Nomic’s first product is the Bitcoin Bridge, bringing Bitcoin to Cosmos. The bridge creates a new asset, nBTC, which is IBC-enabled and fully backed by BTC. They have designed a unique, permissionless protocol which allows anyone to easily deposit BTC in exchange for nBTC, or withdraw nBTC in exchange for mainnet BTC.
To power this vision, They have designed a system that is more secure and permissionless than any other existing Bitcoin sidechain, joining proof-of-work and proof-of-stake to get the best of both worlds. By leveraging both Bitcoin’s hashrate and the Tendermint consensus protocol, the Nomic network is able to provide both high security and instant finality. It also creates a unique opportunity for proof-of-stake validators to earn BTC rewards.
Nomic is a layer-1 blockchain that offers a decentralized, non-custodial Bitcoin bridge. NOM is the token used to secure the network, and it can be staked to earn Bitcoin rewards. If you want to stake your NOM with 01node and earn some staking rewards, here is a step-by-step guide:
- Log in to your Keplr wallet and visit https://app.nomic.io/. Click [Connect Wallet] on the left-hand side menu.
- Search for 01node on the validator list and click [Manage].
- On the pop-up window, click [Delegate].
- Input the number of tokens you want to delegate and click [Delegate].
- On the Keplr pop-up window, click [Approve].
- Check your staking information on the Staking dashboard.