Solana-To-Bitcoin Cross-Chain Bridge To Launch In Q3 2024

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Source: Solana

A Solana-to-Bitcoin cross-chain bridge is expected to launch in the third quarter of 2024. The Zeus Network will launch its Zeus Program Library (ZPL) that connects the two ecosystems by Q3 2024.

“These ZPL-Assets unlock a world of opportunities on Solana,” Zeus Network wrote on Medium on May 1. “Facilitating activities like DeFi, GameFi, SocialFi, DePIN, and more, which were previously challenging on the Bitcoin blockchain.”

The Zeus Program consists of a set of Solana Virtual Machine (SVM) programs that enable developers to integrate native Solana support into decentralized applications. In turn, these programs power transactions across multiple blockchains. The ZPL assets, according to the Zeus Network, can take the form of cryptocurrencies or NFTs. Furthermore, the network is backed by Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali.

Source – Forbes

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In addition, the Zeus Network added in their release: “With a market cap of approximately 1.2 trillion dollars, and over 11,000 Runes generating over $135 million in fees within the first week on the Bitcoin blockchain, the potential for value transfer is immense.”

Subsequently, the Solana-Bitcoin bridge will work by allowing users to deposit their Bitcoin and in return receive ZPL-wrapped zBTC tokens. These tokens can be used to take part in decentralized exchanges, NFT marketplaces, borrowing, lending, gaming, and SocialFi within the Solana ecosystem.