Search results for Citrea
Crypto
Bitcoin utility boom fades? What Botanix shutdown raises for crypto
Bitcoin layer2 project Botanix has announced it will shut down, saying it did not work in the current market and at this point in time. A report said Botanix concluded efforts to make bitcoin programmable and integrated into real financial activity are not where ordinary users want them. Data show bitcoin on-chain DeFi remains far smaller than Ethereum. Developers said the shutdown does not mean bitcoin utility is dead, and argued for focusing on realistic products and existing liquidity.
Crypto
Charles Hoskinson says no dominant player in Bitcoin DeFi, sees opening for Cardano
Charles Hoskinson has pointed to Bitcoin DeFi (BTCFi) as a key growth area where Cardano can gain an early lead. He said no project currently dominates the competition and argued Cardano already has the right technology and a head start. The focus in BTCFi is bringing Bitcoin liquidity into DeFi while reducing reliance on centralised custodians and weak bridge designs. He also cited Cardano’s Midnight partner chain and recent atomic swap progress.
Crypto
Bitcoin layer2 Citrea launches mainnet, also releases stablecoin
Zero-knowledge-based Bitcoin layer2 Citrea launched its mainnet on Jan. 28, it said. The launch allows users to access services using various on-chain assets on the Bitcoin network. Citrea said it will focus on implementing core technologies including Bitcoin-based collateral use and structured asset services. It also released the ctUSD stablecoin to support swaps in its ecosystem, backed 100 percent by short-term U.S. Treasuries and cash and issued with MoonPay.
