Cryptocurrency

B2 Network Integrates with Portal to Increase Bitcoin dApp Development

San Francisco-based B2 Network, the first Bitcoin rollup to utilize zero-knowledge proof (ZKP) verification, has announced its integration with Portal, a leading decentralized cross-chain swap protocol.

This collaboration aims to make B2’s native token and other ecosystem assets available on Portal’s platforms, thus expanding B2’s visibility and promoting the development of decentralized applications (dApps) on Bitcoin.


TLDR

  • B2 Network has integrated with Portal to bring their native token and other BRC-20 tokens to the Portal DEX network
  • This will increase visibility and adoption for B2 Network’s technology to enable more developers to build dApps on Bitcoin
  • Portal will now support trading of B2’s tokens, allowing seamless cross-chain atomic swaps without bridges or custody
  • The integration provides B2 ecosystem participants access to assets across chains like Bitcoin, Ethereum, Arbitrum etc.
  • Users can now mine B2 tokens by bridging assets across chains and earn yields/rewards through the B2 Buzz program

As Bitcoin’s first ZKP rollup, B2 Network offers increased transaction speeds and supports diverse dApp functionalities without compromising the underlying security of Bitcoin. The network is designed to be compatible with the Ethereum Virtual Machine (EVM) for seamless integration with EVM-compatible chains. This makes it easy for developers to build on B2 using existing skillsets.

The integration with Portal will list B2’s native token on the Portal DEX post B2’s upcoming Token Generation Event. Other BRC-20 tokens from B2’s ecosystem will also be supported. In exchange, B2 Network participants will gain access to assets from chains like Bitcoin, Ethereum, Arbitrum etc. directly through Portal’s platforms.

The key innovation powering this collaboration is Portal’s use of atomic swaps. Unlike decentralized exchanges relying on wrappers or bridges, Portal utilizes atomic swap technology to enable trustless trading of native blockchain assets across chains.

For example, this allows direct trading of native BTC with native ETH or other tokens without conversions, custodial risk or liquidity fragmentation. The integration with B2 Network will extend this capability to their native assets.

According to Chandra Duggirala, Co-Founder and CEO of Portal, “We’re excited to have B2 Network leverage Portal’s atomic swaps to provide enhanced liquidity. This integration will increase B2’s visibility and drive more developers to use their technology to build dApps on Bitcoin.”

B2 Network was launched with the goal of transforming Bitcoin from a store-of-value into an engine for decentralized applications. To that end, it raised funds from major VCs like HashKey Capital last month. JJ, a partner of B2 Network, echoes a shared vision to innovate on Bitcoin:

“Our vision is to establish a realm where Bitcoin isn’t just a digital asset, but a dynamic platform on which various financial services, tools and platforms can be built. With our ecosystem tokens available on Portal, we are one step closer to realizing our dream.”

For Portal, deeper Bitcoin integrations also furthers their commitment to financial self-sovereignty. As a pioneer in trust-minimized products, Portal’s support for Bitcoin-based tokens promotes permissionless innovation on Bitcoin’s network.

The integration enables B2’s community members to utilize Portal’s platforms for simplified cross-chain swaps. Participants can now mine B2 tokens by bridging assets across chains and earn yields/rewards. This accessibility helps bootstrap liquidity for B2’s ecosystem.

B2 Network’s rollup technology unlocks scalability and expands usability for Bitcoin without compromising its underlying security. By bringing Bitcoin’s native assets onto Portal’s decentralized exchange, trustless cross-chain liquidity and swaps become a reality.

Their shared vision to spur permissionless innovation on Bitcoin makes this integration a natural fit. Developers building on B2 get simplified access to existing DeFi ecosystems while contributing to Bitcoin’s maturity through new financial use cases.

With solutions like ZKPs gaining more traction, Bitcoin’s recognition as the apex asset could expand into being the apex platform for global finance. Collaborations like B2 Network and Portal’s integration are key stepping stones to realizing that future.

The post B2 Network Integrates with Portal to Increase Bitcoin dApp Development appeared first on Blockonomi.

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