Cardano $0.340933 network, Bitcoin via the BitcoinOS Grail bridge
$66,872 joined the ecosystem. This integration will help scale the largest blockchains in terms of market cap and lay the groundwork for “decentralized programmability” in the network.
Integration and Functionality
According to the statement made by BitcoinOS (BOS), the integration of Cardano into the BOS Grail bridge has been completed. This makes Cardano the first major layer-1 blockchain to be included in the BOS infrastructure, providing access to the massive liquidity on the Bitcoin network.
According to the information in the announcement, EMURGO, the founder of the Cardano network, collaborated with BOS to increase liquidity through Grail Bridge. This collaboration will make it possible to securely bridge BTC and other Bitcoin network assets.
Effect on ADA Price
Cryptocurrency analyst Dan Gambardello stated that this move is important for the ADA price. Gambardello pointed out that this announcement was made at extremely good timing for Cardaon (ADA). As the BTC price begins to recover, altcoins are looking for ways to grow with such major updates.
Dan Gambardello: “I think this announcement is well-timed for the ADA.”
Gambardello added that they did not understand how big a deal the integration of the Cardano network into Bitcoin was and that Cardano was “the most technically important network outside of Bitcoin.” The ADA price has not yet responded positively to the integration and is trading at approximately 0.34 USD, decreasing by over 1% in the last 24 hours.
Cardano founder Charles Hoskinson stated in a statement that he welcomed the integration and said, “Welcome Bitcoin.” This statement explains Cardano’s impact on Bitcoin and Ethereum. $2,522It came right after his statements claiming that he would leave ‘s behind within twenty years. It is worth remembering here that most investors still criticize “slow development” and that the Cardano network has still not been able to build its own huge ecosystem and interesting applications.
This integration enables continuous connection between Bitcoin and Cardano. It is extremely important to bridge networks with each other and build a value ecosystem that is greater than the sum of its parts. Grail Bridge uses zero-knowledge proof technology to enable users to move their assets securely across the Bitcoin network and layer-2 networks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.