Bitcoin

bitUSD

bitSmiley

<p>bitSmiley has announced its partnership with Omnity Network. Omnity is recognized as a leading Bitcoin cross-chain protocol, offering high security, low costs, and an excellent user experience. This announcement was made through official X account. This collaboration is a major leap forward for bitSmiley as the company pushes for innovation within the Bitcoin space.</p><h2 id="header-0">bitSmiley Plans Decentralized Stablecoin Launch on Bitcoin Mainnet</h2><p>bitUSD is already live on several Bitcoin Layer 2 solutions and it has largely stayed stable without too many de-pegging incidents. Based on this success, bitSmiley plans to release a new decentralized overcollateralized stablecoin directly on the Bitcoin mainnet. This means that by working with Omnity, the use of such sophisticated cross-chain solutions as the <a href="https://omnity.network/" rel="noopener noreferrer nofollow">Omnity</a> Hub Bridge that allows for the easy conversion between Bitcoin and other blockchains is guaranteed.</p><h2 id="header-1">bitUSD Unlocks New Financial Opportunities for BTC Holders</h2><p>The use of the Runes protocol is crucial in issuing bitUSD on the Bitcoin primary network. This makes bitUSD the first decentralized stablecoin backed by BTC on its native block chain. This will also make Bitcoin liquid, enable the owners of Bitcoin to use their <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">$BTC</a> in other endeavors such as transactions or as security to access loans without having to sell them. The decentralization of Bitcoin mainnet adds another layer of protection to these stablecoins as compared to those on other blockchains.</p><p>Ultimately, this partnership enhances the BTC ecosystem, for the provision of safe decentralized financial products and services within the mainnet.</p>

bitSmiley Partners with Omnity Network for Bitcoin Innovation

Table of Contents

BlockchainReporter

Other articles published on Nov 27, 2024

CHILLGUY meme coin could be at risk as smart money sells

If You Missed The Chance To Jump On Ethereum Train, You Have Another Chance with This Crypto for ...

Best Coins to Invest In for December 2024: Qubetics' $600K ROI Potential, Avalanche's Infrastruct...

New Bitcoin Holders Drive $2 Billion Daily Profit Taking While Veterans Hold Steady

MicroStrategy wipes $30B in biggest 4-day drop amid Bitcoin correction

XRP, ADA holders transition to new meme coin expected to rally 69,900% by 2025

Join our free newsletter for daily crypto updates!