Cardano reached a significant milestone this week with the launch of anetaBTC on the mainnet. On August 8, the anetaBTC protocol, which introduces on-chain wrapped BTC to blockchains, was deployed on the Cardano mainnet, marking a significant step forward in blockchain interoperability.
This long-awaited event adds Bitcoin to the Cardano ecosystem, allowing customers to easily collaborate with both currencies.
The combination of wrapped Bitcoin and the Cardano ecosystem is notable as a deliberate effort to draw a larger audience and total wealth locked (TVL) from Bitcoin, which today has the highest market capitalization of $572 billion. Bitcoin wrapped in the anetaBTC protocol is known as cBTC.
Bitcoin has now been efficiently coined on the Cardano mainnet, a further milestone pointing to the successful launch of the anetaBTC protocol.
In a fresh tweet, anetaBTC released a screenshot of new BTC being effectively created on Cardano. This amount was 1.706 cBTC. According to the tweet, 6.19 cBTC have been minted on the Cardano mainnet in total.
Following its introduction, AnetaBTC assures future protocol improvements. AnetaBTC V2 with multisig is almost ready for release, however there may be some further work to be done, even if current contracts support V2.
Cardano has had an eventful week.
Throughout the week, Cardano observed important developments.According to the most recent weekly report from IOG, node v.8.2.1-pre has been tagged and prereleased for use on SanchoNet, a brand new development community developed to introduce the Cardano neighborhood to governance options from CIP-1694 and to construct and test collaboratively in a managed context.
Also this week, the Lace team released Lace v.1.4, which includes new features, “ADA Deal With” support upgrades, and bug fixes. The Venture Catalyst Stage 2 community evaluation began on August 10.