Bitcoin to Be Available on Ethereum Network via Wrapped Bitcoin

in #cryptocurrency • 6 years ago (edited)

Bitcoin will soon be available on the Ethereum network via a new Ethereum ERC-20 token called Wrapped Bitcoin (WBTC). This will allow users to exchange Bitcoin on Ethereum-based decentralized exchanges (DEXs), and use Bitcoin on Ethereum decentralized apps (Dapps). Every WBTC will be backed 1:1 by Bitcoin in a reserve operated by BitGo, a qualified cryptocurrency custodian.

Read the full article at https://bitcoinnews.com/bitcoin-to-be-available-on-ethereum-network-via-wrapped-bitcoin/

6 years ago in #cryptocurrency by
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