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Quantstamp Community Update — March 2020
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
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