Solana is preparing to enhance its ecosystem liquidity by establishing a connection to the Bitcoin network. The project, which will be facilitated by the Zeus Network, is set to launch a revolutionary cross-chain bridge by the third quarter of 2024.
The cross-chain bridge, known as the Solana-to-Bitcoin bridge, will utilize the Zeus Program Library (ZPL) to connect the two blockchain networks. The ZPL, which is a suite of programs built on the Solana Virtual Machine (SVM), aims to bridge the gap between different blockchains and enable interoperability at scale. This will provide Solana developers with access to a wide range of decentralized activities, including GameFi, DeFi, SocialFi, and decentralized physical infrastructure networks (DePIN), which were previously difficult to achieve on the Bitcoin blockchain due to design limitations.
The ZPL assets, which can take the form of cryptocurrencies and NFTs, will allow for seamless transactions between Bitcoin and Solana. This cross-chain bridge opens up immense opportunities for value transfer, as the Bitcoin blockchain currently boasts a market cap of approximately $1.2 trillion and generates over $135 million in fees within the first week.
The Zeus Network has gained major credibility and experience in the industry, with backing from Solana’s Co-Founder Anatoly Yakovenko and Stacks Co-Founder Muneeb Ali. This support will significantly contribute to reshaping the way blockchains interact.
The Solana-to-Bitcoin bridge will enable users to deposit their Bitcoin and receive ZPL-wrapped zBTC tokens in return. These tokens can be used across the Solana network, granting access to decentralized applications and marketplaces. Users will be able to engage in decentralized exchanges, NFT trading, borrowing, lending, gaming, and SocialFi within Solana’s vibrant community.
This cross-chain bridge represents a major advancement in blockchain interoperability, expanding the use cases for both Solana and Bitcoin. It also creates new opportunities for developers to innovate in the decentralized finance space.
The launch of the bridge in Q3 2024 will be closely monitored by the cryptocurrency community, as it has the potential to reshape the future of decentralized finance and cross-chain collaboration. In the meantime, developers are also excited about the collaboration between Web3 Data Lake, query engine Subsquid, and Solana-powered Neon EVM, which aims to provide easier access to on-chain data for dApp developers.
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