Bitcoin and Ethereum Live on Multiversx: Transferable at Near-Instant Speed, $0.001 Cost and Usable in DeFi Applications
Support for the two most popular digital assets has been enabled on the MultiversX Bridge (Ethereum), allowing them to benefit from the MultiversX's high-speed, low transaction fees and unique innovations.
The extended interoperability will mean that BTC and ETH can access from the same level of convenience as EGLD and ESDTs, and enable DeFi protocols and other ecosystem products the possibility to integrate them and create new opportunities for users within the ecosystem.
Both assets are ready and available on the mainnet, prefixed with a “w” to reflect that they are wrapped as ESDT tokens on the MultiversX Network.
Technical ESDT properties:
AssetESDT NameESDT TickerESDT IDBitcoin (BTC)WrappedBTCwBTCWBTC-5349b3Ethereum (ETH)WrappedETHwETHWETH-b4ca29
Important to mention: starting today, xPortal will have two versions of both BTC and ETH, native to the network and ESDT, differentiated via token logo & name. The native ones don’t operate on the MultiversX Network, while the ESDT ones brought over via the bridge are and benefit from the network performance and ecosystem opportunities.
Bridge BTC & ETH liquidity from Ethereum to MultiversX
- Head to: https://bridge.multiversx.com/
This is the domain that points to the MultiversX Bridge interface. With it, cross-chain transfers are as easy as they can get.
2. Connect your source wallet
Use Metamask to connect with the address you are transferring the assets from. A list with the available tokens for bridge transfers is displayed after you connect, together with their respective balance.
3. Connect your destination wallet
This is the address where you will receive the tokens once the transfer is completed.
4. Confirm asset transfer
Select the token you want to transfer, enter the amount and proceed with signing the transaction.
5. Wait for the transfer to finalize
After signing the transaction, the bridging process begins and the displayed window changes as the process advances to let you know the current status of the transfer. The average time for Ethereum - MultiversX bridge transfers is 10-15 minutes.
Tip: real time bridge transfer or historical ones can also be checked by clicking on ‘Explore Swaps’ and entering the transfer details.
HypergrowthX in motion
The upcoming months are for expansion on all fronts for MultiversX. From users & devs onboarding, protocol upgrades and new products, as outlined in the HypergrowthX battle-plan, to interoperability with new chains and assets enabled by the MultiversX Bridge and other work in progress integrations with major infrastructure players.
The free flow of BTC & ETH to MultiversX is an important step forward meant to significantly increase ecosystem liquidity, exposure and accessibility, as we expect them to be rapidly integrated into multiple protocols and stand as the prerequisite for many new creative opportunities.
Lucian Mincu, co-founder and CIO of MultiversX, is a self-taught tech prodigy, previously engineer at Uhrenwerk 24, Cetto, and Liebl Systems. and co-founder & CTO of MetaChain Capital. His ability to navigate complex challenges and carve out solutions is nothing short of extraordinary, making him a driving force behind the success of MultiversX.
