Interlay introduces new protocol for Bitcoin’s reciprocal relationship with DeFi

Cointelegraph

Published Apr 07, 2022 09:51AM ET

Updated Apr 07, 2022 11:40AM ET

Interoperability network Interlay has released a 21-page technical whitepaper, titled XCC: Theft-Resilient and Collateral-Optimized Cryptocurrency-Backed Assets, advocating for the imminent development of cross-blockchain interoperability solutions to unlock a plethora of potential within the decentralized finance (DeFi) ecosystem.

As a Polkadot (DOT) parachain, Interlay is focusing its efforts on opening pathways of communication and interaction between Bitcoin’s currency-native ecosystem and the wider functionalities of the DeFi space with networks such as Ethereum (ETH) and Polkadot.

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