How to effectively exploit the Nomic protocol?

Updated on July 5th, Nomic is a Tier 1 blockchain that offers a decentralized, non-custodial BTC bridge. To facilitate the operation of this platform, Stake & Relax Validator has provided some technical details to the members of its community. The purpose of this approach: to help users better understand how this blockchain works. They will thus be able to take advantage of all the possibilities offered by Nomic.

What is Nomic BTC according to Stake & Relax Validator, the first independent validator

Bringing BTC to Cosmos through the Nomic blockchain

Stake & Relax Validator explains it in a very simple way: Nomic is a blockchain that works in parallel with Bitcoin. It is more exactly a non-custodial Bitcoin bridge which makes the Bitcoin network compatible with the Cosmos IBC protocol. In a nutshell, therefore, Nomic allows you to bring Bitcoin to Cosmos.

Cosmos, on the other hand, is one of the most popular blockchain development platforms around. It offers intuitive tools and features that allow developers to easily start their own blockchain or build on existing ones.

As Stake & Relax Validator points out in his tweet, Nomic guarantees faster circulation of smart contracts with bitcoin tokens (nBTC) in the Cosmos. According to him, this blockchain proves particularly beneficial for those who wish to link Bitcoin to the Cosmos. The reason is simple: Nomic is a non-custodial blockchain. In fact, users retain full control of their BTC. With the Nomic network, they can get a return on their investment simply by participating in the network and contributing to its security.

The secondary market to buy nBTC at lower prices

Stake & Relax Validator makes an important point in its long Twitter thread: BTC deposits in Nomic are not instant. This is because deposits require a confirmation time. But it is an actionable fact, he explains, because the tokens can still be sold pending confirmation. Obviously, they will value at lower prices than those offered by traders who believe the deposit will eventually be confirmed.

For Stark & ​​Relax Validator, Nomic is more than a Bitcoin bridge. It is a revolutionary blockchain for connecting BTC to the Cosmos network. To get the most out of it, you will obviously need to understand how it works. Feel free to give us your opinion!

Get a summary of what’s new in the world of cryptocurrencies by signing up for our new service newsletter daily and weekly so as not to miss any of the indispensable Cointribunes!

Ariela RASOANJANAHARY avatar
Ariela RASOANJANAHARY

My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years. I discovered trading and cryptocurrency just a few years ago. But it is a universe that interests me a lot. And the topics covered within the platform allow me to learn more. Singer in my spare time, I also cultivate a great passion for music and reading (and animals!

Leave a Comment