We are thrilled to announce that Bitcoin is now live on Router Nitro, our cutting-edge cross-chain bridge! This milestone marks a significant advancement, allowing users to seamlessly swap assets between the Ethereum blockchain and the Bitcoin network. Now, users can move assets from the Ethereum chain to BTC on Bitcoin, and from BTC to WBTC on Ethereum. This development enhances Bitcoin's utility and integrates it into the rapidly growing world of Web3 and decentralized finance (DeFi).
Start Swapping Now: Router Nitro Swap
Key Features of Router Nitro’s Cross-Chain Swap:
Cross-Chain Swap Enabled: Swap assets between Ethereum and Bitcoin networks with ease.
Supported Wallets: Use any EVM-compatible wallet for Ethereum-to-Bitcoin swaps. For Bitcoin-to-Ethereum swaps, XDEFI wallet offers the best experience.
Seamless Interoperability: Move BTC across chains and interact with DeFi App protocols using Bitcoin’s unparalleled stability.
Bitcoin’s Role in Web3 and DeFi
Bitcoin has long been regarded as digital gold, a store of value, and a symbol of resilience in the crypto currency world. However, its design as a non-programmable chain and its isolated infrastructure have prevented it from fully participating in the expanding Web3 ecosystem. The increasing need for interoperability between layer 1 blockchains has created a significant gap—one that Router Nitro is now addressing.
Bitcoin’s stability and liquidity are crucial for the growth of DeFi. As Vitalik Buterin highlighted in 2020, for Web3 to truly flourish, it must incorporate Bitcoin's foundational qualities. Router Nitro bridges this gap by enabling seamless cross-chain swaps, allowing Bitcoin to connect with smart contract chains and participate in the evolving blockchain protocol landscape.
How Router Nitro Powers Bitcoin’s Cross-Chain Journey
Router Nitro enables Bitcoin’s interaction with EVM-compatible networks while maintaining high levels of security and efficiency. Here’s how the process works for both directions of the cross-chain swap:
1. Bitcoin to Ethereum (EVM Flow)
Deposit BTC: Users deposit BTC on the forwarder address with a memo that specifies the destination chain and the expected token amount.
Monitoring and Execution: The forwarder and orchestrators monitor the transaction. Upon receiving the BTC,blockchain protocols the forwarder decodes the memo and executes a contract on the destination chain to transfer wBTC to the user.
Verification: Orchestrators vote on the transaction, sending information to Nitro’s middleware contract. Once completed, the transaction is verified and the assets are transferred.
2. Ethereum to Bitcoin Flow
Deposit wBTC: Users deposit wBTC on the source chain contract, signaling an intent to move assets to the Bitcoin network.
Transaction Execution: The forwarder then transfers BTC from its Bitcoin wallet to the user’s address.
Verification: Orchestrators vote on the transaction event, ensuring the transfer is executed according to the user's request and sending the information to Nitro’s middleware contract.
This process bypasses centralized custodians, ensuring users retain full control over their assets while making Bitcoin and other assets easily interoperable across chains.
A Trustless Future for Bitcoin
Bitcoin’s journey has been anything but straightforward. From its humble beginnings to becoming a dominant asset, Bitcoin has faced regulatory hurdles, market skepticism, and even internal conflicts. Despite these challenges, Bitcoin has endured, emerging as the bedrock of decentralized finance and blockchain protocols.
Today, Router Nitro takes Bitcoin further by enabling trustless transfers between Bitcoin and Ethereum. However, this is just the beginning. Our roadmap includes expanding interoperability to more layer 1 blockchains and developing solutions that will allow users to seamlessly transfer BTC to any token across chains.
Unlocking New Opportunities in Web3
The future of Bitcoin in Web3 is limitless. As we continue to develop cross-chain swaps and enhance Bitcoin’s capabilities, Router Nitro is committed to making Bitcoin an integral part of blockchain protocols and DeFi. This new integration will open doors for developers, platforms, and users to explore new opportunities within the decentralized ecosystem.
Start exploring the future of Bitcoin and cross-chain interoperability today with Router Nitro. Embrace the future of decentralized finance!