The article discusses the emerging sector of BTCFi, which is transforming Bitcoin from a passive store of value into an actively utilized asset in DeFi. Bitcoin's security and liquidity make it an attractive foundation for innovation, despite historically lacking native smart contract capabilities. Elastos is highlighted as a key player, utilizing merged mining to leverage Bitcoin's security for decentralized applications. Its unique Elastic Consensus model enhances the security and scalability of financial services within the DeFi space, ultimately enabling Bitcoin holders to engage in various activities such as lending and stablecoin issuance without custodial risks.
Bitcoin's expanding role in DeFi marks a significant shift from its traditional status as a mere store of value, enabling diverse applications and services.
Elastos leverages Bitcoin's robust security through merged mining, providing a secure environment for decentralized applications and enhancing Bitcoin's utility in finance.
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