Zeus Network uses the secure Chainlink CCIP and proof of reserve to Bitcoin in a decentralized manner to Solana to play bridge.
More and more companies are taking steps to develop cross-chain bridges. On Tuesday, May 20, Zeus Network, a communication platform for Bitcoin and Solana, integrated the Chainlink CCIP. This widely accepted standard now allows users to securely move Bitcoin to Solana.
With this development, users can now easily move Zeus’ Bitcoin-backed token, zBTC, across Ethereum, Base, and Solana. Each zBTC token is backed 1:1 by Bitcoin, and users can verify this collateral in real-time using Chainlink’s Proof of Reserve.
Justin Wang, founder and CEO of Zeus Network, emphasizes that this integration is crucial to addressing the persistent security issues surrounding cross-chain transfers. Often, cross-chain bridges are centralized, exposing users to risks such as hacks and rug pulls.
“Wrapped BTC tokens are flawed because they are not decentralized — many of them still require KYC, have third parties involved in trading, and ultimately take away control from the user. The Chainlink standard allows us to solve these problems and provide an improved experience for our users,” says Justin Wang.
Wang emphasizes that this integration provides Bitcoin users with a decentralized way to access DeFi on Solana, while also bringing Bitcoin liquidity into the Solana ecosystem.
“zBTC provides users with a truly decentralized Bitcoin asset that is compatible with the Solana ecosystem and can now be easily moved between the most widely used chains thanks to our integration of Chainlink CCIP. We are excited to unlock the massive liquidity potential for DeFi on Solana by leveraging Chainlink, powered entirely by Bitcoin,” said Justin Wang.
Zeus Network isn’t the only company to recently integrate Chainlink CCIP. In April, Ronin, one of the most popular blockchain bridges, ported its old bridge to Chainlink’s standard. This is notable, especially since Ronin was previously the victim of a $2022 million hack in March 650.
“Blockchain is not just about technology, it is also about trust. And that is exactly what this means.”
With these revolutionary steps and innovations, the future of crypto ecosystems is more exciting than ever. Do you dare to take this journey with us? Let’s explore the boundaries of what’s possible together!
What is the role of Chainlink CCIP in the Zeus Network?
Chainlink CCIP provides a secure and decentralized way to move Bitcoin to Solana, allowing users to easily trade their assets between different blockchains.
How is the zBTC token backed?
Each zBTC token is backed 1:1 by Bitcoin, meaning that every token issued is backed by an equal amount of Bitcoin. Users can verify this backing in real-time.
What makes zBTC unique compared to other Bitcoin tokens?
zBTC is fully decentralized and does not require KYC, allowing users to retain full control over their assets without any third parties involved in trading.