By: Isha Das
The non-custodial Bitcoin (BTC) bridge Nomic is all set to facilitate the entry of Bitcoin into the Cosmos (ATOM) ecosystem. This move comes as part of a planned upgrade scheduled to occur on October 27th. Cosmos, a significant blockchain network with a market cap surpassing $2.5 billion, faces the unique challenge of lacking a decentralized method to integrate Bitcoin. Nomic offers a solution through nBTC, an IBC-compatible token pegged to BTC.
The release of nBTC Interchain Upgrade by Nomic aims for a frictionless, interoperable Bitcoin engagement within the Cosmos environment. This upgrade is expected to enable users to perform BTC transactions throughout the Cosmos network, thereby addressing the ongoing challenge of moving Bitcoin from its native blockchain to other networks.
Nomic's nBTC is also slated to launch on Osmosis, the decentralized exchange leader of Cosmos. This will allow users to manage Bitcoin deposits and withdrawals via the Osmosis Zone app. Furthermore, Nomic's nBTC will be usable on popular Cosmos applications like Kujira and Levana. Nomic is conducting a security audit on the bridge to ensure its safety before the upgrade rollout. Control of the bridge's capacity and fee management is also planned to be turned over to Nomic DAO — strengthening its overseeing capabilities related to the bridge's BTC capacity limits and overall development.
This integration is hence poised to offer the Cosmos DeFi ecosystem secure and uninterrupted access to BTC, while also establishing a symbiotic relationship between both environments.
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