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Oraichain Unveils OraiBTC Subnet Beta for Seamless Bitcoin Integration

source-logo  thenewscrypto.com 20 March 2024 15:08, UTC

The much awaited beta launch of OraiBTC Subnet is set to occur on March 19, according to Oraichain, a pioneer in the integration of blockchain technology with artificial intelligence.

With this breakthrough, Bitcoin (BTC) will be included into the Oraichain ecosystem for the first time, providing a decentralized bridge for easy deposits and withdrawals of BTC.

Users may straight away swap the asset for ORAI tokens and bridge BTC between the Oraichain and Bitcoin networks in both ways thanks to the Subnet, which is meant to make it easier to move Bitcoin into and out of the Oraichain network. It will eventually make it possible for BTC to be transferred via IBC to several protocols within the Cosmos Ecosystem.

Usability has been prioritized, and the previously described features are available via the OraiDEX website and OWallet browser. With this integration, developers will be able to create dApp experiences that are quicker and more powerful—especially for users of the most valuable and well-known cryptocurrency in the world.

Before the platform’s official release to the public, users will have the chance to actively contribute to its feature refinement via the OraiBTC Subnet Beta launch. To further enhance the launch’s enthusiasm, attendees could also get a unique surprise as a thank you for their participation.

Built upon the sturdy foundation of Nomic’s architecture, OraiBTC utilizes sophisticated Bitcoin functionalities like Taproot and Schnorr signatures, in addition to a specialized validator group, guaranteeing the highest level of security and integrity for bridging assets.

In Oraichain’s goal to become the preferred Layer-1 platform for AI-powered decentralized apps (dApps), the launch marks a significant step forward. The platform provides more variety and innovation possibilities, and it greatly widens the addressable market for AI dApp developers by integrating Bitcoin into the Oraichain toolkit.

A crucial part of Oraichain’s Mainnet 3.0 upgrade, which has made significant adjustments to improve performance and interoperability, is the introduction of OraiBTC. With its latest block time reduction to around one second, Oraichain is now among the fastest networks in the Cosmos ecosystem and beyond.

Right now, the Oraichain team is concentrating on expanding its ecosystem, which involves establishing GPU Staking. The Oraichain Foundation sees GPU Staking as an innovative way to guarantee that the value created by growing AI service needs directly benefits holders of ORAI tokens, in addition to huge expenditures in GPUs to support the AI apps running on the Oraichain mainnet.