At Orbit Chain, we believe that blockchains need to be interoperable in order to function at their best. Today, we are excited to announce our new integration with Stacks, the layer-1 blockchain solution that brings smart contracts and decentralized applications (DApps) to Bitcoin.
Through this integration, Stacks will leverage Orbit Chain’s cross-chain interoperability to ensure the safe and reliable transfer of assets and data stored on the Stacks blockchain to other connected blockchains in the Orbit ecosystem.
With Bitcoin being the king of all blockchains, Orbit Chain will effectively be building the bridge between Stacks’ Bitcoin-connected blockchain and Orbit Chain’s growing ecosystem of public blockchains. By stitching these blockchains together, this will further the functionality of Bitcoin via smart contracts and applications while also creating unity in the fragmented and dissociated blockchain world.
Earlier this year, Stacks successfully launched its mainnet, Stacks 2.0. Its master design solves two long-standing problems with Bitcoin (a) scalability of transactions and (b) enabling smart contracts without modifying the main Bitcoin blockchain itself. Since then, several startups have emerged through Stacks and are now actively expanding the Bitcoin-based ecosystem by building DeFi, NFT, and Web3 applications.
The formation of DeFi economy in the Bitcoin ecosystem is closer than ever as DeFi Startups in the Stacks Ecosystem such as Arkadiko, ALEX, and more are launching their mainnet this Q4 of which Orbit Chain will actively work together with Stacks to push the technological limitations of DeFi on Bitcoin and connect this newly found ecosystem to other thriving ecosystems existing on Ethereum, BSC, Klaytn and others.
With a tremendous track record for bridging crypto ecosystems, this integration with Orbit Chain will lay the foundation for creating a high liquidity environment for popular DeFi platforms in Korea, which fosters the largest Stacks community and accounts for more than 60% of Stacks overall trading volume. The integration is set to be live in Q2 of 2022.
About Orbit Chain (Orbit Bridge)
Orbit Chain is a multi-asset hub blockchain that stores, transfers, and verifies information and assets which exist on various public blockchains through decentralized Inter Blockchain Communication (IBC).
Orbit Bridge is the cross-chain IBC protocol based on Orbit Chain. It currently connects various mainnets and has supported the cross-chain bridging of more than $3.5 Billion worth of assets.
Orbit Chain currently supports 11+ public chains including Bitcoin, Ethereum, Binance Smart Chain, Huobi ECO Chain, Polygon, Ripple, Klaytn, ICON, and Terra. Orbit Chain is committed to researching the interoperability of heterogeneous chains and further developing the DeFi ecosystem with better products and services. In doing so, Orbit Chain will create a more widespread audience and a stable blockchain ecosystem by allowing more dApp growth on various mainnets.
Ozys, the team behind Orbit Chain, is a company spearheading blockchain development in South Korea, working tirelessly to create unity in the fragmented and dissociated blockchain world. Working under the ethos of “Connecting the Unconnected,” Ozys’ projects utilize cutting-edge technologies to bridge different ecosystems together. Ozys is a member of the Klaytn Governance Council alongside multinational businesses and organizations including Binance, Huobi, MakerDAO, LG Electronics, and Kakao.
Stacks 2.0 is a layer-1 blockchain that connects to Bitcoin for security and enables decentralized apps and predictable smart contracts. Stacks 2.0 implements PoX mining that anchors to Bitcoin security. The platform is powered by the Stacks coin (STX), which is used for fueling the execution of smart contracts, processing transactions, and registering new digital assets on the Stacks 2.0 blockchain.
[Orbit Chain Official Sites & Communities]
Orbit Bridge: https://bridge.orbitchain.io
Orbit Chain : https://orbitchain.io
Orbit Chain Global Telegram: https://t.me/OrbitChainGlobal
Orbit Chain Twitter: https://twitter.com/Orbit_Chain
[Stacks Official Sites & Communities]
Stacks Website: https://www.stacks.co
Stacks Twitter: https://twitter.com/Stacks
Stacks Discord: https://discord.gg/XYdRyhf
Stacks Telegram: https://t.me/BlockstackChat