Elastos, a prominent blockchain project, has unveiled BTC Oracle, a groundbreaking solution designed to facilitate cross-chain operability between every EVM-compatible blockchain and Bitcoin, marking a significant advancement in the field.
According to the Elastos team, the BTC Oracle represents a pivotal component of Elastos’s BTC L2, known as ‘BeL2,’ which stands as the premier BTC L2 solution enabling the direct development and management of Bitcoin-native smart contracts. The innovative BTC Oracle functions as a zero-knowledge proof data feed, furnishing real-time Bitcoin data to EVM smart contracts. Notably, a prototype of this technology is currently accessible, offering a demonstration of how stakeholders can leverage ELA staking to earn Bitcoin rewards.
Enhanced Interoperability with BTC Oracle
Elastos’ latest development, the BTC Oracle, heralds a new era of enhanced interoperability within the blockchain ecosystem. By seamlessly integrating EVM-compatible blockchains with Bitcoin, Elastos has pioneered a comprehensive solution that promises to revolutionize cross-chain operability.
Revolutionizing Smart Contract Development
The introduction of BTC Oracle underscores Elastos’ commitment to pushing the boundaries of blockchain technology. Through the BeL2 framework, developers gain unprecedented access to Bitcoin-native smart contracts, unlocking a myriad of possibilities for innovative applications and use cases.
Empowering Stakeholders with ELA Staking
With the availability of the BTC Oracle prototype, stakeholders are presented with a unique opportunity to participate in ELA staking and receive Bitcoin rewards. This innovative incentive mechanism not only promotes network participation but also fosters greater engagement within the Elastos community.
Conclusion
In summary, Elastos’ unveiling of the BTC Oracle marks a significant milestone in the realm of blockchain interoperability. By bridging the gap between EVM-compatible blockchains and Bitcoin, Elastos has positioned itself at the forefront of innovation, offering stakeholders unparalleled access to new opportunities and functionalities within the blockchain landscape.