1 year ago
Bitcoin-focused blockchain Elastos is partnering with the decentralized carnal infrastructure networks (DePIN) web IoTeX connected integer individuality validation. However, the collaboration besides aims to bring Bitcoin’s robustness and spot to the forefront of DePIN, marking a important leap toward integrating integer and carnal assets utilizing Bitcoin.
The concern represents an effort to leverage Bitcoin’s Layer-2 capabilities, specifically done Elastos’ approach, to heighten the functionality and accessibility of real-world assets (RWA) similar buildings, equipment, and different capital-intensive assets. By integrating these assets with blockchain exertion and IoT (Internet of Things), the collaboration aims to make a seamless, secure, and businesslike ecosystem for managing and monetizing carnal infrastructure.
At the bosom of this concern is the nonstop integration with ‘Layer 2’ Bitcoin, a determination that Raullen Chai, IoTeX’s co-founder and CEO, describes arsenic an “important milestone.” He commented,
“Extending our offering to the Elastos Smart Chain (ESC) offers immoderate compelling advantages, including nonstop integration with ‘Layer 2’ Bitcoin, meaning that agreements tin beryllium embedded and reconciled nonstop successful the World’s astir fashionable and trusted integer currency. This is an indispensable capableness arsenic DePINs go much mainstream.”
This integration allows for agreements to beryllium embedded and reconciled straight successful Bitcoin. This capableness whitethorn beryllium important arsenic DePINs go much mainstream, offering a unafraid and transparent mechanics for managing agreements and transactions wrong the carnal infrastructure space.
This integration is facilitated by Elastos’ BeL2’s BTC Oracle, which enables unafraid and businesslike connection betwixt Bitcoin and EVM blockchains done zero-knowledge proofs (ZKPs), laying the groundwork for analyzable decentralized applications straight connected Bitcoin Layer 2.
IoTeX’s modular infrastructure level connects astute devices and real-world information to blockchains, portion its middleware solution, W3bstream, brings real-world information on-chain. This capableness is captious for seamlessly integrating IoT devices with blockchain technology, ensuring integrity, and optimizing velocity and scalability.
Jonathan Hargreaves, Elastos’ Global Head of Business Development & ESG, encapsulates the essence of this concern arsenic Web3’s “next frontier.” By reducing intermediaries and expanding transparency and privateness successful the carnal domain, Elastos and IoTeX are bridging the spread betwixt the integer and carnal worlds, powered by the security and spot of Bitcoin.
The station Bringing Bitcoin to existent satellite infrastructure done caller Layer-2 DePIN partnership appeared archetypal connected CryptoSlate.
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