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One of the highlights of this week on the Cardano (ADA) community is the integration of the power to wrap Bitcoin (BTC) on the mainnet. The deployment of cBTC on the Cardano mainnet was launched by anetaBTC, a protocol recognized to deliver on-chain wrapped Bitcoin to blockchains. 

This vital step which brings BTC to the Cardano community is essential to the development of blockchain interoperability. 

Cardano Wrapped Bitcoin Benefits

With this latest deployment, customers can effortlessly work together with each tokens on a single community. 

While the event facilitates interoperability of blockchains, it is usually a strategic method of attracting a wider viewers in addition to Total Value Locked (TVL) on Bitcoin which is thought to have the best market capitalization in the whole crypto business. 

Currently, the market cap of BTC is roughly $572 billion, about half of the entire crypto market cap.

Alongside the launch and deployment of the anetaBTC protocol, Cardano has accomplished the mint of BTC on its mainnet. Precisely, anetaBTC shared a screenshot exhibiting that 1.706 cBTC has been minted efficiently. 

New BTC efficiently minted on Cardano.

🔄 Minted: 1.706 cBTC
👼 Total: 6.19 cBTC

Mint right here ⛅️👇https://t.co/j6vHNUKIlL pic.twitter.com/FZ5LFgqd8o

— anetaBTC 👼 Mainnet Live (@anetaBTC) August 12, 2023

Moreso, the on-chain protocol famous {that a} whole of 6.19 cBTC has been minted on the Cardano community to date. 

More Bullish Cardano Updates

More upgrades are anticipated sooner or later as regards the anetaBTC protocol. Already, anetaBTC model 2 is within the works and its launch is predicted within the close to future.

Other highlights of this week embrace the 73.2 million transactions recorded on the Cardano blockchain. Also, the entire variety of insurance policies reported was over 78,000, and about 137 initiatives had been launched on the ADA blockchain. Another milestone is the pre-release of node v.8.2.1-pre to be used on SanchoNet. 

SanchoNet is a brand new growth community designed to reveal the Cardano ecosystem to governance options from CIP-1694 and to construct and check collectively in a managed atmosphere. 

Lace v.1.4 was additionally launched by the Lace staff with newly built-in options like “ADA Handle” help enhancement and bug fixes. Input Output Global (IOG), the startup behind Cardano shared an replace concerning the plan to expand Mithril answer to Africa.

Benjamin Godfrey is a blockchain fanatic and journalists who relish writing about the actual life functions of blockchain expertise and improvements to drive common acceptance and worldwide integration of the rising expertise. His wishes to teach individuals about cryptocurrencies conjures up his contributions to famend blockchain primarily based media and websites. Benjamin Godfrey is a lover of sports activities and agriculture. Follow him on Twitter, Linkedin

The introduced content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.