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Bitcoin

Trustless BTC Stablecoin Bridge Launches on Polkadot

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  • Interlay has launched a fully trustless wrapped BTC asset on Polkadot: interBTC (ticker: iBTC).
  • iBTC is a Bitcoin-backed stablecoin, maintained by a decentralized network of collateralized Vaults and redeemable 1:1 for BTC.
  • interBTC can already be used in DeFi via Acala and Moonbeam. The Interlay network treasury has launched a $1 million incentive program to help bootstrap Polkadot’s DeFi growth with Bitcoin liquidity.
  • Following Polkadot, Interlay’s goal is to make iBTC available on other major DeFi networks, including Ethereum, Cosmos, Solana, and Avalanche.

Interoperability network Interlay has launched interBTC (ticker: iBTC) – the first fully trustless and decentralized wrapped Bitcoin bridge – on Polkadot. iBTC is a secure way to use Bitcoin on other blockchains for DeFi, cross-chain transfers, NFTs, and more.

The design of interBTC resembles MakerDAO’s DAI: a Bitcoin-backed stablecoin, secured by a decentralized network of overcollateralized Vaults. A unique advantage is its physical peg to Bitcoin: iBTC can be redeemed 1:1 for BTC directly on the Bitcoin blockchain. Vaults secure BTC and use mixed-asset collateral as insurance. In case of a Vault failure, collateral is slashed and BTC depositors are reimbursed at a premium rate. Anyone can run a Vault.

The trustless model sets iBTC apart from all other cross-chain bridges. The only trust required is in Bitcoin and the security of the target blockchain, Polkadot. There is no single point of failure, and any loss of BTC is automatically reimbursed from the collateral insurance.

“Bitcoin is the driving force behind global crypto adoption, while Polkadot, Ethereum & co. is where technological innovation is happening. With interBTC, we combine the best of both worlds, while preserving the trustless nature of Bitcoin.” Says Dr Alexei Zamyatin, Interlay co-founder & CEO

Polkadot has been gaining traction since the launch of parachains, measuring over $1bn in DeFi TVL across projects, 150k monthly active users, and the second-largest web3 developer community (source). With the launch of iBTC, Polkadot is one of the only networks with a fully decentralized Bitcoin bridge – something envisioned by Ethereum co-founder and Polkadot inventor Gavin Wood in the original white paper.

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At launch, interBTC will be used on Polkadot’s two largest DeFi hubs: stablecoin issuer and trading platform Acala and Moonbeam, an Ethereum-compatible smart contract network. The Interlay network treasury, together with partner projects, has launched a USD 1mm liquidity program with the goal to accelerate Polkadot’s growth with BTC liquidity.

Following Polkadot, iBTC will be available on other major DeFi networks, including Ethereum, Cosmos, Solana, and Avalanche – two of which are planned to go live later this year. Interlay continues work on v2 of the Bitcoin bridge, aiming to launch the first non-custodial Bitcoin DeFi solution in 2023 (as reported by Cointelegraph here).

Bitcoin

LQWD Technologies To Attend Pacific Bitcoin Conference 2023

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Photo Source: pacificbitcoin.com

LQWD Technologies (TSXV: LQWD) (OTC: LQWDF) a front-runner in Bitcoin Lightning Network solutions, is pleased to announce its participation in the Pacific Bitcoin Conference 2023. This premier event is scheduled to take place in Santa Monica, CA, on October 5-6.

Representing LQWD Technologies at the conference will be CEO Shone Anstey, who will be hosting a dedicated booth.

The Pacific Bitcoin Conference serves as a nexus for knowledge exchange and networking in the realm of Bitcoin and blockchain technologies.

Those interested in attending can find more information and purchase tickets on the official event website. To arrange a meeting with the LQWD Technologies team, please reach out to [email protected].

Website: www.lqwdtech.com
Twitter: @LQWDTech

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. 

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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 

 

 

SOURCE LQWD Technologies Corp.

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Bitcoin

GoMining Reveals Cutting-Edge North NFT Collection

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Leveraging its vast experience since 2017, GoMining is leading the way in bitcoin mining, providing users with an effortless and user-friendly service. Now the company has introduced the so-called North Collection.

The company’s NFT collections provide daily bitcoin rewards to holders, with their substantial fleet of real equipment installed across the globe. Continuing their successful streak after the highly acclaimed East NFT Collection, this latest release marks the next installment in a series of crypto art devoted to various regions. GoMining’s fresh North NFT Collection draws inspiration from three key references: the critical role of low temperatures in mining device operations, the restraint and resilience found in northern regions, and the empowering force driving their endeavors. These references served as the foundation for the collection’s captivating images, reflecting the core principles behind GoMining’s innovative approach to bitcoin mining.

GoMining’s new NFT series is issued on the Binance Smart Chain, utilizing the BEP-20 standard for seamless integration and accessibility. With an impressive energy efficiency rating of 35 W/TH, these NFTs ensure the quickest payback period for holders. Moreover, the NFTs offer a diverse range of computing power options, spanning from 1 to 128 TH/s, accommodating various mining requirements and preferences.

In just over two years, GoMining has achieved remarkable growth. The platform has distributed more than 2,000 BTC to holders, issued 20,000 NFTs, and elevated its overall hash power from 100,000 TH/s to an astounding 2,359,877 TH/s. This exponential progress showcases the project’s resounding success and commitment to innovation in the cryptocurrency and NFT space.

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As per GoMining’s CEO Mark Zalan, the company is doing everything to offer a broad variety of options to its holders, proving its sustainability and transparent approach. “We’ve been in operation for over two years providing consistent rewards for our holders daily. All of our efforts are aimed at showing tangible infrastructure behind the product – in this case real equipment with data centers in different regions like Norway.”

GoMining remains dedicated to introducing updated versions of its NFTs, originally crafted to provide easier access to bitcoin mining. All NFT collections, such as the renowned collaboration with MMA star Khabib Nurmagomedov, combine visually stunning designs with real equipment-generated computing power, offering continuous mining rewards to their owners.

The new North collection is available here.

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New study reveals the cryptocoins that the US wants to sell the most

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A new study has revealed the cryptocoins Americans want to sell the most, with Bitcoin taking the top spot.

The research was conducted by crypto gambling experts at cryptogambling.tv, who analyzed Google Trends data to establish the cryptocurrencies the US wants to sell the most out of the 24 largest cryptocurrencies by market cap, giving an average weekly search volume for the interest in selling each cryptocoin.

The study revealed that Bitcoin has the highest number of searches from Americans looking to sell this cryptocurrency. Searches to ‘sell bitcoin’ were the highest at the end of July in the United States and worldwide.

Many factors might sway someone to sell their Bitcoin, with the main reason being the current financial and economic strain many countries in the world are facing, prompting people to tap out and cut their losses. Last year the price of the cryptocoin dropped below $16,000, which highlights its downfall tremendously, and with Bitcoin’s value being based purely on speculation, it can be challenging for those who don’t know whether or not to stick with it. 

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Ethereum is the second cryptocoin Americans want to sell the most, with searches for ‘sell Ethereum’ being the highest in September worldwide. Although the currency is known for owning around 20% of the global crypto market, those wanting to invest tend to agree that it is one of the safest long-term coins. The current price of Ethereum is $1,458, and with the cryptocoin shifting its process from PoW to PoS, it’s predicted its supply may reduce.

XRP is the third cryptocoin Americans want to sell the most, as it is predicted that its price will be near $0.198 by the end of this year. XRP runs by RippleNet and is a low-cost coin which is excellent for those who want to begin investing; however, due to the current lawsuit proceedings with the SEC, there is a significant decrease in interest for the currency, which has undoubtedly urged investors to act fast and sell.

The fourth cryptocoin Americans want to sell the most is Dogecoin, which, although it has remained one of the top cryptocurrencies in the industry, is still not a solid investment for many investors. The coin rose over 15,000% over 2021, and for a cryptocoin which was created as a joke when it first began, it has truly exceeded expectations. Many avoid investing in Dogecoin due to its price volatility, no supply limit, and not being as widely accepted as other competing coins; these are reasons why many also want to sell.

Shiba Inu is the fifth cryptocoin that Americans are looking to sell, and while the coin is top-rated, it is advised that those looking to invest should not use it as a long-term investment. The coin is down almost 92% since 2021, but many investors hope it will still go up in time as it is currently at over 589 trillion.

An expert at cryptogambling.tv commented: “The cryptocurrency market is forever fluctuating, and with the increase in economic stress worldwide, it can be an uncertain and nerve-racking time for those hoping to make sound investments in the crypto world.

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“This study offers an interesting insight into which cryptocoins Americans currently want to sell, with Bitcoin being the most popular to sell.” 

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