Bitcoin on DeFi, joining MyID Alliance, Tribe Accelerator and more. Here’s what’s been going on at Quantstamp in March:
Bitcoin on DeFi
DeFi is blockchain’s first killer app, with assets locked up approaching $1 billion USD. But one major asset is missing: Bitcoin. We’re excited to be working with some of the top projects that are working to bring Bitcoin to the DeFi ecosystem: RSK, Echo, Atomic Loans, Hashflow, and Kava (mentioned in previous month’s updates).
RSK is the second layer, smart-contract protocol for Bitcoin. It adds additional functionality to Bitcoin, allowing for a whole range of more creative and sophisticated use cases to be built for Bitcoin in a trust-minimized.
Echo is another approach to running decentralized applications that interact with the Bitcoin network. It uses a pegged sidechain which uses its own “Proof of Weighted Randomness” consensus model designed to minimize the trust required in the network.
Atomic Loans is developing a cross-chain protocol for non-custodial Bitcoin-backed loans. Users can borrow Ethereum-based USD stablecoins while locking Bitcoin as collateral natively on the Bitcoin chain.
Read more in the post - Bringing Bitcoin to DeFi.
Joining the MyID Alliance
We’re officially a part of the MyID Alliance, a digital ID initiative based out of Korea. The MyID Alliance is a digital ID initiative with a large ecosystem of financial institutions in Korea, including Samsung Securities, Shinhan Bank, and more, spanning fintech, banking, e-commerce, etc.
Korea has recently passed comprehensive cryptocurrency regulation. This regulatory clarity paves the way for blockchain technology adoption in the country, and joining this alliance helps us help the country get there. Read more in the post
Top DeFi Trends
Flash loans, zaps, and DeFi aggregators are leveraging composability in order to simplify the user experience and ultimately make DeFi markets hyper-efficient. Read more in Top 3 DeFi Trends.
Learn About Rollups
No, not the fruity kind. Optimistic and ZK-rollups are near-term scalability solutions for Ethereum 1.0. Instead of waiting for ETH 2.0 to be deployed, rollups technology allows applications today to scale on Ethereum.
While powerful, rollups are difficult to understand. In this video from Quantstamp Blockchain Research Jan Gorzny, both Optimistic and ZK-Rollups are explained step by step.
We were recently accepted to Tribe Accelerator, Singapore’s government-supported blockchain accelerator.
Tribe is a growth-focused focused accelerator that will help Quantstamp gain traction by connecting us to a network of global corporations, government agencies and top blockchain companies. Tribe’s official partners include BMW, ConsenSys, Intel, Nielsen, R3, and more.
Wearables and Medical IoT Interoperability and Intelligence
Conferences are moving online. Our Senior Research Engineer Sebastian Banescu recently spoke at an online conference under the IEEE umbrella. He spoke on Blockchain and Smart Contract Security in Practice will help the next generation of wearables and Medical IoT devices leverage blockchain securely.
Keep up with Quantstamp
Note: This update includes information and forward-looking statements about upcoming events and concepts under continuing development. Schedules, features, and functionality are subject to change or cancellation at any time and you are not to place undue reliance on this information or any forward-looking statements.