Cross-Chain Transactions

Enhancing WBTC Interoperability with LayerZero's OFT Standard

Wednesday. September 11 at 4:00 AM

1 min. read

Cryptocurrency custody platform BitGo has integrated LayerZero’s Omnichain Fungible Token (OFT) Standard for its Wrapped Bitcoin (WBTC), allowing the token to function across various blockchain networks. BitGo is introducing WBTC on Avalanche and BNB Chain, expanding to more chains in the future. Previously, WBTC was accessible on Ethereum, Base, Tron, and Polygon. WBTC is a tokenized form of Bitcoin (BTC) enabling users to utilize BTC in decentralized finance (DeFi) activities like trading and lending. Each WBTC is backed by Bitcoin at a 1:1 ratio. By adopting LayerZero’s OFT Standard, BitGo's WBTC can now operate under a unified framework, simplifying cross-chain transactions. BitGo will retain control over WBTC contracts and deployment, extending to over 80 chains. Transactions will be validated through a decentralized verifier network. This move follows BitGo's shift to a multi-jurisdictional custody structure, aiming to mitigate geographic risks.

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Advantages of Using Cryptocurrency for Cross-Border Payments

Tuesday. January 7 at 8:00 PM

On May 22, 2010, Laszlo Hanyecz made history by purchasing two Papa John’s pizzas with 10,000 Bitcoin, valued at $25 at the time but now worth $100,720. This event marked the beginning of cryptocurrency's potential for international money transfers. Traditional remittance methods are costly and time-consuming, with high fees and long processing times. Cryptocurrency offers a solution to these challenges, enabling faster and cheaper cross-border transactions. By using cryptocurrencies, individuals can avoid multiple layers of fees associated with fiat transfers, such as transfer fees, intermediary bank fees, and exchange rate margins. Crypto payments provide a more efficient alternative to traditional methods, offering lower costs and faster settlement times. Various examples illustrate the benefits of using crypto for international money transfers, showcasing its efficiency and cost-effectiveness compared to traditional banking services.

Cross-Chain Transactions

The Rise of Ripple and Rollblock in the Crypto Market

Saturday. January 4 at 8:00 PM

Ripple has experienced significant growth in recent months, driven by positive developments such as Donald Trump's victory and the launch of RLUSD. The potential adoption by Japanese banks and changes in SEC leadership have also boosted investor confidence in Ripple. Analysts predict a potential breakout for XRP, with key support levels at $1.95. Meanwhile, Rollblock is gaining attention for its unique blend of traditional gambling and blockchain technology, offering a wide range of games and sports betting options. The RBLK token, currently in its ninth presale stage, is expected to see a 100x return when it enters the open market. While Ripple may reach $20 in 2025, experts believe Rollblock could outperform it with an 800% rally in the next quarter. Both projects offer exciting opportunities in the evolving crypto market.

Cross-Chain Transactions

Sonic Labs Launches FTM to S Token Swaps via Gateway

Thursday. December 26 at 9:00 AM

Sonic Labs recently introduced the Sonic Gateway, enabling the conversion of FTM tokens from Ethereum to S tokens on the Sonic mainnet at a 1:1 ratio. The gateway also supports the transfer of EURC, USDC, and WETH. With 2.8 billion FTM tokens in circulation among 117,731 holders, Sonic, a new blockchain compatible with EVM, aims to process 10,000 transactions per second with block finality in under a second. The native S token shares the same supply as FTM and will have 190.5 million tokens distributed to incentivize ecosystem interactions. Sonic's TVL has surged to $62 million, with plans to introduce credit scores for digital wallets in the $11 trillion market. The Sonic Gateway ensures asset custody during network failures and offers a Fast Lane for instant transaction acceleration. Despite potential delays, users can expect efficient asset processing between Ethereum and Sonic networks.

Cross-Chain Transactions

Revolutionizing AI Agent Platform with Injective and Sonic Collaboration

Saturday. December 21 at 3:00 AM

Injective and Solana Virtual Machine (SVM) game platform Sonic have announced a groundbreaking collaboration to introduce the first cross-chain artificial intelligence (AI) agent platform. This innovative AI agent hub, powered by Sonic’s HyperGrid technology and the Inter-Blockchain Communication Protocol (IBC), will integrate Solana and Injective ecosystems. Developers will have access to tools for creating, deploying, and monetizing AI agents within the decentralized ecosystem. The initiative aims to bring fractional ownership and revenue sharing benefits to the marketplace. Leveraging technologies like Injective WebAssembly (WASM) and SVM explorer, the Smart Agent Hub will enhance the distribution and awareness of AI agents through platforms like Sonic X. The partnership with Sonic follows Injective's launch of a toolkit for creating AI agents and aligns with the growing interest in AI agents. Injective Labs plans to roll out the Smart Agent Hub in phases, starting with a testnet in Q1 2025.

Cross-Chain Transactions