Solana-to-Bitcoin cross-chain bridge aims for Q3 2024 launch

As a researcher with a background in blockchain technology, I’m excited about the upcoming launch of Zeus Network’s Zeus Program Library (ZPL) that aims to connect Solana and Bitcoin ecosystems by Q3 2024. The potential of this cross-chain bridge is significant, as it unlocks a world of opportunities for decentralized applications (dApps) on Solana that were previously challenging on the Bitcoin blockchain.

By Q3 2024, Zeus Network, the cross-chain bridge connecting Solana and Bitcoin, plans to introduce its Zeus Program Library (ZPL). This library serves as a link, facilitating interaction between the two distinct blockchain ecosystems in a natural and smooth manner.

As an analyst, I would rephrase it as: “On May 1, Zues Network stated that the ZPL-Assets open up a vast array of possibilities on Solana. They simplify activities such as Decentralized Finance (DeFi), Gaming Finance (GameFi), Social Finance (SocialFi), and Decentralized Pinned Assets (DePIN), which were once complex on the Bitcoin blockchain.”

ZPL represents a collection of Solana Virtual Machine (SVM) programs created by Zeus Network. These programs allow developers to incorporate native Solana functionality into decentralized applications and facilitate cross-chain transactions. The assets in the ZPL ecosystem can take the form of fungible tokens, equivalent to cryptocurrencies, or non-fungible tokens (NFTs), representing various digital assets.

“With a market cap of approximately 1.2 trillion dollars, and over 11,000 Runes generating over $135 million in fees within the first week on the Bitcoin blockchain, the potential for value transfer is immense.”

By employing ZPL and the Apollo bridging protocol, Bitcoin (BTC) owners have the opportunity to transfer their Bitcoin into zBTC wrapped tokens in the form of ZPL. This enables users to interact with decentralized platforms on Solana, such as decentralized exchanges, NFT marketplaces, borrowing and lending services, games, and SocialFi applications, without having to move their original Bitcoin each time.

As a crypto investor, I’m excited to hear that the developers of Zolla Protocol (ZPL) have announced plans to extend their asset support on Solana beyond current offerings to include Bitcoin Runes (zRuneX) and Ordinals (zOrdX). Additionally, they aim to enable Bitcoin staking on their Apollo mainnet in Q3. This expansion is an important step towards increasing the utility and versatility of ZPL within the crypto ecosystem.

As a crypto investor, I’d put it this way: I’m excited about Zeus Network because it has the support of industry heavyweights like Anatoly Yakovenko, co-founder of Solana, and Muneeb Ali, co-founder of Stacks. In early April, they successfully raised $8 million in funding, valuing the protocol at a impressive $100 million.

As a researcher, I’m excited to share that in April, a new token standard named Bitcoin Runes hit the scene. This innovation extends the capabilities of the Bitcoin blockchain by allowing users to represent real-world assets as tokens. These assets can range from tangible items like real estate and stocks, to commodities and even other cryptocurrencies such as stablecoins.

As a researcher exploring the intricacies of the Bitcoin network, I’ve come across an interesting development called Bitcoin Ordinals. This system assigns a distinct identifier to every satoshi – the smallest unit of a Bitcoin, equivalent to 0.00000001 BTC. By doing so, it facilitates tracking transactions and even allows for minting unique digital assets directly on the Bitcoin blockchain.

The Bitcoin application ecosystem has seen a resurgence recently, marked by the introduction of innovative new protocols. Last month, Orders Exchange achieved integration with the Bitcoin Runes protocol, enabling the creation of fungible tokens on the native network. Additionally, Orders Exchange built a bridge with MicroVisionChain, allowing for BRC-20 token exchanges.

2024-05-01 23:49

Read More