Bitcoin on Cardano getting closer with testnet launch

The Cardano network seems to be slowly blossoming with more and more applications being launched on the blockchain. For example, AnetaBTC announced that it has finally launched the testnet for its wrapped bitcoin, which will eventually be available for use on both Ergo and Cardano. The project recently announced this.

Bitcoin on Cardano

Wrapping crypto makes it possible to use cryptocurrencies on other blockchain networks. For example, there are numerous wrapped cryptocurrencies that are based on Ethereum, so that, for example, you can use bitcoin within applications on Ethereum. Cardano is also getting more and more bridges to other networks.

AnetaBTC announced that its Ergo testnet is now live. Ergo is a different network than Cardano, but both networks are largely based on the same technology. However, it is reported that the launch on the Cardano network will not be long in coming.

The project run on its own basis roadmap a few months behind. According to the same roadmap, the launch of the testnet and mainnet on Cardano should take place in the next quarter. The introduction of wrapped bitcoin on Cardano can do it decentralized finance (DeFi) segment of the ecosystem.

Cardano news this week: stablecoin launch

There may be even more interesting cardano news to come this week. The long-awaited Djed stablecoin is reportedly set to launch. This stablecoin is algorithmic, like Terra’s UST, but is overcollaterized. That means there is much more in the reserves to keep the value of the stablecoin stable.

To attract liquidity to the new stablecoin, decentralized exchanges such as Muesliswap offer a yield of up to 25% in the first month, the exchange said in an update last week. Exactly when Djed will launch is as yet unknown.

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