Upgraded on July 5, Nomic is a layer-1 blockchain that offers a decentralized, non-custodial BTC bridge. To facilitate the operation of this platform, Stake & Relax Validator has provided some technical details to the members of its community. The purpose of this approach: to help users better understand how this blockchain works. Thus, they will be able to exploit all the possibilities offered by Nomic.
Bringing BTC to Cosmos through the Nomic blockchain
Stake & Relax Validator explains it in a very simple way: Nomic is a blockchain that works in parallel with Bitcoin. It is more exactly a non-custodial Bitcoin bridge that makes the Bitcoin network compatible with the Cosmos IBC protocol. In a nutshell, therefore, Nomic makes it possible to bring Bitcoin to Cosmos.
Cosmos, on the other hand, is one of the most popular blockchain development platforms around. It offers tools as well as intuitive features that allow developers to easily launch their own blockchain or build on existing ones.
As Stake & Relax Validator points out in its tweet, Nomic ensures faster circulation of bitcoin-pegged token (nBTC) smart contracts in the Cosmos. According to him, this blockchain proves to be particularly advantageous for those who wish to link Bitcoin to the Cosmos. The reason is simple: Nomic is a non-custodial blockchain. Indeed, users retain full control of their BTC. With the Nomic network, they can get a return on their investment just by participating in the network and contributing to its security.
The secondary Market to buy nBTC at lower prices
Stake & Relax Validator makes an important point in its long Twitter thread: BTC deposits in Nomic are not instant. This is because deposits require a confirmation time. But it’s an actionable fact, he explains, because the tokens can still be sold pending confirmation. Quite obviously, they will value at lower prices than those offered by traders who believe the deposit will eventually be confirmed.
For Stark & Relax Validator, Nomic is more than a Bitcoin bridge. It is a revolutionary blockchain for linking BTC to the Cosmos network. To get the most out of it, you will of course need to understand how it works. Feel free to give us your opinion !
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