Sequentia is pleased to announce its partnership with Portico Exchange.
Sequentia will grant resources and guidance to Portico Exchange, integrating Portico’s lead developer, Rafael “Rsync“, into the Sequentia family. The resources allocated to Portico will be used to continue the development of the Portico Exchange, an open-source project that allows token swaps between Bitcoin and other protocols using Bitcoin script.
Not only will Sequentia implement Portico’s technology for DEX transactions, but the entire Bitcoin community and many other projects will benefit from this partnership!
Let’s look at the details to understand why Sequentia and Portico are such a good match.
Sequentia is the first Bitcoin slavechain, redefining the concept of Bitcoin sidechains with an innovative anchoring mechanism, and enabling faster and more reliable cross-chain operations (HTLC contracts).
Sequentia will build part of its codebase using Elements, which was also used to create Blockstream Liquid, and has three big development goals:
- Develop a new Consensus mechanism inspired by cryptographic sortition (Algorand-style) Proof-of-Stake governance. This radically differs from Liquid’s Strong Federation because it allows the market to govern the sidechain and encourages more inclusive participation from the community.
- Introduce anchoring to Bitcoin blocks (Bitcoin reorgs are mirrored on Sequentia), for reliable and faster peer-to-peer swaps, as well as a checkpointing system on Bitcoin.
- Improve the fee model with an open market for transaction fees, i.e. any token issued on Sequentia (e.g. any stablecoin), can be used to pay for transaction fees as long as accepted by block creators.
From an architectural point of view, Sequentia doesn’t require much more than that. One remaining missing piece would be programmable accounts. For this development, Sequentia is in contact with Mukn, the team who built a similar solution for Nervos (AVOUM).
However, from an ecosystem perspective, in order to acquire a huge share of the market that is currently dominated by other blockchains like Ethereum or Binance Smart Chain, it is necessary to build a network of applications and scalable DEXs where tokenized assets can be traded, giving rise to truly Bitcoin-centric finance.
And that is where Portico Exchange comes in.
Rsync, a young and promising developer from Brazil, has dedicated himself full-time to the Bitcoin cause for almost 2 years. Even though he lacked resources, his passion and the thousands of hours he dedicated brought to life a new light client: an interface to facilitate atomic and submarine swaps between the Bitcoin blockchain and any sidechain or protocol using Bitcoin script. Portico light clients already enable users to execute trustless swaps and signal their trading pairs through the main Portico instance.
Portico is compatible with Elements, which Sequentia’s codebase is inspired by. For this reason, with minor adjustments, Rsync will be able to make this kind of swap the perfect fit for Sequentia’s envisioned implementation of atomic and lightning swaps.
Many projects in the Bitcoin ecosystem will benefit from Portico’s development: Sequentia, Liquid Network, RGB, LNURL, Fedimint, Statechain, OmniBolt, and Portal DeFi can all potentially use Portico.
Rsync, lead developer of Portico, says: “The design of Sequentia unlocks many possibilities, elevating Bitcoin to the next level of adoption for people around the world. I’m excited to work with the Sequentia team!”.
Yann Wong, is a member of the Omni foundation and co-creator of OmniBOLT. He is going to supervise the technical development of Sequentia. He states: “the more resources Sequentia will collect for its cause, the more the entire Bitcoin ecosystem will benefit. Rsync is just the first among many! We have a group of developers that are eager to start their journey with Sequentia”.
Sequentia AG is a public limited company based in Liechtenstein, responsible for coordinating the development of the Sequentia protocol, a Bitcoin sidechain for asset tokenization and DEX transactions. Sequentia AG is currently fundraising. For more information visit sequentia.io or write to firstname.lastname@example.org