BTC Relay - Where Ethereum contracts can verify bitcoin transactions

in #steemhunt6 years ago

BTC Relay

Where Ethereum contracts can verify bitcoin transactions


Screenshots

6BDFBC36-DCDA-4204-964D-2929D2D4C9EA.jpeg


Hunter's comment

BTC Relay is a building block that allows Ethereum contracts to securely verify Bitcoin transactions without any intermediaries: in short users can pay with Bitcoin to use Ethereum DAPPs.
link

BTC Relay is a unique ecosystem where transactions on multiple platforms can be verified. This platform is open source and it allows for ethereum contracts to have access in verifying transactions carried out with bitcoin. You can looks at this as a bridge between this two platforms.


Link

http://btcrelay.org/



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While this is going to open up a whole new concept of bridging both the platforms, I am wondering what would be a use case, to pay and verify a transaction. I mean why one would use this. But again, this could be a new beginning to something new.

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