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Avalanche says BTC bridging is at present solely obtainable through its Core Browser Extension.
Avalanche has added support for native Bitcoin (BTC) on the platform, which can occur through the Avalanche Bridge, in line with a press launch printed on Wednesday.
The answer permits customers to make the most of their Bitcoin within the DeFi sector by instantly transferring BTC to Avalanche, with customers in a position to faucet into incomes and yield alternatives.
Customers will nonetheless be capable to maintain Bitcoin on their portfolio, the group on the Layer 1 blockchain stated within the announcement.
Over $500 billion in worth to Avalanche DeFi
Avalanche, which is suitable with the Ethereum Virtual Machine (EVM), launched the Bridge performance in August 2021. Over $50 billion in worth transfers have occurred within the blockchain’s DeFi ecosystem by way of the bridge since.
This will seemingly go up massively if the characteristic sees important uptake throughout the Bitcoin neighborhood. According to Avalanche, the BTC support targets unlocking over $500 billion of worth at present on the Bitcoin community and bringing it to the Avalanche DeFi ecosystem.
With the discharge of @CoreApp_, the Avalanche Bridge has added support for bridging native Bitcoin to #Avalanche
This new performance unlocks half a trillion {dollars} of worth on the Bitcoin community, permitting customers to place their $BTC to work on Avalanche🤝https://t.co/CHNQ7ck2oz
— Avalanche 🔺 (@avalancheavax) June 22, 2022
Ava Labs releases Core browser extension
Avalanche’s launch of the BTC Bridge got here on the similar time that Ava Labs introduced the launch of its Core Browser Extension. The non-custodial extension, obtainable without cost to customers, is designed to assist prospects discover Web3 alternatives on Avalanche.
Users looking for to make use of their BTC within the DeFi ecosystem through the brand new bridge might want to obtain the Core Browser Extension. Avalanche doesn’t support BTC bridging through Metamask or different wallets, the group stated.
There are plans to additionally add support for Ethereum (ERC-20) tokens by way of the browser extension.
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