Cardano-Bitcoin bridge may be first step to true Bitcoin DeFi
The new bridge lets users withdraw Bitcoin even if most Cardano nodes become malicious.
The upcoming Cardano-Bitcoin bridge, based on the Grail protocol, may be a first step toward providing decentralized finance (DeFi) applications that are secured by Bitcoin, documents from the bridge’s underlying protocol reveal.
On Oct. 24, Emurgo, the development team backing Cardano, announced that it was developing the bridge in partnership with Grail’s developer, BTCOS.
In an X post on the following day, Cardano founder Charles Hoskinson clarified that the network will eventually host DeFi applications secured by Bitcoin, adding that, “With babel fees, Bitcoin developers can develop Hybrid Cardano/Bitcoin applications in Aiken and pay their transaction fees in bitcoin.”
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Author: Christopher Roark
