press release
Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has joined the Chainlink BUILD program to help accelerate the adoption of VERSE ecosystem dApps and receive increased technical support for Chainlink’s time-tested Web3 services—which include verifiable randomness, decentralized price data, and reliable smart contract automation.
What Is VERSE?
With over 35 million wallets created and more than 5 million active users, Bitcoin.com has played a leading role since 2015 in onboarding millions of newcomers to Bitcoin, cryptocurrency, and the larger Web3 industry. A trusted brand, Bitcoin.com acts as the first touchpoint for newcomers to safely interact with and learn about this paradigm-shifting technology.
Verse is the next step in Bitcoin.com’s mission to establish blockchain as an integral component of society towards the goal of creating more economic freedom in the world. The VERSE token, currently on sale at getverse.com will provide utility in Bitcoin.com’s ecosystem while also acting as a rewards mechanism to encourage positive actions such as self-custodying assets. VERSE also refers to an ecosystem of decentralized applications (DApps) that will guide millions of people on their journey beyond Bitcoin, including into decentralized finance (DeFi), one of the fastest-growing verticals in Web3 today.
Why We Joined Chainlink BUILD
Bitcoin.com joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides and to help accelerate the adoption of the VERSE ecosystem.
As part of BUILD, Bitcoin.com will receive key benefits, including access to and integration of on-chain price data through Chainlink Price Feeds, a verifiable random number generator through Chainlink VRF, and decentralized smart contract automation through Chainlink Automation. These proven services will act as critical infrastructure for the Bitcoin.com Verse ecosystem. Bitcoin.com will also receive access to new Chainlink product alpha and beta releases and increased technical support, among other benefits.
In exchange for these services, Bitcoin.com will make multiple percentage points of the VERSE token supply available to Chainlink service providers, including stakers, over time. These mutually aligned economic incentives enable both the Bitcoin.com and Chainlink communities to support one another.
How Chainlink Services Help Power the VERSE Ecosystem
Built on Ethereum but with a focus on expanding into low-fee EVM chains, Verse’s DApp ecosystem will kick off with the multichain Verse DEX and expand to integrate a range of DApps, some of which will be incubated by the Verse Development Fund.
“We’ve chosen to use Chainlink as our preferred oracle solution across Verse’s DApp ecosystem because the Chainlink Network has proven time and time again that it is the most reliable and secure oracle solution in Web3, “ said Bitcoin.com CEO Dennis Jarvis. “Bitcoin.com is the primary gateway for Web3 newcomers, and leveraging Chainlink services helps ensure they have the best experience possible while navigating the many exciting use cases in decentralized finance.”
“We’re pleased to welcome Bitcoin.com and the VERSE ecosystem into Chainlink BUILD. With the support of Chainlink’s secure and reliable oracle services and increased alignment with the Chainlink ecosystem, VERSE can build next-generation decentralized finance applications that accelerate the pace of Web3 adoption.”—Johann Eid, VP of Go-to-Market at Chainlink Labs.
About Chainlink
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Bitcoin.com
Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.
The VERSE token will launch following the conclusion of the Verse token sale, which ends on Nov 30.
Image Credits: Shutterstock, Pixabay, Wiki Commons