Symbiosis launches an innovative BTC cross-chain solution to connect multiple chain ecosystems.

BTC cross-chain technology has achieved a new breakthrough, with a project named Symbiosis proposing a clever implementation method. Currently, there are various BTC wrapping solutions available in the market, such as WBTC and tBTC, but it still poses certain challenges for ordinary users to directly exchange these wrapped versions for native BTC. At the same time, directly exchanging native BTC for other on-chain assets also faces challenges. In the past, Thorchain was one of the main solutions, while the emergence of Symbiosis provides users with a new option.

The cross-chain process of Symbiosis mainly includes the following key steps:

1. BTC Forwarder

After the user initiates a cross-chain transaction, the BTC forwarder in the Symbiosis system begins to take effect. It acts as a "monitor" that closely watches the Bitcoin network, waiting for the user to transfer BTC to the designated address. Once it detects that the user has successfully sent BTC, it will provide feedback to the system, triggering the next operation.

2. Relay Network

Then, the relay network intervenes in the process. It acts as a "coordinator", responsible for transmitting information between different blockchains, ensuring that all operations remain synchronized. The main responsibility of the relay network is to ensure that the BTC to be cross-chain is locked and to notify the target chain that the BTC has arrived, allowing for subsequent operations.

3. syBTC generation

In the cross-chain process, since it is impossible to directly change the essence of the Bitcoin network, native BTC will not be directly transferred to another chain. Instead, it will be locked in a "vault" managed by a relay network within the Bitcoin network. Meanwhile, the system will mint a wrapped asset called syBTC on the target chain.

4. Target Token Acquisition

Finally, on the target chain, syBTC will be exchanged for the target assets required by the user. It is important to note that the currently supported trading volume is still relatively small.

Overall, the implementation of Symbiosis may seem complex, but it is actually based on a relatively simple lock-issue logic. Its locking method is quite decentralized and focuses on a vertical track. The goal of the project is to support an increasing number of blockchains and assets, providing a more convenient way for BTC to flow within a multi-chain ecosystem.

In terms of financing, the project has secured an investment of 2 million USD. Its concept of "activating more BTC" is highly in line with the current development trends in the blockchain industry. With the continuous advancement of cross-chain technology, we have reason to expect more innovative solutions to emerge in the future, further facilitating asset interoperability between different blockchain ecosystems.