WBTC - Wrapped Bitcoin [Tokenizing Bitcoin on Ethereum Platform is Now Reality!]

in #bitcoin • 5 years ago

Hi everyone, after a long time I am back with a post about new Blockchain project. It is WBTC also called Wrapped Bitcoin. ERC20 version of Bitcoin ;)

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WBTC was first introduced on October 26, 2018 as a joint initiative by BitGo (As custodian), Kyber Network, Republic Protocol(REN), and other community partners. The aim is to bring Bitcoin’s liquidity to the decentralized ecosystem on Ethereum and enhance all Dapps. WBTC is an ERC20 token which is backed by Bitcoin in 1:1 ratio. It will take Bitcoin to new heights and with more use cases. WBTC standardizes Bitcoin to the ERC20 form, so DApps like Compound, Dharma, dYdX, bZx, Gnosis, Maker and more can leverage Bitcoin for decentralized lending, margin trading and derivative markets.

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WBTC smart contracts have been audited by credible third-party audit firms Solidified Technologies, ChainSecurity and Coinspect

Official Site | Whitepaper

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#wbtc #ethereum #token #blockchain
5 years ago in #bitcoin by
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