Ethereum co-founder Vitalik Buterin posted a tweet on March 24 claiming that the standing lack of like shooting fish in a barrel movement between the Ethereum and Bitcoin networks was embarrassing.

Equally a solution, he proposed putting resource into building a decentralized substitution (DEX), to act equally a trustless bridge betwixt the 2.

DEX should be trustless, serverless and Uniswap-like

Buterin's program calls for the DEX to be trustless and serverless, with a user feel very like to Uniswap. Uniswap is a decentralized exchange that runs without an order book, instead relying on asset pairs with Ether as a fixed base currency.

As Cointelegraph reported, Uniswap has just announced plans to release a V2 update in Q2 2022, which will allow direct token-to-token swaps.

Decentralized exchanges have struggled to proceeds market share confronting traditional exchanges, despite being more closely aligned to the overall trustless ethos of cryptocurrency. Role of the issue has been a lack of liquidity, although a dedicated Bitcoin–Ehereum DEX supported by Buterin may well see greater uptake.

Building bridges not limited to Bitcoin

Vitalin suggested further suggested that Bitcoin was non the only potential destination for a DEX bridge from Ethereum, and other blockchain ecosystems should besides be up for consideration.

Buterin specifically mentioned Zcash every bit one example, saying that he has already had discussions to this end with Zooko Wilcox, CEO of Zcash-creators, the Electrical Coin Company. However, he admitted that they could both work harder to turn such talk into activeness.