The crypto community touched yet another milestone a few hours ago. In this latest development, developers at Summa, a blockchain establishment that offers private, self-enforcing, and self-settling cross-chain contracts that are trustless and non-custodial, are said to have open-sourced a cross-chain integral swap between the two largest blockchain ecosystems, Ethereum and Bitcoin.
According to the GitHub repository threaded on the development, owners of any or both of ethereum and bitcoin will be able to interchange the cryptocurrencies at a predetermined price and time.
Vitalik Buterin Requests Interoperable Blockchains
This news comes following Ethereum’s co-founder, Vitalik Buterin’s statement about a week ago which requested that developers should invest effort in making it possible to move between bitcoin and ethereum blockchains easily. He added that it should be possible to achieve this in a trustless and serverless manner.
Vitalik Buterin furthered by including that decentralized exchanges (DEX) bridges should exist between ethereum blockchain and other crypto ecosystems, finalizing that he was in talks with other respected blockchain developers on how to materialize such plans.
Now, according to the report, developers at Summa are said to be working in order to make interoperability possible between Ethereum and numerous other blockchains.
Eth Gets A Boost, Gains 20% Within The Last 24 Hours
Major cryptocurrencies including bitcoin and Ethereum have surged following this news. With Eth setting the pace, the cryptocurrency gained the most within the last 24 hours, moving up as much as 20%.
Within the next couple of hours following the announcement by Summa, Ethereum reacted quite correlatively to the news as it began what seemed to be a massive bull run. Eth peaked at around $175 before slowly shedding some value again until the present. At the time of writing this piece, Eth was changing hands at $169.95