Bitcoin Token on Ethereum is a total downfall

in #bitcoin5 years ago


In January they informed about the new interesting ERC-20 Token - Wrapped Bitcoin. It is a coin covered by Bitcoin. At first glance, an absolutely unnecessary project, but at closer examination, it definitely has something to do with itself.

Wrapped Bitcoin is ideal for performing BTC <-> ERC-20 atomic swap. Therefore, any token operating on Ethereum blockchaine can be exchanged for BTC via a decentralized exchange. You do not need a third party to ensure trouble-free trade.

Atomic swaps between Bitcoin and (for example) Ethereum are currently not at all easy. But in the future, Lightning Network could help.

Unfortunately, Wrapped Bitcoin is not yet popular with popularity. To date, it has only 13 users and 16 transactions. That's what we're talking about. Perhaps it will change over time.

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