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Zeus Network introduces zBTC for Bitcoin on Solana

Zeus Network introduces zBTC for Bitcoin on Solana

GrafaGrafa2024/12/31 13:30
By:Mahathir Bayena

Zeus Network (CRYPTO:ZEUS) has unveiled zBTC, a tokenised version of Bitcoin (CRYPTO:BTC) valued at $92,669, on the Solana (CRYPTO:SOL) network, which is currently trading at $189.

This initiative aims to provide Bitcoin holders with new yield opportunities, expand cross-chain liquidity, and foster growth in decentralised finance (DeFi).

The successful launch of zBTC bridges Bitcoin and Solana, enabling users to engage in Solana’s DeFi ecosystem without compromising the security of their BTC.

“Zeus Network and Guardians are redefining Bitcoin’s liquidity usage, providing pathways for integration on Solana without requiring permission,” according to Zeus Network CEO Justin Wang.

zBTC operates transparently on the Solana blockchain and is supported by ZeusNode architecture and the Zeus Program Library (ZPL).

These technologies ensure secure verification and transactions while preserving Bitcoin’s original protocol.

The solution enhances transaction efficiency between the two networks by making them faster and more cost-effective.

Zeus Network aims to integrate additional cryptocurrencies, including Dogecoin (CRYPTO:DOGE), Litecoin (CRYPTO:LTC), and Kaspa (CRYPTO:KAS), by 2025.

The company also plans to bring 1% of Bitcoin liquidity—equivalent to 2,250 BTC—to the Solana network by mid-2025.

A key milestone in this effort is the decision to make the Zeus Program Library open-source by 2025.

This move is expected to encourage developers to create new applications and further enrich the Zeus ecosystem.

“The first permissionless BTC has now been launched on Solana!” Zeus Network emphasised in a statement reflecting on the achievement.

At the time of reporting, the Zeus Network (ZEUS) price was $0.6978, the Bitcoin price was $92,560.76, and the Solana price was $188.46.

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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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