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Bridging with Bitcoin

But Dfinity is not the only project working to integrate Bitcoin. Bridging technologies are the most popular method of doing so up to now.

DeFi project Portal , is also looking to build out a DeFi ecosystem for Bitcoin. On Tuesday it announced an $8.5 million raise, with Coinbase Ventures and ArringtonXRP Capital participating in the funding round.

“We're excited to see Portal's Bitcoin-native approach to multichain transfers go live and provide an alternative bridging mechanism to the growing number of active on-chain users,” Michael Arrington, founder of ArringtonXRP and TechCrunch, stated.

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MORE IDEAS FROM THE SAME ARTICLE

In November, Bitcoin is due for its first big upgrade in several years. Dubbed, Taproot , the changes will make it easier for smart contracts to be created on the protocol

Bitcoin fan Jack Dorse...

  • The Internet Computer will host Bitcoin smart contracts by the end of the year.
  • Smart contracts will enable lending, yield farming, derivatives, and other DeFi applications for Bitcoin.

“Internet Computer smart contracts will gain access to Bitcoin liquidity, and...

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