Chain-key bitcoin (ckBTC), a non-custodial Bitcoin token based on the Internet Computer blockchain (ICP), will soon be bridged to the Cosmos ecosystem through decentralized exchange Osmosis. This move comes as developers in the decentralized finance (DeFi) space seek to export bitcoin to other blockchain ecosystems. Cosmos, despite being ranked 19th in market capitalization, holds significant influence due to its architecture and technology. Osmosis is partnering with ICP-built Omnity Network to provide the service. This development follows concerns over Tron founder Justin Sun's influence in Wrapped Bitcoin (WBTC), leading to competitors like ckBTC offering alternatives.
- Content Editor ( coindesk.com )
- 2024-09-18
ICP-Based Bitcoin Token 'ckBTC' Will Bridge to Cosmos Through Osmosis