BitAcross Launches Cross-Chain Bridge Testnet For Bitcoin Assets, Supporting BRC-20 Tokens
In Brief
BitAcross launched Bitcoin cross-chain bridge on the testnet, supporting BRC-20 assets, with plans to add ARC-20, Bitcoin, runes, and more.
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.
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.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
