#Bitcoin DeFi and bridges mega thread📈🌉

1/10
There's $12.5 billion worth of #BTC deployed across chains... 2/10
Cross-chain #BTC is dominated by other L1s:
1. ETH
2. Tron
3. Binance chain

Less than 2% has found its way into #Bitcoin sidechains @rootstock_io @Stacks @InterlayHQ and @Blockstream Liquid

Roadmap analysis: @cosmos vs @Polkadot - next 6 months.

1/6 Today🔍

Cosmos: built IBC to connect non-shared security chains.

Polkadot: built shared security and XCM to connect between shared security chains.

Both IBC and XCM currently only work between "same-format" chains. 2/6 Under construction 🏗️

Cosmos: building shared security, likely learning from DOT's pros/cons.

Polkadot: extending XCM to work between independent substrate chains, likely learning from IBC
(Beefy light client, that also will enable trustless DOT-IBC and DOT-ETH bridges)

Millions have been raised for interoperability - via trusted bridges.

@wormholecrypto @MultichainOrg @axelarcore @CelerNetwork @nomadxyz_ @LayerZero_Labs and now @EclipseFND

Needed today - but temporary solutions⏳

A thread on the future of trustless bridges 🌉👇
1/12

https://twitter.com/EclipseFND/status/1574798769950007299

2/12
We have known how to build decentralized bridges for years💡

Light client <> Light client bridges are the future. No additional trust required, only trust the chains you interact with. 🎉

Problem: these take time to build...

But demand is higher than ever!