New solution will allow capital to flow from Bitcoin to Cardano; Will ADA rise?

by Stephen Douglas
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New solution will allow capital to flow from Bitcoin to
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New solution will allow capital to flow from Bitcoin to Cardano; Will ADA rise?
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Bitcoin rollup protocol BitcoinOS launched its bridge called Grail on the Cardano network last Thursday, facilitating the transfer of capital between Bitcoin and the Cardano ecosystem. The objective of the initiative is to allow Bitcoin holders to direct their assets to the Cardano network.

Likewise, users will be able to move their ADA tokens to the Bitcoin environment. Among the project participants is EMURGO, one of Cardano’s founding entities. The company will work on developing tools and services to attract BTC capital to the Cardano ecosystem. Furthermore, it will allow the circulation of ADA on the Bitcoin network.

BitcoinOS stated that Grail is the first bridge to use zero-knowledge proofs (ZK proofs) validated on Bitcoin, first applied in April, as a security framework for the secure transfer of assets between blockchains.

This ZK proofs technology offers an additional layer of protection by enabling an operator to prove the validity of information without revealing extra details. According to the company, this approach reduces security risks, a common concern when using blockchain bridges.

Capital flowing between Bitcoin and Cardano

The Grail bridge adopts a decentralized, permissionless model. This means that the safety of users’ funds depends only on one honest participant among hundreds of traders. This “1-of-n” scheme, as it is known, ensures that assets remain safe even if multiple operators are involved in operating the bridge.

Bridges like Grail are tools that enable the transfer of assets between blockchain networks where those assets would not otherwise be supported. However, these bridges are notorious for being one of the most vulnerable points in the cryptoasset infrastructure, often being targets of attacks.

The adoption of zero-knowledge proofs, as stated by BitcoinOS, aims to reduce these vulnerabilities. This is because it provides a safer structure for moving assets between networks.

At the time of writing this article, the ADA token was priced at US$0.34, according to data from CoinGecko. The cryptoactive registers an increase of 0.3% in the last 24 hours, following the general downward trend of the market. The expectation is that, with the solution, capital will flow more easily from Bitcoin to Cardano, boosting the price of ADA.

New solution will allow capital to flow from Bitcoin to Cardano; Will ADA rise?

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New solution will allow capital to flow from Bitcoin to Cardano; Will ADA rise?

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