Now wrapped Bitcoin cBTC is available on Cardano (testnet)

After a couple of months, development resulted in good news for Bitcoin, in the Cardano ecosystem.

BTC, a BTC-pegged asset on Cardano, is similar to wrapped Bitcoin (wBTC) on ETH. Here cBTC is fully non-custodial, unlike wBTC. In April of this year, crypto Twitter user anetaBTC confirmed the successful minting test of BTC on the Cardano testnet blockchain. 

On 15 April 2023, Twitter user anetaBTC confirmed that cBTC now can be minted on the Cardano testnet.

Cardano founder & CEO of Cardano engineering team Input Output Hong Kong Global (IOG) Charles Hoskinson also shared his happiness on this Cardano milestone.

Cardano growth report 

The latest report on the Cardano network noted that 124 crypto projects have been launched in the Cardano smart contract ecosystem and 1225 projects building on Cardano. 

It is worth noting that Cardano engineers were working on Hydra, Cardano layer-2 scaling network, to push the Cardano network’s scalability to nearly 1 million TPS. Over the last 6 months, Cardano’s team never talked about Hydra or other layer-2 scaling networks. It seems that they paused or stopped their work on such techs. 

In March 2023, in an interview, Cardano’s founder said that the Cardano blockchain achieved high-level adoption in the NFTs sector as a big winner. He also said that in the next 10 years, the countries’ governments will use Cardano & other flagship blockchain networks at a practical level in the financial system.

Ada price action 

Ada is a native coin on the Cardano Blockchain network and the current trade price of ADA coin is $0.44 & this trade price is 13.67 high over the last 7 days’ trade price. 

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