According to a recent report, the first trust-less swap between the Bitcoin blockchain and Stacks protocol has been executed. The co-founder of the Stacks protocol, Muneeb Ali tweeted about the native bitcoin swap and said the progress is a big deal.
Trust-less Native Bitcoin Swap Executed With an NFT Called ‘Boombox’
On July 23, a trust-less swap using the Stacks protocol and the Bitcoin (BTC) blockchain was settled onchain. The swap dubbed the “Catamaran Swap between BTC and STX” was discussed on the Reddit forum r/stacks.
“The first trustless swap between [the] Bitcoin [blockchain] and Stacks chain is happening,” a user wrote on the forum. “It is similar to a submarine swap. However, I would call it catamaran swap because we have two chains on top of the water,” the individual added. Further into the Reddit thread, the individual notes that the swap was “successfully completed.”
Native Bitcoin swaps are now live!
Why is this a big deal? Tweet thread