The secure Chainlink CCIP and proof of reserve are being utilized by Zeus Network to establish a decentralized bridge connecting Bitcoin to the Solana blockchain.
An increasing number of companies are introducing innovations in cross-chain bridge technology. On Tuesday, May 20, Chainlink CCIP was implemented by Zeus Network, a cross-chain communication layer between Bitcoin and Solana. This widely adopted protocol for bridging digital assets now allows Bitcoin to be transferred securely to the Solana network.
Zeus’s Bitcoin-backed token, zBTC, can now be transferred by users across Ethereum, Base, and Solana networks. Each zBTC token is fully backed on a 1:1 basis by Bitcoin, with real-time verification made possible through Chainlink’s Proof of Reserve mechanism.
According to Justin Wang, founder and CEO of Zeus Network, the integration is viewed as essential for resolving persistent security issues associated with cross-chain transfers. These bridges are frequently operated in a centralized manner, thereby exposing users to risks like hacks and rug pulls.
Wrapped BTC tokens are flawed because they aren’t decentralized — many of them still require KYC, have third-party entities involved in the trading, and ultimately take control away from the user. The Chainlink standard enables this to solve these issues and provide an enhanced experience for our users.
Justin Wang:
Bitcoin Liquidity Flows into Solana Ecosystem
It was emphasized by Wang that the integration provides Bitcoin users with a decentralized method for engaging with DeFi on the Solana network, while simultaneously introducing Bitcoin liquidity into the Solana ecosystem.
zBTC offers users a truly decentralized Bitcoin asset compatible with the Solana ecosystem, now able to be easily transferred across the most widely used chains thanks to our integration of Chainlink CCIP. We are excited to unlock the vast liquidity potential for DeFi on Solana by leveraging Chainlink, powered entirely by Bitcoin.
Justin Wang:
Zeus Network is not the sole company to have recently adopted Chainlink CCIP. In April, for example, Ronin—one of the most widely used blockchain bridges—transitioned its legacy bridge to Chainlink’s standardized protocol. Notably, Ronin experienced a $650 million security breach in March 2022.
