Say hello to the world of Bitcoin DeFi! Thanks to the Taproot upgrade, the Bitcoin network is now able to support the development of DApps. Find out which projects are leading the charge in our latest article.
Besides wBTC, Stacks and Rootstock, BadgerDAO, RenVM and Liquid Network promote various use cases of Bitcoin DeFi.called BadgerDAO makes it possible for BTC to be utilized as collateral across various DApps. The BadgerDAO uses the Ethereum-based token BADGER for protocol governance and incentive distribution.
The second product from Badger, called Digg, is software that controls the elastic-supply cryptocurrency called the DIGG token, pegged to the price of BTC in United States dollars. Like any other token, DIGG can be deposited into SETTs to provide a yield for its holders and used in DeFi protocols. The decentralized Ethereum protocol Ren creates tokens that monitor the value of non-Ethereum assets such as Bitcoin and offers liquidity to projects on several blockchains.
LBTC, a wrapped version of Bitcoin, serves as the native token on the Liquid sidechain. Users send BTC to a Lightning Network address on the Bitcoin network to use the Liquid Network. A similar quantity of LBTC is minted on the Liquid Network and delivered to the user’s address after the transaction has received 102 confirmations.
That said, if developers want to opt for the Bitcoin blockchain to develop DApps or mint NFTs, they need to rely upon layer-1 or layer-2 solutions, unlike the Ethereum blockchain. For instance, one can use Ethereum testnets, such as Ropsten, to build DApps. In contrast, Bitcoin DeFi platforms require bridges such as RenBrdige to connect to the Bitcoin Network for developing decentralized applications.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Recent Highs – Market Updates Bitcoin NewsBitcoin consolidated on Jan. 16, as U.S. markets closed in celebration of the Martin Luther King Jr. Day holiday celebration.
Weiterlesen »
DeFi Protocol Frontier Brings In-Browser Wallet Support for Aptos, Sui and 33 Additional BlockchainsDeFi protocol FrontierDotXYZ started an in-browser wallet extension that allows crypto users to interact with staking, transactional, and NFT activities over 35 supported blockchains. By shauryamalwa.
Weiterlesen »
DeFi Protocol Sushi Lays Out 2023 Plans With Focus on DEX and User ExperienceDeFi protocol SushiSwap's CEO jaredgrey laid out its 2023 roadmap with focus on user experience and DEX. by Aoyon_A
Weiterlesen »
DeFi, DAOs and NFTs: Crypto is redefining how charities raise fundsCrypto payments and decentralized applications are revolutionizing the charity industry in ways the traditional financial system is not capable of, according to two crypto charity observers.
Weiterlesen »
Combined Transactions on Arbitrum and Optimism L2 Chains Outpace Ethereum's Daily Transfer Count – Defi Bitcoin NewsOn Jan. 14, the combined transfer count for both L2 networks (Arbitrum & Optimism) was 1.3 million, compared to the 1.1 million transfers settled on Ethereum.
Weiterlesen »
Service aims to help clients, Black attorneys find each otherWhen it comes to finding a lawyer, would you know how to go about finding one? One service tapped into a need in the Black community and it is benefitting both clients and their attorneys.
Weiterlesen »