DeFi

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/efforts-build-ecosystem-for-payments-rwa-and-defi-on-bitcoin-network/" data-wpel-link="internal">Efforts Build Ecosystem for Payments, RWA, and DeFi on Bitcoin Network</a> 
Ongoing efforts are being made to establish an ecosystem for payments, RWA, and DeFi on the Bitcoin network. Why is this significant? The Bitcoin network, secured by a vast mining community, serves as the most reliable and decentralized <a href="https://en.coin-turk.com/indias-national-web-browser-project-advances-with-blockchain-integration/" data-wpel-link="internal">blockchain</a> structure. Therefore, it can be stated that protocols operating on this network are built on much sturdier foundations. This is precisely why the work continues. 
<h2 style="text-align: justify" id="plasma-and-the-bitcoin-ecosystem">Plasma and the Bitcoin Ecosystem</h2> 
The scaling solution Plasma, supported by Bitfinex, is currently striving to create payment and financial infrastructure on the Bitcoin network. The team has been working for a long time on a protocol that will operate without requiring any changes to the Bitcoin core. In today’s announcement, they stated: 
<blockquote> 
 “The current payment sector—especially cross-border payments—struggles with hidden fees, value-extracting intermediaries, and local inefficiencies. Moreover, it is extremely capital-intensive. Payments supported by stablecoins have the potential to improve efficiency and offer near-zero fee, real-time cross-border transactions. 
 Bitcoin is the world’s largest, most decentralized, censorship-resistant, and secure blockchain. This makes it an obvious option to replace existing global payment systems. There have been previous attempts to make Bitcoin a settlement layer for payments; however, these initiatives have only focused on BTC as the primary payment asset. While Bitcoin is the best blockchain for large-scale payments, we believe that the majority of payment flows will be in USD-denominated assets, primarily USD₮.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-398406 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/plasma.png" alt="" width="926" height="487"> 
Supported by Bitfinex, Christian Angermayer, Split Capital, Manifold, Anthos Capital, Karatage, and many others, we may hear more about this protocol in the future. 
The post <a href="https://en.coin-turk.com/efforts-build-ecosystem-for-payments-rwa-and-defi-on-bitcoin-network/" data-wpel-link="internal">Efforts Build Ecosystem for Payments, RWA, and DeFi on Bitcoin Network</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Efforts Build Ecosystem for Payments, RWA, and DeFi on Bitcoin Network

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