Solana
Solana to Bitcoin Bridge Zeus Network Targets Q3 2024 Debut
Zeus Network announced the planned launch of Zeus Program Library (ZPL) by the third quarter of 2024. This new development aims to connect Solana (SOL) And Bitcoin (BTC) ecosystems transparently. The ZPL will allow developers to integrate Solana support into decentralized applications, thereby promoting activities on both blockchain networks.
The Zeus Network initiative will introduce ZPL assets, designed to be fungible or non-fungible. These assets aim to facilitate a range of digital interactions. This includes decentralized finance (DeFi), gaming finance (GameFi), and social finance (SocialFi) on Solana. Previously, it was difficult to implement them on the Bitcoin blockchain due to its structural limitations.
With an estimated market capitalization of $1.2 trillion, the integration has significant potential. In the first week, over 11,000 runes generated over $135 million in fees. This highlights the substantial activity and financial engagement within the Bitcoin ecosystem that ZPL aims to exploit.
Apollo protocol to enable Bitcoin-Solana transfers
The bridging protocol, Apollo, plays a crucial role in the ZPL framework. It allows users to deposit Bitcoin and receive zBTC tokens wrapped in ZPL in exchange. These tokens can then be used on various platforms within the Solana ecosystem. The platforms include decentralized exchanges and NFT Marketsas well as the lending, borrowing and gaming sectors.
Future expansions are in the works for ZPL-supported assets on Solana, involving Bitcoin runes and ordinals. These should be called zRuneX and zOrdX respectively. Additionally, Zeus Network plans to enable Bitcoin staking on its Apollo mainnet within the same time frame. These developments are expected to improve the flexibility and utility of digital assets on both blockchain networks.
Notable industry figures support Zeus Network’s technological advancements. Co-founder of Solana Anatoly Yakovenko and Stacks co-founder Muneeb Ali both support the project. Their support highlights the credibility and potential impact of the Zeus network within the blockchain community.
Zeus Network set to transform the use of blockchain
The launch of Zeus Network’s ZPL represents a significant step forward in bringing two of the largest blockchain ecosystems together. By enabling the seamless transfer and use of assets between Solana and Bitcoin, ZPL could catalyze further innovation and integration within the decentralized application space.
Recent developments in the Bitcoin ecosystem, such as the Bitcoin Runes and Ordinals, have revitalized its abilities. These protocols have expanded the functionality of the Bitcoin blockchain, allowing it to support a wider range of digital assets. For example, last month Orders Exchange integrated the Bitcoin Runes protocol. This integration enabled the issuance of fungible tokens on the native Bitcoin network.
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