The New Bitcoin-Cardano Bridge
U.Today reports that after months of speculation about blockchain expansion, EMURGO, the commercial arm of Input Output Global, has successfully partnered with BitcoinOS to create a bridge for the layer-1 network.
Connecting Cardano and Bitcoin
As announced on X, the Cardano and Bitcoin blockchains are now linked through the BitcoinOS Grail Bridge. This strategic move positions Cardano as the first to enhance connections with the BOS infrastructure, aiming to elevate Bitcoin's potential.
Despite Bitcoin's recognition as the first blockchain protocol, it has some limitations, particularly in its smart contract functionality, which somewhat undermines its robust security profile. To counter this, innovations are being developed to enhance Bitcoin's capabilities by leveraging smart contract resources from other platforms.
The Grail Bridge will facilitate liquidity flow between both chains, allowing users to enjoy the best of proof-of-work (PoW) and proof-of-stake (PoS) systems. BitcoinOS has indicated that this new connection will enable users to take advantage of the zero-knowledge cryptography that powers the Grail Bridge.
Implications for Cardano's Price
Cardano is a versatile protocol actively pushing for mass adoption. A peer-reviewed study hinted at a possible BTC-ADA staking model through the Babylon protocol. As Cardano's innovations materialize, they could significantly boost adoption and demand for ADA, impacting its price positively in the long run. Increased purchases from users seeking connections to Bitcoin could drive its valuation higher.
Currently, the price of Cardano is at $0.3427, reflecting a 3.21% decrease over the past 24 hours. Despite these losses, the coin is in recovery mode and may see positive growth following the BitcoinOS update.
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