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- Hey Square fam! How many Alpha points have you racked up lately?
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Dare to trade. Dare to win.
Charles Hoskinson Made the Announcement He Has Been Waiting for a Long Time: He Signed a Principle for Bitcoin (BTC) and Cardano (ADA)!
Cardano (ADA) founder Charles Hoskinson, finally announced the innovation he has been talking about for a long time. According to this, Hoskinson announced the launch of Cardinal, the first Bitcoin DeFi protocol on the Cardano network.
Cardano launched the Cardinal Protocol for DeFi, enabling BTC lending, staking, and more without centralized custody and the need for third-party custodians. Bitcoin (BTC).
The Cardinal Protocol allows users to utilize their Bitcoins by lending, borrowing, or staking on the Cardano blockchain.
Cardinal is seen as the first solution that allows Bitcoin to access the Cardano ecosystem without the need for custody, marking a groundbreaking innovation for BTC and ADA.
Finally, it was stated that Cardinal uses a secure MuSig2 multi-signature system. This method enables peg-in and peg-out transactions, ensures that everything is open and verifiable, and is also compatible with the Ethereum (ETH), Solana (SOL), and Avalanche (AVAX)*** networks.
Cardano CTO Romain Pellerin stated that the Cardinal Protocol is a significant step and that some innovations are on the way. Accordingly, future upgrades may include wallet support, zero-knowledge proofs, and deeper liquidity.
*It is not investment advice.
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