Tap Protocol Launches Bitcoin-Native Smart Contracts with Chain Fusion Tech

Aug 13, 2024, 04:32 PM

Tap Protocol has achieved a significant milestone in Bitcoin development by executing the first-ever Bitcoin-native smart contracts, swaps, and liquidity pool directly on the Bitcoin L1 mainnet. This development, leveraging Chain Fusion technology, marks an important advancement for Bitcoin's integration into decentralized finance (DeFi) and enhances its capabilities in the blockchain ecosystem. The Internet Computer Protocol (ICP) has also introduced threshold-Schnorr signatures, which further boost Bitcoin's compatibility and security. These technological advancements are expected to open new possibilities for Bitcoin, including the ability to etch Bitcoin Runes, inscribe Ordinals, bridge BRC-20 tokens, and sign taproot transactions.