According to PANews, the Bitcoin infrastructure project Bitlayer, which aims to advance BTC DeFi, has successfully migrated to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This migration establishes CCIP as Bitlayer's standard cross-chain infrastructure.
The integration now facilitates secure transactions between Bitlayer and Ethereum, involving Bitlayer's native token BTR, as well as USDC, USDT, ETH, and wstETH. The next milestone for Bitlayer is to achieve cross-chain nativeization of YBTC through CCIP, transforming YBTC into a decentralized multi-chain yield-bearing wrapped Bitcoin token.
BitVM represents a significant step in expanding Bitcoin's capabilities beyond its primary use as a digital currency. Utilizing the revolutionary BitVM paradigm, Bitcoin contracts can express Turing completeness through positive verification schemes. YBTC enables Bitcoin holders to mint native representations of BTC in a decentralized manner, with Chainlink CCIP serving as a crucial component for YBTC's multi-chain deployment.
