TBTC - brief simile with wBTC, pBTC, renBTC, sBTC.
To start with, thanks to the guy with the nickname "pantsme" on DuneAnalytics for that beautiful Dashboard.
This Steemit post is the simile of wBTC, hBTC, pBTC, renBTC, imBTC, and tBTC. I will not dig too deep and overload you with the information, but will provide you the necessary info in the most laconic way possible.
tBTC - developed by Keep Project team, Summa, and Cross-chain Group. TBTC is 1 to 1 pegged to the BTC (supply-pegged asset). Application allowing users to exchange BTC into tBTC has been launched, but due to some technical issues it was put on hold. Bitcoins are held by the Signers - entities with the 100,000 KEEP-tokens staked. The maximum lot-size is 1 BTC. Depositing addresses are generated by randomly selected Signers, in a group of 3. Signers are obligated for 150% collateralization, meaning for 1 BTC they secure, they should have the equivalent of 1.5 BTC bonded in ETH tokens.
pBTC - developed by PTokens, at the moment of editing this article, pBTC has a total value of about 48 Bitcoins at the current exchange rate. Pegg rate is 1:1 every 1 pBTC token could be redeemed for 1 BTC.
The network is operated by the Smart Contract, Validators and MultiSig wallet. At the moment, the network if functioning, but only with 1 validator. Developers are planning to implement the decentralization after the additional testing.
wBTC (Wrapped Bitcoin) - governed by the consortium (DAO) which determines the Merchants (3rd parties with the exchange-interface), and Custodians (only 1 available - BitGo). The first successful project of this kind. wBTC is represented by the largest market share (> 75%). Current circulating supply is ~ 35k of Bitcoins. Pegged 1 to 1. No upper limits for tokenization, but the KYC process is required to start the exchange.
renBTC - the token of renVM of REN Project. The second most-used project of this kind. 100 Darknodes (the entities who staked 100,000+ REN tokens) are randomly selected to create the Bitcoin wallet and multi-sign it. Bonded at 3 to 1 ratio, meaning that for every 1BTC they secure, they should have 3 BTC worth of REN tokens. Project using fixed hard-peg 1:1.
sBTC (Soft Bitcoin). Peg is not fixed, it is called "Soft Peg", meaning that the sBTC could be traded inside the band. When significant de-coupling from the target price of 0.0001 happens, the project introduces the monetary policies, reducing or increasing the supply. So this project is the only project aiming to have a fixed peg on the price of Bitcoin, in other words - it is not supply-pegged.