The Nomic Bridge paves the way for Bitcoin's smooth integration into the Cosmos ecosystem.
The Cosmos (ATOM) ecosystem will soon make the leading cryptocurrency universally accessible" thanks to a planned upgrade scheduled for October, according to non-custodial Bitcoin (BTC) bridge Nomic. 27.In the absence of a decentralized way to incorporate Bitcoin into its ecosystem, Cosmos, a well-known blockchain network with a market capitalization of over $21 billion, faces a significant problem.This problem is solved by Nomic using nBTC, an IBC-compliant token linked to the most valuable digital asset. In order to enable a seamless and interoperable Bitcoin experience within the Cosmos ecosystem, a cross-chain bridge called the nBTC Interchain Upgrade is planned.According to details provided to CryptoSlate, this upgrade will give users the ability to carry out Bitcoin transactions across the Cosmos network.Nomic's nBTC will also make its debut on Osmosis, the top decentralized exchange on Cosmos. By doing this, users of the Osmosis Zone app will be able to deposit and withdraw Bitcoin.The long-standing problem of moving Bitcoin from its native chain to another blockchain has been addressed by Nomic, according to Sunny Aggarwal, a co-founder of Osmosis.He emphasized that the introduction of Nomic Bitcoin would enable a mutually beneficial relationship between the two ecosystems, noting that while Cosmos gains from having a foundational asset for value storage, Bitcoin needs a DeFi ecosystem.The widely used Cosmos applications Kujira and Levana will also support Nomic's nBTC.The DAO will receive the Nomic bridge.In order to ensure the bridge's security before the upgrade, Turbofish, a key contributor to Nomic, disclosed that the bridge was undergoing an audit.The management of the bridge's capacity and fees will be transferred to Nomic DAO, according to plans provided by Turbofish. The DAO will now have the authority to control the BTC capacity caps, transaction fees, and overall development of the bridge.Turbofish CEO Matt Bell emphasized in a statement the need for safe and easy access to BTC for the Cosmos DeFi ecosystem. Nomic is poised to be the most secure bitcoin bridge available right now, according to Turbofish CEO Matt Bell, with these upcoming upgrades.
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The Cosmos (ATOM) ecosystem will soon make the leading cryptocurrency universally accessible" thanks to a planned upgrade scheduled for October, according to non-custodial Bitcoin (BTC) bridge Nomic. 27.
In the absence of a decentralized way to incorporate Bitcoin into its ecosystem, Cosmos, a well-known blockchain network with a market capitalization of over $21 billion, faces a significant problem.
This problem is solved by Nomic using nBTC, an IBC-compliant token linked to the most valuable digital asset. In order to enable a seamless and interoperable Bitcoin experience within the Cosmos ecosystem, a cross-chain bridge called the nBTC Interchain Upgrade is planned.
According to details provided to CryptoSlate, this upgrade will give users the ability to carry out Bitcoin transactions across the Cosmos network.
Nomic's nBTC will also make its debut on Osmosis, the top decentralized exchange on Cosmos. By doing this, users of the Osmosis Zone app will be able to deposit and withdraw Bitcoin.
The long-standing problem of moving Bitcoin from its native chain to another blockchain has been addressed by Nomic, according to Sunny Aggarwal, a co-founder of Osmosis.
He emphasized that the introduction of Nomic Bitcoin would enable a mutually beneficial relationship between the two ecosystems, noting that while Cosmos gains from having a foundational asset for value storage, Bitcoin needs a DeFi ecosystem.
The widely used Cosmos applications Kujira and Levana will also support Nomic's nBTC.
The DAO will receive the Nomic bridge.
In order to ensure the bridge's security before the upgrade, Turbofish, a key contributor to Nomic, disclosed that the bridge was undergoing an audit.
The management of the bridge's capacity and fees will be transferred to Nomic DAO, according to plans provided by Turbofish. The DAO will now have the authority to control the BTC capacity caps, transaction fees, and overall development of the bridge.
Turbofish CEO Matt Bell emphasized in a statement the need for safe and easy access to BTC for the Cosmos DeFi ecosystem. Nomic is poised to be the most secure bitcoin bridge available right now, according to Turbofish CEO Matt Bell, with these upcoming upgrades.
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