New York, NY, March 20th, 2024
Oraichain Announces Beta Launch of OraiBTC Subnet: Seamless Integration of Bitcoin into the Oraichain Ecosystem
Oraichain, a trailblazer in the fusion of artificial intelligence (ai) and blockchain technology, has announced the highly anticipated Beta launch of its OraiBTC Subnet on March 19, 2024. This development marks the first time Bitcoin (BTC) will be integrated into the Oraichain ecosystem, offering a decentralized bridge for effortless BTC deposits and withdrawals.
Facilitating Easy Transfer of Bitcoin into and out of the Oraichain Network
The Subnet has been designed to simplify the process of transferring Bitcoin into and out of the Oraichain network. Users will be able to directly swap BTC for ORAI tokens or bridge Bitcoin between the Oraichain and Bitcoin networks in both directions. In the future, it will also enable the transfer of BTC via Inter-Blockchain Communication (IBC) to various protocols within the cosmos Ecosystem.
Empowering Developers and Creating Faster dApp Experiences
The integration of BTC into the Oraichain ecosystem emphasizes ease of use. Users can access these functionalities via the OraiDEX Website and OWallet browser. This development will empower developers to build more powerful decentralized applications (dApps), particularly for holders of the world’s most renowned and valuable cryptocurrency.
Active User Participation and Special Surprises
The OraiBTC Subnet Beta launch offers an opportunity for users to actively participate in refining the platform’s features before its full public release. As a token of appreciation for their involvement, participants may receive a special surprise, adding an extra layer of excitement to the launch.
Advanced Security and Integrity for Bridged Assets
Built on Nomic’s robust foundation, OraiBTC utilizes advanced Bitcoin features such as Taproot and Schnorr signatures and a dedicated validator set to ensure the highest level of safety and integrity for bridged assets.
Expanding Oraichain’s Mission: A Go-To Platform for ai dApps
The integration of Bitcoin is a significant step towards Oraichain’s mission to become the leading layer-1 platform for ai-powered decentralized applications. By incorporating Bitcoin into its toolkit, Oraichain expands the addressable market for ai dApp builders and offers greater versatility and potential for innovation.
Mainnet 3.0 Upgrade: Speed, Interoperability, and GPU Staking
The introduction of OraiBTC is a key component of Oraichain’s Mainnet 3.0 upgrade, which includes major improvements to enhance speed and interoperability. Recently, Oraichain has reduced its block time to approximately 1 second, placing it amongst the fastest networks in the cosmos ecosystem and beyond.
About Oraichain
Oraichain is a permissionless Layer 1 platform for ai-powered decentralized applications, designed to deliver multidimensional Trustworthy Proofs of ai and data reliability. With its ai Oracle at the core, Oraichain offers a decentralized system for the delivery of ai-generated data to smart contracts, ensuring transparency for developers and consumers.
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