The Cardano network is a milestone, with AnetaBTC citing the successful creation of cBTC, a form of BTC, on the Cardano network and a milestone in the ecosystem.
We’re excited to announce we’ve successfully minted cBTC on Cardano.
— anetaBTC
Wrapped BTC on Cardano and Ergo (@anetaBTC) March 4, 2023
CBTC, a BTC asset on Cardano, is similar to Bitcoin (wBTC) on ETH, but without a centralized custodian.
Securely mint cBTC on Cardano…
— anetaBTC
To mint cBTC, users must add their ADA address to the BTC TX metadata and deposit BTC, which will be processed and verified by anetaBTC. The cBTC will then be mint and sent to the user’s Cardano wallet.
Cardano is seeing an increasing development in its network, where according to the latest IOG stats there are 1,209 projects being built on Cardano.
refer : LINK
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