Cross-chain interoperability protocol BitAcross announced the launch of its Bitcoin cross-chain bridge on the testnet. This bridge currently supports BRC-20 assets, including ORDI, RATS, and SATS tokens, with future plans to integrate ARC-20 standard tokens, Bitcoin, Bitcoin Runes tokens, and other Bitcoin assets.
BitAcross’s goal is to tackle the issue of limited liquidity for emerging assets like BRC-20 tokens. By creating a bridge between Bitcoin and other different networks, it facilitates the seamless asset transfer and minimizes transaction fees.
It incorporates zero-knowledge proofs (ZKPs) and trusted execution environments (TEEs) to enable efficient cross-chain transactions, addressing the limitations of existing blockchain interoperability methods.
The BitAcross network supports Ethereum Virtual Machine (EVM) smart contracts, functioning as a validated service layer where consensus is reached. It ensures security, data availability, and public auditability for the protocol. The network is essential to the protocol’s functionality and security.
Furthermore, its protocol demonstrates its versatility by enabling the creation of token bridges between Bitcoin and diverse blockchains, such as Ethereum and Binance Smart Chain. In addition to enabling asset transfers, it also provides a basis for building advanced Layer 2 networks and trustless Oracles on Bitcoin.
In a significant development, Litentry has successfully incubated @BitAcross.⁰
This move signifies Litentry's strategic commitment to the continued growth of the #Bitcoin ecosystem.⁰
Try BitAcross’s testnet Here
https://t.co/kztODwtfEe⁰#Bitcoin #Litentry #BitAcross https://t.co/ajIB8nG1EH
— Litentry (@litentry) July 1, 2024
Litentry Supports BitAcross And Integrates It Into Its Parachain
BitAcross was developed on Bitlayer, a Layer 2 scaling solution for Bitcoin, and was incubated by Litentry. Litentry states that this latest testnet launch reflects its strategic commitment to the ongoing growth of the Bitcoin ecosystem.
Litentry is a decentralized, cross-chain identity aggregator that allows users to link their identities while preserving privacy. It aims to provide users with full control over their personal data, enabling them to derive social and economic value from it. The protocol can be utilized in on-chain reputation, governance, decentralized finance (DeFi), and customized data services.
According to the Litentry roadmap, BitAcross was integrated into its parachain in Q2.
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