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Allbridge connects to Stacks via Daemon


Daemon Technologies is a pioneering software company operating primarily out of Asia. The company provides technical advice and solutions to startups to establish their business with the web 3.0 features in Stacks. Recent developments from Daemon Technologies indicate that the company is preparing for the integration of Stacks with Allbridge. Stacks, as we all know, is a blockchain network that leverages Bitcoin’s capital and market. The Stacks ecosystem brings smart contracts and dApps to access and utilize Bitcoins capital without making fundamental changes to the Bitcoin network. Allbridge will facilitate network bridging in the second quarter of this year. When Bitcoin was introduced, it was intended to be immutable and immutable. The rigid programming made it more difficult for the network to adapt to the new changes in the cryptocurrency market. So Stacks was created as a solution to address this fundamental problem. Using this new ecosystem directly connected to the Bitcoin network, investors can now leverage smart contracts, apps, NFTs and more without changing Bitcoin’s framework. The STX tokens are used for transactions and to receive staking rewards on Stacks. This is also the very first virtual currency to be approved by the SEC, but it is not fully regulated. You can read more about the future of STX here. Daemon has so far been critical to the development of the Stacks ecosystem by establishing essential partnerships and integrations. Now this new integration with Allbridge will play a vital role in opening up new gateways for Stacks and also for Daemon. According to the reports, Allbridge received the hefty $140,000 from Daemon Technologies. This grant will help the bridging infrastructure strengthen security and incentivize more startups to establish their business in the Stacks ecosystem in the future. This proves that this new deal from Daemon Technologies has more facets than meets the eye. Bitcoin is easily the largest cryptocurrency on the market right now, with its market cap valued at over $800 billion. The King crypto gets the green signal from many countries to use as security as well. Now Allbridge users can get a taste of this huge market thanks to the new integration with Daemon Technologies. New funds will also be released to boost this cross-connectivity that is profitable for emerging developers. Allbridge will enable support for the Stacks ecosystem from more than ten networks. The list includes such prominent names as Ethereum, Avalanche, Solana, and Binance Smart Chain. The new cross-chain connectivity is a timely guarantee for investors. Bitcoin DeFi applications are expected to become more and more active via Stacks in the future. The addition of multiple stablecoins to the Stacks on-chain ecosystem will bring market stability and deep liquidity to users in the future.
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