DeFi
Bitcoin becomes interoperable with Optimism and Arbitrum
Crypto and DeFi News: Yesterday, the DFINITY Foundation, a Swiss non-profit organization focused on the development of the Internet computing blockchain, announced a solution that enables strong interoperability between Bitcoin and networks like Arbitrum, Optimism and Base .
This is the introduction of EVM RPC, an API key that allows ICP smart contracts to read and write data across different blockchains.
This is the first step to successfully reprogramming Bitcoin inside DeFi applications through the interior space of the EVM network.
Let’s see everything in detail below.
Crypto and DeFi: DFINITY Introduces EVM RPC and Allows Bitcoin to Communicate Freely with Arbitrum, Optimism and Base
Yesterday on DFINITY Foundation dropped a bombshell by announcing the integration of a API on the chain that opens maximum interoperability between Bitcoin, Ethereum and other EVM networks like Optimism, Arbitrum and Basewithout having to resort to dangerous crypto bridges or DeFi protocols.
The new tool launched by the Internet Computer team is RPC EVM: an API key that allows chain communication between smart contracts and different blockchains.
At the same time, the stablecoin ckUSDC was introduced, fully interoperable with ICP and backed 1:1 to USDC.
In practice, EVM RPC greatly simplifies the development of multi-chain dApps, making it as simple and native as if built in a single environment.
This integration represents an important step both for the DFINITY Foundation, which after several years of work and development of the Chain Fusion framework approaches to bring Bitcoin programmability into DeFiand for the entire crypto world who will be able to solve the problems of liquidity fragmentation in the liquidity.
The developers of the group, on the 3rd anniversary of ICP, announced that they will soon also introduce integration for Solana, eliminating any type of intermediary.
Spear #ICPIt’s the 3rd anniversary with a bang 🎉
Tritium Milestone, powered by Chain Fusion, is now LIVE
✅ ckERC20 and ckUSDC tokens
✅ RPC canister for Ethereum and EVM integration
✅ ECDSA signature latency threshold and throughput improvementsExplore: https://t.co/oZrPKo7CLF pic.twitter.com/EtNw4CQU71
– DEFINITY (@dfinity) May 23, 2024
The road to DeFi progress has just been mapped out: Since EVM RPC is a generic protocol, developers from other ecosystems can simply add their own network API keys to increase interoperability and leverage resources from other ecosystems apart from Bitcoin, Ethereum and other EVM chains like Optimism and Arbitrum.
This new feature can enable a multitude of other innovative use casessuch as web-based multi-chain ports, cron jobs and smart contracts on Ethereum, unlimited multi-chain edge routing capability, gemelli token based on chain key redaction, elaboration prescriptions and BRC20 token and many others.
New stable coin ckUSDC for example, along with other cross-ecosystem assets of ICP, such as ckBTC and ckETH, ckUSDC represents a “dual-tokenized” multi-chain USDC that leverages chain-key cryptography and ICP smart contracts that hold directly to the original assets. It allows tokens to be sent and received with 1-2 seconds finality and negligible fees, all without the need for bridges or off-chain solutions.
All this opens the doors to multiple connections and much more freedom for crypto developerswho will be able to integrate others ERC20 tokens in their projects using ICP’s advanced interoperability features.
Regarding the new integration, Lomesh Dutta, Vice President of Growth at DFINITY, said the following:
“We are excited to offer blockchain developers even more flexibility to seamlessly integrate support for new assets into their projects. With the addition of ckUSDC and read/write APIs, dozens of different chains can now leverage ICP smart contracts to freely interact with other networks, making the Web3 ecosystem extremely more interoperable and unified as a whole.
Everyone is crazy about interoperability between Bitcoin and other blockchains
The theme of multi-chain interoperabilitywith the possibility of introducing Bitcoin into other EVM and non-EVM networks, is becoming more and more central in the crypto world, with more and more projects grappling with simplifying this process.
I
Just a few years ago, it seemed unthinkable to open up to DeFi in Ethereum and others like Optimism and Arbitrum on Bitcoin, because fast and reliable communication channels did not exist.
Today, however, it seems that the challenge is being met by increasingly decentralized ecosystems, which are trying to attract the liquidity that gravitates around Bitcoin, with obvious advantages for all the native dapps in this circle.
In September last year Metamorphose introduced the innovative concept of “multichain snap”, bringing BTC, ATOM, DOGE will be held and traded natively directly on the non-custodial MetaMask walletby leveraging certain third-party services.
Bitcoin comes natively to MetaMask.
The integration was carried out via ShapeShift Multichain Snap, which adds functionality and compatibilities to the Ethereum wallet.
Highlights:
🍕-You can use Bitcoin in MetaMask natively by installing a plugin.
🍕-Litecoin, Dogecoin and Bitcoin… pic.twitter.com/5q3LPQVJsh
– THΞGABO🍌 (@thegaboeth) September 13, 2023
Also Wormhole is working to better integrate communication between Bitcoin and alternative networks like Optimism and Arbitrum, leveraging its own cross-chain interoperability framework. Likewise, other projects leverage a proprietary stack, like that of Chainlink. PICC or the omnichain version of LayerZero.
Bitcoin gets a programmable economic layer, and @Wormhole is your main gateway to it.
Building on Wormhole’s multi-chain platform, @MezoNetwork will have connectivity to over 30 channels after going live with day one support, enabling secure and rapid interoperability.
– Wormhole (@wormhole) April 25, 2024
A few days ago, precisely on the topic of interoperability, strong rumors emerged regarding an alleged upcoming integration of the Metamask Walletwhich could add support for Bitcoin directly to the walletaddressing the issue of discontinuity with the DeFi and EVM world.
According to the rumors in question, the integration could take place within the next month and follows developments that MetaMask is also pursuing with the CeFi sector, such as support for Coinbase Onramp to allow cex users to operate directly on the wallet via Coinbase Pay. .
Also the Sui ecosystema high-efficiency horizontal L1 network, is improve its interoperability component with Ethereum and L2 networks like Arbitrum and Optimism, also aiming for future connections with Bitcoin.
After the partnership announced two days ago with the on-chain solutions platform Mesh, Sui facilitates the access ramp new users from different crypto communities, opening themselves to simple and effective management of their crypto finances.
📢@meshconnectapian integrated financial solution for crypto, comes to Sui!
Mesh will integrate its seamless digital asset transfer and account aggregation technology with @Mysten_Labs‘Sui Wallet.
All other wallets in the Sui ecosystem can also adopt these tools. pic.twitter.com/5rc7dVgXfX
– Sui (@SuiNetwork) May 23, 2024
The DeFi world is evolving at the speed of light.
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
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DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
No spam, no lies, only insights. You can unsubscribe at any time.
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