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There have been talks of expansion within the Cardano blockchain for several months. In line with the community’s expectations, EMURGO, the commercial arm of Input Output Global, has partnered with BitcoinOS to launch a bridge for the layer-1 network.
Bridge Cardano and Bitcoin
As uncovered on X, the Cardano and Bitcoin blockchains will now connect via the BitcoinOS Grail Bridge. As revealed, this move positions Cardano as the first to fuel connections with the BOS infrastructure to advance the potential of Bitcoin.
Gamza KhanzadaevDespite gaining recognition as the first blockchain protocol, Bitcoin has some limitations. One major one is the limited smart contract function, which has mildly negated its strong security outlook. As such, innovations have emerged to drive the coin’s capabilities, using smart contract resources from other platforms.
This BitcoinOS Grail to Cardano Bridge will drive liquidity flow across both chains, giving users the best of proof-of-work (PoW) and proof-of-stake (PoS) offerings. Notably, the BitcoinOS protocol hinted that with the new linkup, users could benefit from the zero-knowledge cryptography powering the Grail Bridge.
By introducing the element of privacy and security, users using the Grail Bridge have no major tradeoffs from the protocols they currently operate on.
Impact on Cardano's price
Cardano is a versatile protocol with a visible push toward mass adoption. An earlier peer-reviewed study teased hints about a possible BTC-ADA staking model through the Babylon protocol.
Godfrey BenjaminWhen most of the innovations Cardano is pushing for become materialized, they can fuel adoption and higher demand for ADA. This can have an enormous impact on the price of the coin in the long term, as more buy-ups from users looking to connect to BTC can drive valuation.
As of writing time, the price of Cardano is pegged at $0.3427, down by 3.21% in 24 hours. The losses on record are steeper than this. However, the coin is in recovery mode and might chart a positive growth course following the BitcoinOS update.
Tomiwabold Olajide
Arman Shirinyan
Vladislav Sopov
Dan Burgin