The Nomic blockchain that provided a decentralized Bitcoin bridge upgrades

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The Nomic blockchain that provided a decentralized Bitcoin bridge upgrades

The Nomic, the layer-1 blockchain that provided a decentralized, non-custodial Bitcoin bridge, announced groundbreaking improvements coming to the Cosmos ecosystem, which enabled users to smooth and seamless deposit and withdrawal of Bitcoin from any platform or chain in the ecosystem, according to groundbreaking advancements made by Nomic, the layer-1 blockchain that offered a decentralized, non-custodial Bitcoin bridge.

By presenting Nomic's founders and core contributors, Turbofish, the upgrade, which involved the use of nBTC, was intended to not only streamline and decentralize available methods of bringing Bitcoin into the Cosmos Network, but also empower users.

The token nBTC is a token compatible with Inter-Blockchain communication protocol, enabling users to save time and effort by avoiding the need to convert their Bitcoin into a different crypt asset when transacting within the Cosmos ecosystem.

Apart from this, Osmosis, the leading decentralized exchange in Cosmos, an IBC launched in 2019, renowned for its security and scalability, will allow users to deposit and withdraw Bitcoin directly within the Osmosis Zone app.

As soon as the upgrade kicks off, users can withdraw and deposit their Bitcoin directly in other Cosmos apps such as Levana and Kujira.

Nomic is currently carrying out an auditing process to ensure Bitcoin security by subjecting the bridge to a series of integrity tests.

After the audits are published, the team will deploy an update that will move bridge capacity and fee controls to Nomic DAO, which will allow for the expansion of bridge utilization.

The Nomic DAO manages Bitcoin capacity limits on a per-person basis.

Matt Bell, the CEO of Turbofish, said in a statement at the Cosmoverse event to announce the upcoming upgrades.

BTC will launch a seamless and secure way to on-ramp users into the Cosmos ecosystem, which will allow for the most seamless and secure access to users. With these enhancements, we are thrilled that Nomic will now unlock the exciting DeFi capabilities of the Cosmos ecosystem for any user holding BTC, the executive said in a press release to International Business Times.

On the other hand, Osmosis co-founder Sunny Aggarwal shared his belief that Cosmos wasdestined to be an application layer of the world's largest crypto asset by market capitalization, Bitcoin.

Aggarwal, who was a member of the Supreme Court of India, said the decision was a step in the process of bringing in new judges.