Bitcoin News Update: Rift Introduces 20-Minute Risk Window for Quicker and More Affordable Bitcoin Swaps
- Rift, a blockchain startup, launched a TEE-based protocol for Bitcoin-EVM swaps, eliminating multisig wallets and synthetic tokens. - The platform charges 10 bps taker fees, undercutting Coinbase's 40–60 bps, while using hardware enclaves to secure 20-minute swap windows. - Unlike zero-knowledge solutions, Rift's TEEs simplify auditing and reduce capital requirements by validating transactions in secure enclaves. - Targeting DEX aggregators and wallets, Rift aims to streamline on-chain Bitcoin trading wi
Rift, a blockchain company, has introduced a peer-to-peer trading protocol that allows direct swaps between Bitcoin and Ethereum Virtual Machine (EVM) assets by utilizing trusted execution environments (TEEs). This positions Rift as a more capital-efficient option compared to current cross-chain solutions. The platform imposes a 10 basis point fee for takers and no fee for makers, using hardware enclaves to securely hold native
The protocol changes the conventional trust structure by processing transactions inside a secure enclave, only releasing funds after enough block confirmations are detected, as explained in a
The Bitcoin-EVM interoperability space is competitive, with players like
By focusing on DEX aggregators and wallet integrations, Rift seeks to make on-chain Bitcoin trading more seamless without introducing new layer-1 chains or wrapped tokens, as mentioned in the
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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