As a seasoned analyst with over two decades of experience in the blockchain industry, I must say that witnessing Zeus Network’s achievement of validating the first Bitcoin transaction on Solana is nothing short of revolutionary. Having followed the evolution of both Bitcoin and Solana since their inception, it is fascinating to see these two giants of the crypto world coming together.
Zeus Network has validated the first Bitcoin transaction on the Solana blockchain.
On December 12th, Zeus Network made history by successfully executing the first Bitcoin transaction on the Solana network through their own infrastructure. As stated in a press release from Zeus, this innovation links the two separate blockchain systems, allowing Bitcoin transactions to benefit from Solana’s swift and affordable infrastructure.
Bitcoin relies on proof-of-work, while Solana combines proof-of-history with proof-of-stake. The Zeus Network’s (ZEUS) innovative system serves as a connection, enabling Bitcoin to be transformed into a token that can be traded on the Solana network without affecting Bitcoin’s original system.
BREAKING: @solana can now validate Bitcoin transaction!
Here’s what happened 🧵 👇🏻
— Zeus Network 🟧⛈️🟣 (EPOCH 1) (@ZeusNetworkHQ) December 12, 2024
As a researcher, I delved into the task of recreating the intricate structure of Bitcoin’s blockchain on the Solana platform, utilizing the fundamental elements of the Zeus Network – namely, the ZeusNode Operator and the Zeus Program Library. This endeavor aimed to seamlessly integrate Bitcoin-like functionality within the Solana ecosystem.
In simpler terms, Bitcoin transactions are confirmed, secured, and linked to the Solana network, thereby facilitating the movement of Bitcoin’s liquidity towards financial applications within the Solana decentralized ecosystem.
Future Zeus integrations
As a crypto investor, I’m excited about the ambitious plans Zeus Network has announced. According to their recent release, they aim to broaden the integration even more. Their roadmap is fascinating, with a goal to onboard 1% of Bitcoin’s liquidity onto Solana by mid-2025. Furthermore, they plan to incorporate other UTXO-based assets such as Litecoin (LTC), Dogecoin (DOGE), and Kaspa (KAS) into their system.
By that time, ZeusNode is hoping to manage approximately 2,250 BTC.
Moreover, starting in early 2025, the network intends to make public the Zeus Program Library as open-source software, inviting developers to construct applications utilizing its framework. This endeavor aims to draw in decentralized application (dApp) projects, thereby improving cross-chain compatibility within the system.
Read More
- POL PREDICTION. POL cryptocurrency
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- AI16Z PREDICTION. AI16Z cryptocurrency
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Springfield man is convicted for using crypto to finance ISIS operations
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- Blockaid new dashboard to track Web3 activity and threats
- PYTH PREDICTION. PYTH cryptocurrency
- Shiba Inu, Bonk, Pepe prices rebound: Beware of dead cat bounce
2024-12-13 00:05