2 weeks ago
Cardano has continued to beforehand its credentials arsenic a venue for Bitcoin Defi (BTCFi), facilitating a transportation of Ordinals to its mainnet.
The on-chain transaction betwixt Bitcoin and Cardano was facilitated by BitVMX, an interoperability protocol built utilizing the BitVM programming language.
The transaction was unveiled by Input | Output (IO), the creator of the furniture 1 Cardano, astatine the Bitcoin 2025 league successful Las Vegas connected Tuesday.
The span represents a "preview of what is to come," IO said successful an emailed announcement. Its eventual purpose is simply a afloat integration betwixt Bitcoin and Cardano, providing DeFi services for BTC users and unlocking immense amounts of liquidity from the worth stored successful bitcoin.
To this end, IO has developed the "Cardinal" protocol, a portmanteau of Cardano and Ordinals, which harnesses BitVMX to delegate Bitcoin-native assets to addresses connected Cardano.
The Ordinals protocol was introduced astatine the commencement of 2023, enabling the inscription of information onto idiosyncratic satoshis (the smallest BTC denomination, equivalent to 1 100 millionth of a bitcoin), this making them unsocial and traceable. In effect, this created a Bitcoin equivalent of non-fungible tokens (NFTs).
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