Cardano Network Integrates Into Bitcoin, What This Means?
Highlights
- Cardano has been integrated into the BitcoinOS Grail bridge.
- The network will help enhance liquidity as assets are bridged from the Bitcoin network to rollups under the network.
- ADA analyst Dan Gambardello indicated this is huge for the Cardano ecosystem, especially for the ADA price.
The Cardano network has joined the Bitcoin ecosystem following the “groundbreaking” integration of the former as a BitcoinOS Grail bridge. This move is significant as it will help scale the largest blockchain by market cap and unleash “decentralized programmability” on the network.
Cardano Network Integrates Into Bitcoin
In an X post, BitcoinOS (BOS) announced Cardano’s integration into the BOS Grail bridge. This makes Cardano the first top layer-1 blockchain to be part of the BOS infrastructure, opening up the network’s ecosystem to the immense liquidity on the Bitcoin network.
The Bitcoin network is known for lacking cutting-edge technology for decentralized finance (DeFi) activities, so others, like the Cardano network, continue to witness the most activity despite most of the volume being on Bitcoin.
However, BOS noted that this move will help bridge the gap between Bitcoin and the rest of crypto and create a “digital ecosystem of value that is greater than the sum of its parts.”As mentioned in the announcement, EMURGO, the founding entity of the Cardano network, has partnered with BOS to enhance liquidity through the Grail Bridge. This will enable trustless bridging of BTC and other Bitcoin assets.
The Grail Bridge uses zero-knowledge cryptography to enable users to move their assets securely between the Bitcoin network and rollups on the network, which essentially serves as layer-2 networks.
Cardano Founder Charles Hoskinson commented on the move in an X post, saying, “Welcome home, Bitcoin.” This comes just days after the Cardano Founder said his network will flip Bitcoin and Ethereum twenty years from now.
The Significance Of This Move For The ADA Price
In an X post, ADA analyst Dan Gambardello commented on the significance of this move for the ADA price. He suggested that the timing of this announcement is “so good” for the crypto, especially considering that ADA’s price boom isn’t even due yet.
Gambardello also remarked that he doesn’t think people understand how big the Cardano network’s integration into Bitcoin is. He added that Cardano just skipped the line to become the “most technically important chain besides Bitcoin.”
The ADA price has yet to react positively to the Cardano network’s integration into Bitcoin. At the time of writing, ADA is trading at around $0.34, down over 1% in the last 24 hours. However, trading volume is up almost 3%, with $289 million traded during this period.
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