Bitcoin

Bitfinity Network

<p>Portal, the industry’s first custodyless cross-chain solution for Bitcoin, has partnered with Bitfinity Network, the next-gen Ethereum Virtual Machine (EVM) for Bitcoin. This newly formed partnership seeks to change how Bitcoin and other blockchains can easily connect to DeFi applications. As for now, Bitfinity combined its technology with Portal, a company that is trying to fill the gaps in the crypto sphere and increase the functionality of Bitcoin in the DeFi markets.</p><h2 id="header-0">What Makes This Partnership Significant</h2><p>Portal’s technology is geared toward cross-chain swaps with no intermediaries, where the asset is transferred from one blockchain to another without needing a third party. On the same note, <a href="https://bitfinity.network/" rel="noopener noreferrer nofollow">Bitfinity</a> presents a fast and expansible EVM-integrated Bitcoin network to unlock sophisticated smart contract solutions. Together, they are set to deliver a solution that would further enable the adoption of Bitcoin into <a href="https://blockchainreporter.net/defi/" rel="noopener noreferrer nofollow">DeFi-related sectors</a>.</p><p>This partnership is one of the significant steps towards successfully implementing the distributed ledger technology known as blockchain. For many years, the capability of Bitcoin as a DeFi asset was rather constrained by the inability to integrate it with other blockchains. This cooperation between Portal Cross-Chain Infrastructure and Bitfinity’s EVM Compatibility means that Bitcoin can easily run within the defi sphere, including getting loans, borrowing, and yield farming.</p><h2 id="header-1">Building Credibility with Strong Backing</h2><p>Both platforms are supported by professionals working in related fields. Portal has partnerships with Coinbase and <a href="https://blockchainreporter.net/tag/okx/" rel="noopener noreferrer nofollow">OKX</a> as its investors, whereas Bitfinity has sources from Polychain Capital and ParaFi Capital. Such financial and strategic support makes them credible in their endeavor to disrupt blockchain connectivity and, in the process, enhance Bitcoin adoption.</p><h2 id="header-2">Implications for the Blockchain Space</h2><p>This synergy will open up many possibilities for developers, companies, and people who use cryptocurrencies. It means that developers can create the EVM of Bitfinity and use the liquidity and security of Bitcoin simultaneously. For users, the integration strengthens the use of DeFi features without needing users to shift out of the Bitcoin domain, thus minimizing complications and vulnerability.</p><p>This move is an emerging trend toward the interoperability of the blockchain world. Integrating multiple platforms to work towards the solution of cross-hub has reduced the barriers of different blockchains. This trend helps create new ideas and provides fans of cryptocurrencies with new features for interacting with crypto financial assets.</p><h2 id="header-3">Shaping the Future of DeFi</h2><p>Together with Portal, Bitfinity has adequately demonstrated what the future of blockchain development will look like. In fact, by integrating <a href="https://blockchainreporter.net/bitcoin-price/" rel="noopener noreferrer nofollow">Bitcoin</a> into decentralized finance, they are exploring its untouched opportunities and promoting the use of decentralized financial ecosystems.</p>

Portal Joins Forces with Bitfinity to Bridge $BTC into the World of DeFi

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