10, the Project Catalyst Level 2 community review also began.
Yuri Molchan
Denys Serhiichuk
Dan Burgin
Alex Dovbnya
Vladislav Sopov