Providing tools to developers for building a wide range of next-gen dApps on Bitcoin, the BSquared Network-Portal integration will drive the growth of tokens and applications developed on the Bitcoin blockchain.
SAN FRANCISCO, Feb. 28, 2024 /PRNewswire-PRWeb/ -- B² Network, the first Bitcoin rollup based on zero-knowledge proof verification, today announced a new integration with Portal, the first trust-minimized, Layer 2 cross-chain swaps that involve no bridges, custody or wrapping. The partnership will enable B² Network's native token and other BRC-20s and Bitcoin-based tokens from the B² ecosystem to be available in the Portal DEX Network and with other Portal ecosystem partners that integrate the Portal Swap SDK.
"Our vision is to establish a realm where Bitcoin isn't just a digital asset, but a dynamic platform on which various financial services, tools and platforms can be built," said pseudonymous "JJ," partner at B². "With our ecosystem tokens seamlessly available on the Portal DEX Network and partner marketplaces, we are one step closer to realizing our dream."
Zero-knowledge proofs (ZKPs) are cryptographic protocols that allow one party to prove the veracity of a piece of information to another party without revealing any data from that particular information piece. ZKPs have become very popular among developers for providing enhanced privacy and security and improving scalability and interoperability.
Fresh off last month's fund raise from HashKey Capital, OKX Ventures, IDG Capital, KuCoin Ventures, Waterdrip Capital, ABCDE Labs and others, B² Network built the first ZKP verification commitment rollup on Bitcoin. Its Layer 2 solution enhances transaction speed and supports a diverse range of applications without sacrificing security. The network's vision is to accelerate innovation on the Bitcoin platform through the development of applications, such as DeFi, NFTs and other decentralized systems. B² Network is designed for compatibility with the Ethereum Virtual Machine (EVM), a core piece of Ethereum that helps power the blockchain and smart contracts, so it can work seamlessly with the plethora of EVM-compatible chains. This lowers the barrier of entry to developers who are looking to build applications using the B² solution.
With this new integration, the Portal DEX Network will now support B² Network's native token after TGE (Token Generation Event) as well as other BRC-20s and Bitcoin-based tokens that are part of its ecosystem. Simultaneously, the B² ecosystem will have access to Bitcoin, Ethereum, Arbitrum, Base and other major Layer 2 ecosystems through Portal Swap SDK. This allows B²'s community members to make cross-chain swaps of assets with a single click without using bridges or paying exorbitant transaction fees.
"We're excited to have B² Network being able to leverage Portal's atomic swaps technology to provide enhanced liquidity to their assets," said Chandra Duggirala, co-founder and CEO of Portal. "Portal and B² Network are united by a common aim of providing tools to developers so they can build next-gen dApps on Bitcoin. This integration will go a long way towards increasing the visibility of B² and attracting more developers to use their technology, enabling a wide range of applications on the Bitcoin platform. It will also further drive the growth of tokens and applications developed on the Bitcoin blockchain, but without risking user funds or introducing custodial risk."
Portal partners utilizing the Portal Swap SDK, such as wallets, bridges and other protocols, will also have access to the B² Network of ecosystem-based tokens. Through this vast network, those users will be able to buy or sell B² tokens with BTC or tokens on other chains, natively and safely, through a single-click transaction. This integration will also encourage more users to participate in the preview version of B² Buzz, which allows users to mine B² Network native tokens by bridging assets across chains and receiving yields along with other ecosystem rewards.
About Portal
PortalDeFi.com, established by seasoned Bitcoin and AI engineers, is committed to promoting financial self-sovereignty. The Portal DEX Network utilizes atomic swaps technology to be the first-and-only noncustodial cross-chain liquidity solution for safe, one-click trades of native BTC and Bitcoin-based tokens against native tokens on other EVM chains. Built on Bitcoin, it rivals the efficiency of centralized exchanges while removing the risks of bridges, wrappers, and CEXs. A pioneer and an advocate for free and unfettered markets, Portal was founded in 2019 in the San Francisco Bay Area. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io and many other prominent fintech/crypto investors. For more information, visit https://portaldefi.com.
About B² Network
B² Network is the first Bitcoin rollup based on zero-knowledge proof verification. This Layer 2 solution enhances transaction speeds and broadens application diversity, all without compromising security. Currently, the B² testnet is being upgraded from the alpha testnet (Mystica) to the beta testnet (Haven). For more information, visit https://bsquared.network.
Media Contact
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SOURCE BSquared Network
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