Avalanche blockchain has announced support for bridging native bitcoin to Avalanche through the Avalanche bridge.
The solution seeks to tap more than $500 billion on the bitcoin network for use within the Avalanche DeFi network and further expand the available offerings.
Avalanche bridging allows bitcoin holders to directly access extensive earnings and yield opportunities on top of DeFi protocols while maintaining the BTC on their portfolio.
The new BTC Bridge comes with a new Intel Software Guard Extension application for supporting cross-chain transfers of BTC, expanding the Warden set from 4 to 8 and approval structure from 6 to 8.
BTC bridging can be accessed through a downloadable core browser extension. The bridging is not supported on MetaMask and other wallets.
Avalanche bridge was unveiled in August last year to enable fast and secure transfers of ERC20 assets between the Ethereum and Avalanche protocols.
The bridge has enabled a fast growth pace of the Avalanche DeFi network and has completed over $50 billion in transfers in less than one year since its debut.
Source: Medium