RATE Group | These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It
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These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It

17 Aug These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It

Posted at 02:04h in Bitcoin News by

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Summa co-founder James Prestwich wants to bridge the great divide: bitcoin vs. ethereum.

Now his firm is teaming up with fellow blockchain startup Keep to launch the Cross-Chain Working Group, which aims to create a protocol for using bitcoin on ethereum-based systems.

The group hosted its first meeting on Thursday with more than 40 participants, including curious representatives from interoperability protocol Cosmos and Ripple’s investment arm, Xpring.

“The goal is to provide a platform for developers, other than those employed by a base chain, who work across chains,” Prestwich told CoinDesk.

He said nearly 10 other companies have applied to join this group making tools for developers to work across blockchains, although official membership is yet to be determined.

“It’s a wrapper but it’s a fully decentralized wrapper. I’d actually call it a new sidechain mechanism,” Matt Luongo, CEO of Keep’s parent company, Thesis, told CoinDesk. “It gives your…

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