{"id":428031,"date":"2022-04-07T16:51:33","date_gmt":"2022-04-07T13:51:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/interlay-introduces-new-protocol-for-bitcoins-reciprocal-relationship-with-defi\/"},"modified":"2022-04-07T16:51:33","modified_gmt":"2022-04-07T13:51:33","slug":"interlay-introduces-new-protocol-for-bitcoins-reciprocal-relationship-with-defi","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/interlay-introduces-new-protocol-for-bitcoins-reciprocal-relationship-with-defi\/","title":{"rendered":"# Interlay introduces new protocol for Bitcoin\u2019s reciprocal relationship with DeFi"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2c70c037169\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2c70c037169\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/interlay-introduces-new-protocol-for-bitcoins-reciprocal-relationship-with-defi\/#%E2%80%9D_Interlay_introduces_new_protocol_for_Bitcoins_reciprocal_relationship_with_DeFi_%E2%80%9C\" >&#8221; Interlay introduces new protocol for Bitcoin\u2019s reciprocal relationship with DeFi  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Interlay_introduces_new_protocol_for_Bitcoins_reciprocal_relationship_with_DeFi_%E2%80%9C\"><\/span>&#8221; Interlay introduces new protocol for Bitcoin\u2019s reciprocal relationship with DeFi  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZmYyNTU4N2YtMmQ2Zi00M2M0LTgxNTctZWI3ZjRmOTM2ZjJjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Interoperability network Interlay has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eprint.iacr.org\/2022\/113\">released<\/a> a 21-page technical whitepaper, titled <em>XCC: Theft-Resilient and Collateral-Optimized Cryptocurrency-Backed Assets,<\/em> advocating for the imminent development of cross-blockchain interoperability solutions to unlock a plethora of potential within the decentralized finance (DeFi) ecosystem.<\/p>\n<p>As a Polkadot (DOT) parachain, Interlay is focusing its efforts on opening pathways of communication and interaction between Bitcoin\u2019s currency-native ecosystem and the wider functionalities of the DeFi space with networks such as Ethereum (ETH) and Polkadot. <\/p>\n<p>The newly-launched XCC protocol \u2014 serving as an additional layer of XCLAIM, which was introduced to the market in 2018 \u2014 enables greater asset sovereignty during cross-chain activities such as wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing, as well as unifying Bitcoin multisigs with mechanisms typically native to the Ethereum network such as commit chains.<\/p>\n<p>To uphold the purported benefits of risk aversion and capital efficiency, the XCC asset will only be available within curated DeFi applications, however, users have the freedom to transition to the interBTC product if they require greater flexibility. Both services will exist in tandem with each other, expanding the capabilities of Bitcoin\u2019s DeFi market to a wider consumer audience. <\/p>\n<p>According to their assessment, XCC ensures that \u201cany Bitcoin that is staked long-term and is not intended to be moved can essentially &#8220;release&#8221; its collateral,\u201d and that this can then be \u201creused to secure other, &#8220;liquid&#8221; BTC being bridged\u2026 allowing for vaults to serve more users with the same collateral.\u201d<\/p>\n<p>Interlay co-founder &amp; CEO Alexei Zamyatin shared his vision for the future of XCC in terms of decentralized adoption as well as a security enhancement, stating:<\/p>\n<blockquote><p><strong> <\/strong>\u201cinterBTC, aiming to become the equivalent of DAI for BTC, already decentralized Bitcoin custody. However, the goal always was to achieve non-custodial BTC DeFi \u2014 a very hard problem to solve. XCC sets a milestone in this regard, finally enabling theft resilient and easy-to-use Bitcoin DeFi.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: Interlay aims to advance Bitcoin\u2019s DeFi potential with new interoperable bridge<\/em><\/strong><\/p>\n<p>A previous recipient of a Web3 Foundation grant, Interlay announced progressions to their wrapped Bitcoin (wBTC) digital asset, kBTC, in mid-March, deploying the token onto their canary parachain Kintsugi. <\/p>\n<p>Already supported on the Polkadot native parachain protocols Karura and Moonriver, the move instigates their preparations for upcoming deployment across Cosmos and Ethereum sometime within the calendar year.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/interlay-introduce-xcc-protocol-to-enhance-bitcoin-s-reciprocal-relationship-with-defi\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Interlay introduces new protocol for Bitcoin\u2019s reciprocal relationship with DeFi &#8220; 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZmYyNTU4N2YtMmQ2Zi00M2M0LTgxNTctZWI3ZjRmOTM2ZjJjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,112348,74983,74868,75168],"class_list":["post-428031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-chain","tag-decentralization","tag-defi","tag-polkadot"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=428031"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428032"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}