Logo
Cardano Ecosystem

FxCryptoNews

09/23/2024

·

23 views


Charles Hoskinson Surprised by Bitcoin-Cardano Bridge Development

Charles Hoskinson, the founder of Cardano, expressed surprise after a Bitcoin developer, known as elraulito, introduced a seamless bridge connecting Bitcoin and Cardano apps. The developer announced this...

Charles Hoskinson Surprised by Bitcoin-Cardano Bridge Development

Charles Hoskinson, the founder of Cardano, expressed surprise after a Bitcoin developer, known as elraulito, introduced a seamless bridge connecting Bitcoin and Cardano apps. The developer announced this breakthrough in blockchain interoperability, revealing that Bitcoin wallets can now interact directly with Cardano’s ecosystem.

Bitcoin Wallets Interacting with Cardano Ecosystem

The newly developed smart contract, built on Plutus V3, enables Bitcoin users to send ADA, manage tokens, and stake in Cardano pools. Importantly, this functionality does not require users to set up a new wallet, offering a smooth user experience.

The developer explained how the smart contract was designed using various tools and protocols. One of the key tools is aiken, a smart contract language for Cardano, along with CIP69, which enhances address programmability. 

Related article: Cardano Founder Resists ADA Burn Proposal, Citing Stakeholder Interests

A multivalidator system enables transactions, delegations, and reward withdrawals. Additionally, MeshJS manages off-chain transactions. Mesh is an open-source library supporting Web3 app development and is currently among the few implementations compatible with Plutus V3.

With this bridge, Bitcoin users can engage with Cardano’s ecosystem without needing extra software. This offers a simple onboarding process. The developer also noted that this capability could eventually expand to all EVM chains, improving blockchain functionality and usability across networks.

Community Curiosity and Technical Breakdown

The announcement sparked curiosity among blockchain enthusiasts, who asked questions about the mechanics behind the bridge. One user questioned how Bitcoin wallets could initiate Cardano actions. The developer clarified that Bitcoin users could sign Cardano actions directly from their wallets. Once the signature is verified, Cardano nodes execute the action.

Related article: Charles Hoskinson Mocks Solana’s Struggles Amid Fake News Article

This new feature could onboard users from outside the Cardano ecosystem, allowing them to participate in activities like liquid staking and airdrops without changing their wallets. Further discussions focused on the signature validation process. The smart contract checks the UTXO, receiver, amount, and asset details against its outputs. 

This validation ensures secure and rule-compliant cross-chain transactions, opening doors for enhanced interoperability between Bitcoin and Cardano.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on FxCryptoNews

ORIGINAL SOURCE

https://www.fxcryptonews.com/charles-hos...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from FxCryptoNews

See more
How Cardano Achieved 80 TPS with Low Fees and No Hydra
FxCryptoNews
How Cardano Achieved 80 TPS with Low Fees and No Hydra

09/26/2024

·

21 views

Related News

See more
Cardano Summit 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)