CandleFocus Bitcoin Project BOB Maps Out How the Original Blockchain Could Take Over DeFi
2024-10-24
Author: Content Editor
The team behind the project BOB, short for "Build everything on Bitcoin," has proposed a design for a hybrid layer-2 network that positions Bitcoin as the foundation for decentralized finance (DeFi). BOB aims to create trust-minimized bridges between Bitcoin and other layer-1 blockchains like Ethereum, allowing users to deposit assets from various chains onto the BOB network to leverage Bitcoin's liquidity and security. The proposed network would use Bitcoin as an anchor chain, with other layer-1 blockchains verifying transactions on Bitcoin before accepting withdrawals. BOB's vision is to make Bitcoin the center of the crypto universe and utilize its security for cross-chain DeFi.
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