Solana Embraces Bitcoin and Ordinals in Latest Update
Phantom wallet has introduced a new version that now includes support for Bitcoin, Ordinals, and BRC-20 tokens, according to a recent blog post by the Phantom team. The integration is currently in beta mode and is available to a limited number of trusted apps such as Magic Eden and UniSat. To access the new features, users must manually activate BTC support in their wallets.
Originally launched in 2021, Phantom primarily focused on providing services on the Solana blockchain. The wallet provider boasts a user base of over two million individuals. With its emphasis on multi-chain functionality, Phantom allows users to convert both cryptocurrencies and non-fungible tokens across different blockchain networks. Additionally, users have the option to choose between Taproot and Segwit forks for their preferred address type.
As Phantom has expanded into a multi-chain self-custodial wallet, it has added support for the Ethereum and Polygon ecosystems. The team now plans to further explore the Bitcoin network by introducing additional features in the future, such as Ledger wallet support and customizable gas fees. However, no specific timeline has been provided for these updates.
In January 2022, Phantom successfully concluded a series B funding round, raising $109 million and bringing its valuation to $1.2 billion. Paradigm led the funding round, with participation from investors like Jump Capital, Andreessen Horowitz (a16z), Solana, and Variant.
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