Tap Protocol, owned by Trac Systems, has launched a "Bitcoin native smart contract", which the team claims is the first Bitcoin native smart contract and DeFi tool to run directly on Bitcoin Layer 1, relying on the Ordinals meta-protocol.
According to the team: "This breakthrough allows smart contracts, exchanges and liquidity pools to be independent of Layer 2 solutions. Tap integrates with systems such as ICPs to enable decentralized operations, enhancing the practicality and security of Bitcoin's direct DeFi activity on the mainnet without the need for complex Layer 2 setups."
Trac Systems' Tap Protocol Launches "Bitcoin Native Smart Contract"
2024-08-12 20:00:23
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