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.