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Cardano links to Bitcoin network through Grail Bridge

Cardano links to Bitcoin network through Grail Bridge

GrafaGrafa2024/10/25 02:51
By:Liezl Gambe

Cardano (CRYPTO:ADA) has officially integrated with the Bitcoin (CRYPTO:BTC) network through the BitcoinOS Grail Bridge, marking a strategic step for Cardano’s liquidity and functionality. 

According to a recent announcement from BitcoinOS (BOS), this collaboration makes Cardano the first major layer-1 blockchain to join the BOS infrastructure, providing access to substantial liquidity within the Bitcoin ecosystem. 

The integration, led by Cardano’s founding organisation EMURGO in partnership with BOS, aims to enhance liquidity by establishing a reliable bridge for BTC and other assets. 

This development lays the foundation for “decentralized programmability” within the Bitcoin network, leveraging Cardano’s capabilities to support future advancements. 

Crypto analyst Dan Gambardello sees this as a pivotal move for ADA. 

He explained that with Bitcoin prices starting to recover, altcoins like Cardano are pursuing growth through key updates. 

However, he emphasised that the Cardano community may not fully recognise the magnitude of this integration. 

“Cardano is the most technically important network after Bitcoin,” Gambardello stated. 

Despite the announcement, Cardano’s native token ADA has not yet seen a positive price impact, declining by over 1% in the past 24 hours and trading at around $0.34. 

Nonetheless, Cardano’s founder Charles Hoskinson expressed enthusiasm, welcoming the integration with the message, “Welcome, Bitcoin.” 

His comment aligns with previous statements claiming that Cardano could surpass both Bitcoin and Ethereum (CRYPTO:ETH) in the future. 

The integration of Cardano with Bitcoin opens new avenues for connectivity between the two networks. 

According to BitcoinOS, the Grail Bridge employs zero-knowledge proof technology to enable users to securely move assets within the Bitcoin network and its layer-2 solutions.

At the time of reporting, the Bitcoin price was $67,868.98, and the Cardano price was $0.3441.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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