Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the continuing lack of easy movement between the Ethereum and Bitcoin networks was embarrassing.<\/p>\n
As a solution, he proposed putting resources into building a decentralized exchange (DEX), to act as a trustless bridge between the two.<\/p>\n
Buterins plan calls for the DEX to be trustless and serverless, with a user experience very similar to Uniswap. Uniswap is a decentralized exchange that runs without an order book, instead relying on asset pairs with Ether as a fixed base currency.<\/p>\n
As Cointelegraph reported, Uniswap has just announced plans to release a V2 update in Q2 2020, which will allow direct token-to-token swaps.<\/p>\n
Decentralized exchanges have struggled to gain market share against traditional exchanges, despite being more closely aligned to the overall trustless ethos of cryptocurrency. Part of the issue has been a lack of liquidity, although a dedicated BitcoinEhereum DEX supported by Buterin may well see greater uptake.<\/p>\n
Vitalin suggested further suggested that Bitcoin was not the only potential destination for a DEX bridge from Ethereum, and other blockchain ecosystems should also be up for consideration.<\/p>\n
Buterin specifically mentioned Zcash as one example, saying that he has already had discussions to this end with Zooko Wilcox, CEO of Zcash-creators, the Electric Coin Company. However, he admitted that they could both work harder to turn such talk into action.<\/p>\n
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Vitalik Proposes Solution to 'Embarrassing' Lack of BitcoinEthereum Bridge - Cointelegraph<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the continuing lack of easy movement between the Ethereum and Bitcoin networks was embarrassing. As a solution, he proposed putting resources into building a decentralized exchange (DEX), to act as a trustless bridge between the two. Continue reading