Zeus Network Enhances Bitcoin-Solana Bridge with Chainlink CCIP
Zeus Network has introduced a new way to move Bitcoin to Solana. They are using Chainlink CCIP and proof of reserve technology.This makes the process safer and more decentralized.
On May 20, Zeus Network rolled out this feature. It lets users transfer Bitcoin to Solana without relying on centralized systems. The zBTC token,backed 1:1 by Bitcoin,can now move between Ethereum,Base,and Solana. Users can verify the backing of zBTC tokens in real time. This is thanks to Chainlink’s Proof of Reserve.
Justin Wang, CEO of Zeus Network, says this is a big step. It tackles common security issues in cross-chain bridges. Many bridges are centralized, which can lead to risks like hacks.
with Chainlink CCIP, users can now transfer zBTC tokens across Ethereum, Base, and Solana. This is a significant progress for Bitcoin users who want to access Solana’s DeFi ecosystem. The integration also brings Bitcoin liquidity to Solana, enhancing its potential for growth.
Justin Wang, CEO of Zeus Network, believes this integration solves the issues with centralized bridges. “Wrapped BTC tokens often require KYC and involve third-party entities, taking control away from users. Our solution provides a truly decentralized experience,” he said.
Zeus Network is not alone in adopting chainlink CCIP. Ronin, a popular blockchain bridge, also moved to this standard in April. This move comes after Ronin suffered a $650 million hack in March 2022.The new system allows for real-time verification of zBTC tokens,backed 1:1 by Bitcoin. This makes it safer and more user-pleasant. “We are excited to unlock the vast liquidity potential for DeFi on Solana by leveraging Chainlink, powered entirely by bitcoin,” Wang added.
For more information, visit the Zeus Network website.
