Square Announces New ‘Defi’ Ecosystem on top of Bitcoin

Join The Best Altcoin of 2021!

Jack Dorsey, the Twitter CEO and founder of Square Inc today announced the launch of TBD, a new open-source development program on top of the Bitcoin blockchain. The new venture by Square would be focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.

Just a few weeks ago, Square also announced they are building an open-source Bitcoin hardware wallet. The focus of the Dorsey-led company has been clear; to make Bitcoin useful via various open-source development projects.

Dorsey is a well-known Bitcoin proponent who has confessed that he would leave Twitter and Square for Bitcoin. During the recent announcement, Dorsey emphasized that everything done by Square would be open source.

“Like our new Bitcoin hardware wallet, we’re going to do this completely in the open. Open roadmap, open development, and open source. brock is leading and building this team, and we have some ideas around the initial platform primitives we want to build.”

Will Square Developed Bitcoin Defi be Similar to Ethereum’s Defi?

Dorsey didn’t reveal a great deal about the upcoming open-source project being developed by Square apart from the fact that Mike Brock would be leading the new development team. While traditional defi built on top of Ethereum has been a great success as it has turned into a multi-billion dollar ecosystem within a couple of years. The new Bitcoin Defi could bring one of the most notable blockchain upgrades for the top cryptocurrency network.

Smart contracts are the key to the functioning of Ethereum based defi, and if Square is building a similar product, we might expect smart contract functionalities for the Bitcoin network as well. The lead developer of the project said the company will be transparent in its approach and reveal more details as they move forward.

Read the article:  Axie Infinity and dYdX Overtake NFT Platform OpenSea In DApps Revenue

Dorsey’s commitment towards Bitcoin is unparallel and it has shown over the years. After the launch of bitcoin payment services Square crypto, the founder has taken that commitment to next level. Just like Ethereum co-founder Vitalik Buterin, Dorsey is working to make Bitcoin a complete ecosystem on its own.

Every trader who trades cryptocurrency on the Binance exchange wants to know about the upcoming pumping in the value of coins in order to make huge profits in a short period of time.
This article contains instructions on how to find out when and which coin will participate in the next “Pump”. Every day, the community on Telegram channel Crypto Pump Signals for Binance publishes 3-4 free signals about the upcoming “Pump” and reports on successful “Pumps” which have been successfully completed by the organizers of the VIP community.
These trading signals help earn from 5% to 45% profit in just a few hours after purchasing the coins published on the Telegram channel “Crypto Pump Signals for Binance”. Are you already making a profit using these trading signals? If not, then try it! We wish you good luck in trading cryptocurrency and wish to receive the same profit as VIP users of the Crypto Pump Signals for Binance channel.
John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

Leave a Reply