3 weeks ago
23982
ARTICLE AD BOX
TLDR
- Cardano and BitcoinOS partner to access $1.3T in Bitcoin liquidity
- Integration uses zero-knowledge proofs via BOS Grail bridge
- New toolkit “Aiken” enables cross-chain smart contract development
- Bitcoin Education Project to relaunch in 2025
- Analysts project potential ADA price target of $1.80 with support at $0.30-$0.35
Cardano has announced a partnership with BitcoinOS that aims to connect $1.3 trillion worth of Bitcoin liquidity to its network.
The collaboration, revealed at the Cardano Summit 2024, introduces new technology to bridge the gap between these two major blockchain platforms.
The partnership centers on implementing BitcoinOS’s zero-knowledge proof system through the BOS Grail bridge.
This technical solution creates a secure connection for moving Bitcoin and related assets onto the Cardano network without requiring intermediaries.
The new integration allows Cardano to function as a smart contract layer for Bitcoin. This means developers can build applications that interact directly with Bitcoin’s market and liquidity pool, expanding the possibilities for decentralized finance (DeFi) applications on both networks.
Cardano Price on CoinGeckoA key component of this initiative is the introduction of Aiken, a programming toolkit designed specifically for creating smart contracts that work across both platforms.
This tool aims to make development more straightforward for programmers working in both ecosystems.
Charles Hoskinson, the founder of Cardano, has expressed optimism about the partnership’s potential impact. He believes the integration could lead to DeFi applications on Bitcoin that rival or exceed those on other major platforms like Ethereum and Solana.
Now that Bitcoin's back in the family and innovating again, thanks to @BTC_OS, I will re-launch the Bitcoin Education Project in 2025 and produce a new edition of my course. We are also going to prepare Aiken education for Bitcoin developers, including hosting on…
— Charles Hoskinson (@IOHK_Charles) October 25, 2024
The Bitcoin Education Project will make a return in 2025, according to Hoskinson’s announcement. This educational initiative aims to help developers understand how to work effectively across both blockchain systems and includes updated course materials.
The BOS Grail bridge employs zero-knowledge proofs to maintain privacy and security during cross-chain transactions.
This technology allows for transaction validation without exposing sensitive details, adding an extra layer of protection for users of both networks.
Market analysts are watching ADA, Cardano’s native token, for potential price movements following this announcement.
Current analysis shows ADA attempting to break through the $0.39 price level, which has previously acted as a resistance point.
Technical analysis suggests a support range between $0.30 and $0.35 for ADA. Some analysts have projected a potential long-term price target of $1.80, provided these support levels hold.
The partnership addresses a key limitation of Bitcoin – its inability to support complex smart contracts and decentralized applications. By connecting with Cardano’s infrastructure, Bitcoin users gain access to more advanced blockchain features while maintaining security.
Developers on the Cardano network can now tap into Bitcoin’s substantial liquidity for their projects. This access could lead to new types of applications and financial products that combine the strengths of both networks.
The implementation includes tools for developers to create solutions that work across both blockchains. This cross-chain compatibility aims to reduce barriers between the two networks and create more opportunities for blockchain development.
Recent price analysis indicates that ADA is in what traders identify as a third wave of upward movement, with $0.55 serving as an immediate target. However, the token faces selling pressure at the $0.39 mark.
English (US) ·