Bitcoin reserves promoter dlcBTC has integrated Chainlink to enhance cross-chain capabilities. This integration allows dlcBTC users to tap into the potential of DeFi while still having control over their assets. Chainlink, a leader in decentralized oracle networks, supports DLC.Link with its cross-chain capability to boost dlcBTC adoption. DLC.Link has also incorporated Chainlink’s Proof-of-Reserve (PoR) on the Arbitrium mainnet to increase transparency in the reserves supporting dlcBTC.
The collaboration between DLC.Link and Chainlink brings several benefits to dlcBTC users. With Chainlink PoR, users can rest assured that every unit of dlcBTC is backed by sufficient Bitcoin collateral, eliminating the risk of over-issuance. Additionally, by leveraging Chainlink’s Cross-Chain Interoperability Protocol (CCIP), dlcBTC users can easily transfer their assets between the Arbitrum and Ethereum blockchains, enabling seamless navigation of the DeFi ecosystem.
DLC.Link’s strategic partnership with Chainlink ensures the security and reliability of the dlcBTC ecosystem. Chainlink’s PoR feeds allow anyone to verify the collateralization of dlcBTC assets in real-time, while removing centralized control points. This collaboration underscores Chainlink’s commitment to secure DeFi integrations, as evidenced by its support for nine prominent blockchains including Ethereum, Polygon, and BNB Chain.
Aki Balogh, Co-Founder of DLC.Link, highlighted Chainlink’s unmatched security track record and the use of Proof of Reserve to enhance transparency in the Bitcoin reserves backing dlcBTC. Chainlink’s efficiency has propelled its native token LINK to the forefront of the crypto market, with LINK currently trading at $14.29 and demonstrating a 3.5% increase in the past day.